Tuesday, November 25, 2008

No knock-out punch. No Loco-motion.

Last weekend winter has arrived in Vienna - just as the weatherfrogs have predicted. While friday was super-unfriendly, with some 3 degrees and heavy rainfall, saturday morning presented itself as a fantastic day with blue sky and crispy cold temperatures. A few hours later the sky darkened and when looking out of the window one felt like on a movie-set: the aircondition was turned down massively, the wind-machines were running on full-throttle and the guy on the roof emptied huge bags of tiny polystyrene-balls. We have never seen such funny and strange snowflakes before. After roughly 1 hour the snowflakes had againthe normal and usual shape one expects and our terraces as well the Prater put on a beautiful white winter-outfit. Luckily temperatures stayed low so that the snow did not disappear immediately. Unfortunately though the wind prevailed as well and not only made the temperatures feel much lower but also forced Markus' scooter into a horizontal position 3 times over the weekend.

The new week started of cold but nicely with stockmarkets all over the world being pretty strong. Not because Austria has a new government (or a t least new faces and new responsibilities), but because Citigroup, on of the largest financial institutions, has been bailed out over the weekend with a 20bn USD cash injection and a 306bn USD guarantee and investors were relieved and had enough of falling prices. How long will the euphoria last? Could be anything from 1 day to a couple of weeks. I would not get over-excited and not chase markets for short term profits, but clearly in the long run levels are attractive.

We are moderate and therefore did not celebrate the positive Monday with a Kylie-gig, huge fireworks and champagne like the opening of Atlantis - The Palm hotel in Dubai but with mulled wine and punch at the christmas market outside Schoenbrunn castle in Vienna with Viki and Stefan, Markus' brother. The four of us have not met for more than a months now and it was a nice, though a little bit wet-cold evening concluded with some snack and warm tea in their flat which is pretty close to Schoenbrunn.

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