I just had to have my share of wit and pun. I have nothing to blog about today because I’m half sleeping, half typing; so I thought of trying my hand at weaving together a story based on multiple headlines.
Stock markets worldwide have been celebrating an advanced Chinese New Year – all of them have been in the red at the onset of the Gregorian calendar year of 2008. The US, has been the global leader in terms of stock market disappointment, and it has pushed no less than their President and Legislative branch to fast track an economic stimulus package to derail the economy from heading towards a path to recession.
The financial system of the United States has been in a state of panic lately, causing the FED to cut (again) interest rates in an emergency move to quell the loss of investor confidence. Most of the stocks listed that belong to the Financial Sector have bled the way, blazing away a trail of blood on the Street.
A unique twist to the melodrama that is the subprime crisis, is that of Societe Generale. Apparently a twisted brilliant mind ran away with 7.15B DOLLARS thereby defrauding the bank, and impacting on their earnings for 2007. This fraud genius has even built up a cult following in Facebook. 7.15B dollars is how many pesos???? I think I’ll lose count of the zeros.
And speaking of zeros, a study has released a report on the number of mobile phones sold in 2007. Wager a guess?
Well it’s a cool 1.1 billion mobile phones. Compare that with a world population of 6.6Billion, and it tells you that there are still about 5.5Billion people in the world who still don’t own a single mobile phone. You have to realize that of the 1.1B handsets sold, there’s probably more than 50% who bought a second or even a third one. So the 5.5Billion may actually be a small figure.
Well, that’s it for today’s news.