It's hard to come with a decent commentary on what happened yesterday. Instead of moving towards socialisam we moved from bad to worse. Globally we will all be worse now. That's kind of socialism too. An interesting analysis of the vote is on http://voices.washingtonpost.com/thefix/2008/09/the_failure_of_the_financial.html?hpid=topnews
Disbelief and fear is what I felt watching voting on BBC World - the only decent channel I have on my cable here (no CNN, CNBC). I was sure that the bill would be passed and rationality prevail. Next to TV I watched cnn.live.com. on my laptop and thought it's a bad joke when after not passing the bill the Congress started to voting about commemorative coins. Maybe they can commemorate 777.7 drop. Easy to mint.
At the moment I watch Asia going down. At least banks in Asia are no going bankrupt -today. Markets pounding is expected in Europe. Have no idea what awaits me at work this morning - but at least I still have a job.
I am appalled by Congress reps' absence of logic and inability to grasp facts. Or so many have voted "No" because there were no earmarks? If that's how "true democracy" works I am in a very democratic country now. By the way Yushenko is in Washington.
Monday, September 29, 2008
Sunday, September 28, 2008
Igor in Kiev
Today is exactly a week since Igor arrived to Kiev. However events in financial markets are felt in Ukraine too and have not gave me much time to write.
I first want to thank Sandra, Maria, Zippo and Isela to going with Igor and me to the airport. I was very nervous and having seasoned "dog travellers" with me at the airport helped a lot.
On the airport everyone was helpful. Waiting in the line for security check lovely Ukrainian ladies gave Igor a lot of attention. He basked in it. In the plane he was quite. No whining. No one knew I have a doggie in my bag. I was so proud of him!
At the customes of the Kiev airport they just asked if Igor has a passport and vaccinations. They have not looked properly at Igor's papers. So much work went into getting them I was disappointed there is almost no interest in them. I had truly a thick file for Igor - all vaccinations, vet's statement in Ukrainian, correspondence (or better lack of it) with Ukrainian vet service and customs - and no one looked at any of these!!! But everyone on the airport was friendly and helpful! I felt a mixture of relief that Igor arrived to Kiev so smoothly and disappointment that no one showed interest in his papers. Kind of feeling when you get highest grade on exam not because you spent days preparing but because the question was an easy one.
At home - after I opened my suitcase Igor immediately jumped into it! Perhaps his way of showing he misses his big family in Nieuw A'dam. We had a bit of a noisy night but soon he got used to sleeping in his big crate.
He adjusted to his new home fast. It helps that Julia - my housekeeper - keeps him company during the day.
On his walks he is afraid of people and cars. Today he started to bark at a small friendly Pekinese who wanted to play with him. He likes driving but when I stop and people start to cross a road he barks at them in the car. We have to work on Igor's social skills.
About financial meltdown - I hope ING will not take over Fortis. For that news I have to wait until tomorrow.
I first want to thank Sandra, Maria, Zippo and Isela to going with Igor and me to the airport. I was very nervous and having seasoned "dog travellers" with me at the airport helped a lot.
On the airport everyone was helpful. Waiting in the line for security check lovely Ukrainian ladies gave Igor a lot of attention. He basked in it. In the plane he was quite. No whining. No one knew I have a doggie in my bag. I was so proud of him!
At the customes of the Kiev airport they just asked if Igor has a passport and vaccinations. They have not looked properly at Igor's papers. So much work went into getting them I was disappointed there is almost no interest in them. I had truly a thick file for Igor - all vaccinations, vet's statement in Ukrainian, correspondence (or better lack of it) with Ukrainian vet service and customs - and no one looked at any of these!!! But everyone on the airport was friendly and helpful! I felt a mixture of relief that Igor arrived to Kiev so smoothly and disappointment that no one showed interest in his papers. Kind of feeling when you get highest grade on exam not because you spent days preparing but because the question was an easy one.
At home - after I opened my suitcase Igor immediately jumped into it! Perhaps his way of showing he misses his big family in Nieuw A'dam. We had a bit of a noisy night but soon he got used to sleeping in his big crate.
He adjusted to his new home fast. It helps that Julia - my housekeeper - keeps him company during the day.
On his walks he is afraid of people and cars. Today he started to bark at a small friendly Pekinese who wanted to play with him. He likes driving but when I stop and people start to cross a road he barks at them in the car. We have to work on Igor's social skills.
About financial meltdown - I hope ING will not take over Fortis. For that news I have to wait until tomorrow.
Saturday, September 6, 2008
Overbearing neighbour
As many others I consider a stock market index of a country a reliable mood indicator. It gives some indication of what is likely to happen next. Money always moves first.
On Friday, Sep 5th stock trading in Kiev was suspended. PFTS - the local stock market index -dropped 7% in one day. For the last quarter PFTS dropped 29.1% and such fall earned PFTS a silver medal for the 2nd worst performing stock index in the world. (Gold medal goes to China Mainland Index). CDS on Ukrainian government bonds moved over 501 mark.
Yesterday's index drop is not triggered by Cheny's visit and talk about Ukraine's need to move closer to EU and get NATO membership.
It has to do with overbearing neighbouring Mishka bear and unbearably mercurial local politics. For excellent analysis about both check http://www.stratfor.com/.
Like many Ukrainians I do not fear peace-keeping "Black Eagles" on the East boarder. Mishka has a more effective way down his paws. On Aug 29th Russian Economic Ministry committed to abolish conditions for free trading with Ukraine. Under 1993 Russia-Ukraine free trade agreement all goods produced in Ukraine except sugar and alcohol enjoy duty free export to Russia. So Mishka plans (the government has a week to decide) to close Russian market for Ukrainian goods. The bear knows well Ukraine's weakest spots. In spite '93 agreement Mishka triggered few "economic wars" already. In Jan 2006 Russia declared "chicken and cheese war". Mishka found that Ukrainian milk and meat products pose the threat of contagious diseases in Russia. Since Jan 2007 when Mishka mentions "gas" - Ukraine freezes. Not only literally. Ukraine economic fate is tied to oil and gas as Ukraine major export (after grain and sunflowers) is steel. To produce steel this country needs a lot of gas. Until now Mishka and Vladimir supplied gas (with few telling interruptions) at below market prices. But that's due to change. The new gas contract is being negotiated. The guess is not will the price be higher - but will it be "un/bearably" higher.
In Ukraine (as in many other places) money rules. Ru$$ia i$ flu$hed with $$$$$$$. And annoyed with what it calls "the encirclement strategy" employed by the US/West.
Since Peter the Great the Russian doctrine is based to ensure access to the Baltic in the North and the Black Sea in the South. Peter won access to the Baltic. Cathrine's soldier Potemkin ensured access to the Black Sea. Russia will not allow even contemplating a loss of access to the Black Sea and Sevastopol naval base - which population is 72% Russian.
On Friday, Sep 5th stock trading in Kiev was suspended. PFTS - the local stock market index -dropped 7% in one day. For the last quarter PFTS dropped 29.1% and such fall earned PFTS a silver medal for the 2nd worst performing stock index in the world. (Gold medal goes to China Mainland Index). CDS on Ukrainian government bonds moved over 501 mark.
Yesterday's index drop is not triggered by Cheny's visit and talk about Ukraine's need to move closer to EU and get NATO membership.
It has to do with overbearing neighbouring Mishka bear and unbearably mercurial local politics. For excellent analysis about both check http://www.stratfor.com/.
Like many Ukrainians I do not fear peace-keeping "Black Eagles" on the East boarder. Mishka has a more effective way down his paws. On Aug 29th Russian Economic Ministry committed to abolish conditions for free trading with Ukraine. Under 1993 Russia-Ukraine free trade agreement all goods produced in Ukraine except sugar and alcohol enjoy duty free export to Russia. So Mishka plans (the government has a week to decide) to close Russian market for Ukrainian goods. The bear knows well Ukraine's weakest spots. In spite '93 agreement Mishka triggered few "economic wars" already. In Jan 2006 Russia declared "chicken and cheese war". Mishka found that Ukrainian milk and meat products pose the threat of contagious diseases in Russia. Since Jan 2007 when Mishka mentions "gas" - Ukraine freezes. Not only literally. Ukraine economic fate is tied to oil and gas as Ukraine major export (after grain and sunflowers) is steel. To produce steel this country needs a lot of gas. Until now Mishka and Vladimir supplied gas (with few telling interruptions) at below market prices. But that's due to change. The new gas contract is being negotiated. The guess is not will the price be higher - but will it be "un/bearably" higher.
In Ukraine (as in many other places) money rules. Ru$$ia i$ flu$hed with $$$$$$$. And annoyed with what it calls "the encirclement strategy" employed by the US/West.
Since Peter the Great the Russian doctrine is based to ensure access to the Baltic in the North and the Black Sea in the South. Peter won access to the Baltic. Cathrine's soldier Potemkin ensured access to the Black Sea. Russia will not allow even contemplating a loss of access to the Black Sea and Sevastopol naval base - which population is 72% Russian.
For those not quite familiar with Crimea - it was donated to Ukraine Soviet Socialist Republic by Khrushchov in 1954. Since Ukraine independence suzerainty of Crimea is subject of heated debate.
Russians will not repeat embarrassment of 2004. If - following collapse of coalition government this week - early election take place, my guess is that a party backed by Mishka is most likely to win.
Russians will not repeat embarrassment of 2004. If - following collapse of coalition government this week - early election take place, my guess is that a party backed by Mishka is most likely to win.
September will countinue to be exciting month. Not only beacuse at the end of it FIFA has to finally decide if Ukraine is on its way to be ready to co-host the football championship in 2012.
In the meantime Mishka taps his paws...
Credit: the amazing photo of the bear is downloaded from www.firstpeople.us
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