Greenspans part in diffusing the crash of 1987
http://www.washingtonpost.com/ac2/wp-dyn/A1742-2000Nov11
http://www.washingtonpost.com/ac2/wp-dyn/A1742-2000Nov11
kriesau said:
Yes! I was amazed when I first saw the pictures.. Had no idea that USA was like that!
Hope at least now the US govt. does the right thing for the affected people. Many countries
have pledged aid for the hurricane disaster.
I have to say - Thank God there is no "gun culture" here in the UK.
JillyB
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karmit said:
Unfortunately you'd probably find that, if anything so devastating hit the UK, there is more of a gun culture there than you realise.
I agree though - how much notice does Mr Bush need - the weather reports for days before were saying how catastrophic this was going to be, surely an emergency plan should have been put into place in readiness. When the govenor of the state evacuates a major city, then isn't that reason to do something? Rather than waiting until several days after the event ......and oh look! we seem to have a problem!!!
By the way Dow up 10,496.
mickandpete
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The main problem here is scale
How big is the disrubtion/destruction?
For instance I saw one report that stated 8% of the worlds coffee is stored in New Orleans
It would appear that the authorities are unable to assess the number of human casualties so how on earth can they reliably estimate the economic damage
How big is the disrubtion/destruction?
For instance I saw one report that stated 8% of the worlds coffee is stored in New Orleans
It would appear that the authorities are unable to assess the number of human casualties so how on earth can they reliably estimate the economic damage
Pat494
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New Orleans
Some folks won't be wringing their hands for more than the decent time expected ( 5 seconds tops ) but looking at it as a business opportunity. Cheap land, reconstruction, making a buck is what it's all about !! Callous you say? That's right. That's the world we live and die in...........
Some folks won't be wringing their hands for more than the decent time expected ( 5 seconds tops ) but looking at it as a business opportunity. Cheap land, reconstruction, making a buck is what it's all about !! Callous you say? That's right. That's the world we live and die in...........
There is something surreal about this market !Racer said:The way the market is reacting to disasters now, the next time there is one I don't expect any sort of pullback at all .. it will go up lots!
Ok - crude has fallen back 2% today but it is still above $66. Higher gasoline prices will stay due to the shortage in refining capacity. Perhaps the market is pricing in an anticipated pause in the Fed rate hike this month. Even if that were to come it won't change the market fundamentals.
Around 70% of US GDP is based upon consumer spending - that is going to decline over the next few months with higher interest rates and higher energy costs. The September trade deficit will be horrendous and the domestic budget deficit will be inflated by aid to the disaster area.
So where is the beef to sustain this market ????
Seems to me that the PPT are working overtime today.
macbonzo
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kriesau said:
I will look to get short towards the end of today's session or pre market tomorrow. With the slew of poor data that is coming up in the next 6 weeks, I really can't see the market not selling off. Today, people are back from holidays, there is some beginning of the month buying and Crude is back below $66.
I have to say, I don't think there is a cat in hell's chance that the FOMC will leave rate unchanged on 20 Sept, but the market seems to buy the story.
10600 is quite possible but in this game patience is a virtue.
mickandpete
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I somehow get the sense that looking in from the outside we can see something that those inside.cannot. As an earlier poster succintly noted "SURREAL"
looking at a dow daily chart,im thinking we,re at the beginning of another wave higher towards 10800ish completing a typically bearish upward sloping channel,then the big sell off.thats my guess for the medium term.this market has rode out everything including the kitchen sink being thrown at it.there has to be some more upside here first.kriesau said:
