I was watching the news today and thoroughly enjoying myself. What stuck with me though was the report given by the business correspondent regarding the performance of the stock market this week. According to the correspondent, trading in the last few days has been moving consistently sideways with nary an action because, as she pointed out, the fund managers and brokers in Europe are on vacation during the month of August. She said that bigger movements are usually expected during the fourth quarter.
I just find this amusing. With the world suffering from a global recession and with stock owners sweating buckets because of the uncertainty of these times, these brokers can still find the time to frolic in Europe’s hot vacation spots. Ibiza and St. Tropez, anyone? How they can actually relax with the financial fate of a lot of people lying in their hands I’ll never know. But I’m guessing copious amounts of alcohol may be involved.