Liquidity Issues - Wine Prices Going Down?

THURSDAY, NOVEMBER 20, 2008

Liquidity Issues - Wine Prices Going Down?

During the tech boom in the late nineties Guido was buying wine faster than he could drink it (for once). When the tech collapse halved Guido's net worth he drank all the wine rather than see it, errm, depreciate. Seemed sensible at the time. This time Guido thinks he should just get short the Wine index (which is exchange traded) and drink the profits.

Unfunded Government Spending Up £1.4 billion in October

Public sector net debt (on the Treasury's definition) rose to £640.9 billion, or 42.9% of GDP. This does not include other liabilities such as off-balance sheet public sector pension liabilities.

Unfunded government spending is getting worse as the economy nose-dives. it would have been much worse if wasn't for the receipts from oil companies. 

With oil back down to $50 a barrel that won't be the case in the future...