Thread: While you were sleeping...

A very important person, Attila Szalay-Berzeviczy, in European Banking,Global Head of Global Securities Services at Unicredit (and former Chairman of the Budapest Stock Exchange) wrote an oped in a Hungarian paper. You might have missed it over the "BBC Trader" Alessio Rastani; Who is probably the most honest person ever to speak on TV about traders and institutions in the industry. But back to Berzeviczy article.

The future.

Originally Posted by austrianecon

A very important person, Attila Szalay-Berzeviczy, in European Banking,Global Head of Global Securities Services at Unicredit (and former Chairman of the Budapest Stock Exchange) wrote an oped in a Hungarian paper. You might have missed it over the "BBC Trader" Alessio Rastani; Who is probably the most honest person ever to speak on TV about traders and institutions in the industry. But back to Berzeviczy article.

The future.

You are such a faker, Austrianecon!

Sorry, but the losses of "private stakeholders" will not be socialized anymore. Suck it up -- this is the foundation of a free-market economy.

The assumption that Europeans -- in contrast with Americans -- hate the financial markets because they can't dictate them for their political gains is just outright hilarious.

In short, a real crappy Op-Ed.

Originally Posted by janpor

You are such a faker, Austrianecon!

Sorry, but the losses of "private stakeholders" will not be socialized anymore. Suck it up -- this is the foundation of a free-market economy.

The assumption that Europeans -- in contrast with Americans -- hate the financial markets because they can't dictate them for their political gains is just outright hilarious.

In short, a real crappy Op-Ed.

Uh... I have no issue with the equity of private shareholders disappearing and nobody is actually talking about that. What people are concerned about is Bond Holder who lends money. Bond Holders in the Piigs are not people individually but institutions (Government, Banks and Hedge Funds) that buy bonds for a group of people.

I have no problem sucking it up. But does the rest of world? Will you be singing a different tune when trillions of dollars disappear overnight?

For example.. it's very possible your bank owns Piigs Bonds. If those Bonds are defaulted on all that money your bank lend to the Piigs just vanishes. The very next day when you go to the ATM and want to withdrawl some money and you can't because your bank has no funds to cover your withdrawl.

This happen before and will happen again. The Great Depression was filled with these examples.

Now what you do think the ECB is going to do? ECB is going to flood all banks with extra Euros.. bailing out the system. But the market will punish the ECB for this by valuing the Euro more cheaply (inflation). The ECB and the leaders of Europe think they can avoid all of it, but they can't. Greece can default today or 10 years from now, either way it's gonna end the same way.

That's where the European ignorance and even American ignorance within Governments comes from. I don't assume this, it's a fact. It will take Germany to say no and it has yet to do so.

Are ya sleepin' good?...

Bad sleep 'dramatically' alters body
25 February 2013 - A run of poor sleep can have a potentially profound effect on the internal workings of the human body, say UK researchers.

The activity of hundreds of genes was altered when people's sleep was cut to less than six hours a day for a week. Writing in the journal PNAS, the researchers said the results helped explain how poor sleep damaged health. Heart disease, diabetes, obesity and poor brain function have all been linked to substandard sleep. What missing hours in bed actually does to alter health, however, is unknown.

So researchers at the University of Surrey analysed the blood of 26 people after they had had plenty of sleep, up to 10 hours each night for a week, and compared the results with samples after a week of fewer than six hours a night. More than 700 genes were altered by the shift. Each contains the instructions for building a protein, so those that became more active produced more proteins - changing the chemistry of the body. Meanwhile the natural body clock was disturbed - some genes naturally wax and wane in activity through the day, but this effect was dulled by sleep deprivation.

Prof Colin Smith, from the University of Surrey, told the BBC: "There was quite a dramatic change in activity in many different kinds of genes." Areas such as the immune system and how the body responds to damage and stress were affected. Prof Smith added: "Clearly sleep is critical to rebuilding the body and maintaining a functional state, all kinds of damage appear to occur - hinting at what may lead to ill health. "If we can't actually replenish and replace new cells, then that's going to lead to degenerative diseases." He said many people may be even more sleep deprived in their daily lives than those in the study - suggesting these changes may be common.

Dr Akhilesh Reddy, a specialist in the body clock at the University of Cambridge, said the study was "interesting". He said the key findings were the effects on inflammation and the immune system as it was possible to see a link between those effects and health problems such as diabetes. The findings also tie into research attempting to do away with sleep, such as by finding a drug that could eliminate the effects of sleep deprivation. Dr Reddy said: "We don't know what the switch is that causes all these changes, but theoretically if you could switch it on or off, you might be able to get away without sleep. "But my feeling is that sleep is fundamentally important to regenerating all cells."

http://www.bbc.co.uk/news/health-21572686

Granny says now we got somethin' else to lie awake at night an' worry `bout...

Poor sleep linked to heart failure, Norwegian study says
5 March 2013 - Waking up too early and having problems settling back to sleep may have a negative impact on the heart, a study shows

People who have trouble drifting off to sleep may be at increased risk of heart failure, researchers say. The study, published in the European Heart Journal, followed more than 50,000 people for 11 years. Scientists found those who suffered several nights of poor sleep were more likely to develop the condition, in which the heart fails to pump properly. Experts say further research is needed to see if a lack of sleep causes heart failure or the link is more complex. Scientists at the Norwegian University of Science and Technology looked at more than 50,000 people aged between 20 and 89. At the beginning of the study, none of them were known to have heart failure.

In this condition the muscles of the heart are often too out of shape to do their job properly - they may be too weak or too stiff to pump blood around the body at the right pressure. More than 750,000 people in the UK have heart failure and for the majority there is no cure. People with the disorder may feel increasingly breathless and exhausted. And as heart failure worsens, it can be difficult to get a full night's rest - but the Norwegian study is one of few to investigate whether poor sleepers without the condition are at risk of getting it in later life.

'Stress hormones'

During the research, the participants were asked whether they had any difficulties getting to sleep or staying asleep and whether they felt fully restored after a night's slumber. People who had trouble falling asleep and remaining asleep each night were three times more likely to develop heart failure than those who reported no trouble sleeping. Those who experienced substandard sleep that failed to leave them fully refreshed were also at risk. And this link between a bad night's sleep and heart failure remained true despite researchers taking smoking, obesity and other well known triggers of insomnia and heart problems into account. The researchers say it is unclear exactly why poor sleep and heart failure are associated in this way.

Dr Laugsand, lead author of the study, said: "We don't know whether insomnia truly causes heart failure. But if it does, the good thing is it is a potentially treatable condition. "So evaluating sleep problems might provide additional information in the prevention of heart failure." He suggests the lack of sleep may provoke harmful responses in the body. "When you have insomnia your body releases stress hormones which in turn may effect the heart in a negative way," he said.. The same team of researchers have previously reported a link between people prone to insomnia and heart attacks.

'Unpleasant condition'

Originally Posted by austrianecon

Will you be singing a different tune when trillions of dollars disappear overnight?

This wealth was never real to begin with.