An Economical Thought
Since we’re in the middle of a credit cruch, it’s probably not a good idea to use equity market performance as a way of measuring how bad it is. Instead, you could probably look at credit markets.
For instance: the Dow might have gained back much of its record-setting Monday loss on Tuesday, but credit markets are apparently still in serious trouble. Oh, LIBOR, how long shalt thou terrorize us?!
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Oh, but how else will the financial media make a compelling narrative out of the ups & the downs of the market. (E.g., clearly today investers realized Obama has growing lead over Obama, and thus they feel secure enough to buy stock!) Just repeating, “We’re so fuck,” “Oh man, are we fucked,” is such a bummer, man!
Comment by Brad | October 1, 2008
the more I think of it the more I’m convinced that re-financing bad mortgages into good ones where possible is really the way to go.
Comment by Rob B | October 1, 2008