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alstry (35.35)

Wag the Economic Shih Tzu

Recs

8

March 20, 2008 – Comments (2)

The unwinding has begun without many really knowing about it.

Our former fed governors say we are facing the worst financial crisis in over 60 years.  Hedge funds collapsing.  Banks collapsing.  Cities and counties on the verge of bankruptcy.  LEH says everything fine but begging at the discount window.  Layoffs starting to really pick up.  Earnings imploding (S&Ps PE higher this year vs last even though price lower).  Airlines cutting back.  Auto manufacturers cutting back.  Truckers pulling off to the side of the road.  Hotel bookings down.  Teachers getting cut.  Hair cutters slow.  Slowing sales at retailers.  Retail inflation picking up.  Upward sprialing forclosures.  Incomes stagnant.  But don't worry, we are not in a recession.

Anyone think there is a chance of some kind of diversion before we must really smell the coffee?  Can't you hear that rattling sound?

 

2 Comments – Post Your Own

#1) On March 20, 2008 at 1:51 AM, DemonDoug (77.37) wrote:

I've got Merrill Lynch in the Merrill v. Lehman who goes bk first.  Who are you taking?  (or do you think morgan stanley or ubs will get there before them...)

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#2) On March 20, 2008 at 2:40 AM, klemenv (99.75) wrote:

This market is a little bit fishy. Companies that have stellar news or earning reports are sinking, while companies with counter-stellar performance are rising.

I smell putting head in the sand. 

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