"Alcohol brings everyone together." Absolutely goddamn right. I've been saying for months the the answer to this liquidity shortage is more liquid courage. No, it wasn't the repeal of Glass-Steagall that slowly ate away at the market, it was the partial revival of the Volstead Act in the hallowed halls of our investment banks.
The wind is changing, and here was the first clue:
...Kipton Davis, a Prudential Douglas Elliman broker from Virginia, thinks a little bourbon could be good for sales.
Just as a few drinks may coax timid traders onto a dance floor, it could help them muster the courage to buy multimillion-dollar apartments.
That's why on Wednesday night, Ms. Davis lured a half-dozen bankers, traders and friends on a condo tour of four TriBeCa buildings by offering wine and whiskey at every stop.
Any day now and we can expect Deutsche to quietly re-authorize expenses at strip clubs. We're calling a bottom. We are counting the days. Go long financial hedonism, friends.
For Apartment Shoppers, Some Liquid Courage [The New York Times] via [Daily Intel]