Monday, October 13, 2008

One Business Not Sagging During Economic Downturn

Prostitution has not suffered drop-off despite economic meltdown

"It's still a good time to be morally bankrupt.

The plunging Dow Jones and panicky investors are hardly a problem for the world's oldest profession, where business is still brisk.

"The market is down, business is down, but we feel it less," said Dylan, 24, a promotional model-turned-Manhattan prostitute. "We're still busy."

But those woodies may disappear shortly.

A $516 Trillion Time Bomb About To Explode

"The complex and opaque derivatives markets in which these hedge funds played has been dubbed the world's biggest black hole because they operate outside of the grasp of governments, tax inspectors and regulators. They operate in a parallel, shadow world to the rest of the banking system. (...)

Most markets have something behind them. Central banks require reserves – something that backs up the transaction. But derivatives don't have anything – because they are not real money, but paper money."

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