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Godot's Page: October 2008

Godot's Page

Gatekeeper to the Theater of the Absurd

Sunday, 19 October 2008

Hookernomics

They say that in times of recession, more is spent on tobacco and alcohol to alleviate one’s self from the hardships of reality. What about hookers? Here in Dubai, hookers are ever-more abundant in nightclubs, bars, restaurants, and hotel pools/beaches. Hookers even have days off when they blow off dudes like normal chicks do. Imagine getting peaced by a hooker, hilarious. I digress. What happens to the hooker dynamics when the economy takes on a downturn? Depends on how you view it. But I’d like to think of it as being in a separate bucket than cigarettes and booze, that’s because it’s a bigger percentage of income and signs of addictiveness are yet to be proven, scientifically at least (much to the contrary of what my friend E exhibits). So if that were the case, demand for hookers in Dubai should be declining, meaning a direct effect on prices…lower prices in turn translate to lower quantities of hookers being around as earning potential declines. Theoretically, this should mean that the fugly hookers (fookers) should be getting less calls than the ‘I’d fuckin marry this bitch’ type (IFMTB). With that, one concludes that the silver lining in this environment is cheaper, hotter hookers for all you folk out there reaching for their cell phones at 4 am on a Friday. Enjoy the 5 on 5…fuck I’d marry her style.

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Wednesday, 8 October 2008

Summing It Up Nicely

The Economist sums it up with more eloquence in the following:

"Bankers have always earned their crust by committing money for long periods and financing that with short-term deposits and borrowing. Today, that model has warped into self-parody: many of the banks’ assets are unsellable even as they have to return to the market each day to ask for lenders to vote on their survival. No wonder they are hoarding cash.

This is why those politicians who set the interests of Main Street against those of Wall Street are so wrong. Sooner or later the money markets affect every business. Companies face higher interest charges and the fear that they may one day lose access to bank loans altogether. So they, too, hoard cash, cancelling acquisitions and investments, in order to pay down debt. Managers delay new products, leave factories unbuilt, pull the plug on loss-making divisions, and cut costs and jobs. Carmakers and other manufacturers will no longer extend credit and loans will become elusive and expensive. Consumers will suffer. Unemployment will rise. Even if the credit markets work well, the rich economies will slow as the asset-price bubble pops. If credit is choked off, that slowdown could turn into a deep recession."


Good stuff...

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