Will Worldwide Rate Cuts Work?
“Economists supported the move, while voicing concern that more, still, will need to be done. ‘At last, a co-ordinated show of force,” writes Ian Shepherdson, chief U.S. economist at High Frequency Economics. “The move is to be applauded but there is more to come. The playbook to avoid depressions says rates need to be as close to zero as possible, banks have to be rescued, public spending has to rise and free trade must be maintained.’”
The Adjustment Process
“There are huge and scary downside risks today, but I'm actually more sanguine now than I was in 2005. If you think back to 2005, we were standing at the precipice, and there was no where to go but over the cliff.”
Dow zero? At this rate, we'll almost be there by Halloween
“Just 19 more days like this one and the Dow Jones industrial average will be at zero. And we can all start over from scratch.”
Crisis takes toll on China’s rich
“China’s top 50 richest people lost almost a third of their wealth in the past year, the first decline since 2002, according to Hurun’s 2008 China Rich List, published on Tuesday.”
That's the Bottom, For Now
“I’ve noticed Joe Sixpack has finally caught on after being smacked with headline after headline warning of a ‘financial crisis’ and ‘another great depression’. I’m pretty sure most of them have now sold their mutual funds now. Hell, even Jim Cramer capitulated hitting the “SELLSELLSELL” button. Jim Cramer Says Sell, Almost Guarantees a Bottom.”
RW: Shall I, go long, too?
The Kitchen Sink Rate Cut
“This better work; I don't know (and haven't talked with anyone else who seems to know either) what else they've got if this coordinated rate cut doesn't do the trick.
Hey, maybe it is working...
or maybe it's this unexpected news (sub req):
The pending home sales index surged 7.4% in August to 93.4. The level of pending home sales in July was revised higher as well.”
To do, not to do
“Readers ask what I think should be done about the financial crisis. The answer is, what Gordon Brown in doing in Britain: a bailout, yes, but one that gives the government an ownership stake in the bailed-out institutions. That plus a serious fiscal stimulus plan that includes emergency aid to state and local government.”
It's Not You. It's Me. Worst Market Returns To-Date
RW: Some humor
Google Fights Drunk Mailing
“A new optional feature on Google Gmail, "Mail Goggles," requires users to solve a few math problems before being allowing to send an email, a test that could deter the practice of mailing while drinking. "Sometimes I send messages I shouldn't send," said Google engineer Jon Perlow.”
Report: Passenger Allowed to Board Plane After Grenades Found in Luggage