The Economist is often quite pithy in their commentary but thought this weeks leader out today, is worth storing for the record books. The general theme is that in looking beyond the bailout expect worse to come, as we peer over the brink. Note the reference to the US Senate not being used to being second guessed, but this time that has occurred conclusively World on the edge | Economist Continue reading World on the edge | Economist
This from a “30year veteran of the bond market. My career began at the Open Market Desk of the Federal Reserve Bank of New York and the significant majority of the subsequent years were spent trading (Treasuries) or selling high grade fixed income product for some of the largest primary dealer firms” The situation is grim: Endgame?, by Tim Duy: News is flowing in faster than the ability to process the implications. When I went to bed Saturday night, the only sure thing looked like the liquidation of Lehman Monday morning. A scant 24 hours later, to that liquidation is … Continue reading "I truly fear for our economy and our system the next several days"
