Sunday, 8 March 2009

Recovery setback

Another 20 cm of snow showelled down today. No quantitative easing on that front and hence, no crisis recovery any time soon.

Newly fallen snow around O°C is also not the easiest basis to ski on. Backwards slippery cross country skis are a real pain. I enjoyed it for 5 km today only to learn that the inn in the woods was out of sour cream and raspberry jam waffles. No hobbits spotted either and no moose. Nice to be out though, and slipping the 5 km back most certainly benefitted my arm strenght.

Did you know that Norway spent 14 pct of last year's gdp on loans to banks and other crisis management? According to the IMF only UK spent more.

Not a word on how this will affect my pension.

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