Bankers’ unity
That the world’s economy is more integrated than ever before was evident from the G-20 conference at Cape Town where the central bankers met and came up with a solution to the problem of liquidity/credit crunch faced by many of them. An auction among them followed by an auction by the central bank receiving the monies in its country. Its something like LAF in India and various countries now being extended across countries. With collateralised B&L it may be more like repo.
And as if my forgettable encounters with accounting and costing weren’t enough, I today landed up on an article on Mental accounting (I could not get an online link to it) but surprisingly it made a very interesting read. It is in fact related to sunk costs and opportunity costs that were long forgotten!
And while I brush up the old fundas of these different kinds of costs you enjoy this video from my favs on youtube.
P.S. A moment of pride: The San Jose State University in California set up Guru Nanak Heritage Institute to promote Punjabi language and culture.
