How Bad Is It? Greece, Panic and the Crisis of Confidence

Cross-posted at River Twice Research.

The Greek debt crisis finally spilled over in full force to U.S. markets, aided and abetted by extreme statements emanating from such esteemed and prominent voices as Muhammed El-Erian of the large bond investor Pimco, who warned that Greece could be just the beginning of sovereign debt catastrophes. In the space of minutes, the major U.S. indices plunged more than 10%, fueled by the same programmatic electronic trades that were part of the battering in late 2008 into 2009. And then in the space of 15 minutes, they recovered, without – it’s fair to say – much human decision-making during that interval (and if an individual even tried trading during those 30 minutes, they would have found it difficult or impossible, as web sites such as schwab.com were completely overwhelmed with traffic).

 

There's more...

Pig Panic!

(cross posted at kickin it with cg and motley moose)

For the last few days I have been glued to my TV, washing my hands compulsively and been trying to stand a safe distance away from people.  Not that its helped much since, in my city there are 4 confirmed cases of swine flu today.  

At the same time as the Toronto cases were confirmed, Minnesota Republican Rep. Michele Bachmann, was busy suggesting that President Obama was to blame for the swine flu crisis. Bachmann implied that swine flu epidemics are a Democratic phenomenon that date back to President Carter.

"I find it interesting that it was back in the 1970s that the swine flu broke out then under another Democrat president Jimmy Carter. And I'm not blaming this on President Obama, I just think it's an interesting coincidence."

Sadly Bachmann's facts are not quite right. As Republican President Gerald Ford, not Carter, was in office during the last outbreak of the virus.

In the meantime, before you get back to stockpiling water, vaccinations and food, you may want to take a look at this.

There's more...

AAAAAAHHHHHH!

AAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA AAAAAAAAA

AAAAAAAAAAAAAAAAAAAAAAAAAAA AAAAAAAA AAAAA AAAA AAAAAAAAAAAAA AAAAAAAAAAA. A AAAAA AAAA AAAAAAAAAAAAAA AAAAAAA AAAAAAAAAAAAAA; AAAAAAAAAAA AAAAAAA AAAA AAAAAAAAAAAAAAAAA AAAAAAAAAA AAAAAAAAAAAAAAAAAA AA AAAAA A AAAA AA AAA AAAAAA AA AAAAA AAAAAA, AA A.

AAA AAAAAAA AAA AAAAAAAA AAAA AAAAAAAAAA, AA AA AAAA!

AAA A AAAA AA.

There's more...

North Korea wants to conduct a nuclear test

From No Right Turn - New Zealand's liberal blog:

Great. Just when America is gearing up to bomb Iran, North Korea pops up and announces its intention to conduct a nuclear test.

Well, that's a clear policy success for the Bush Administration's strategy of refusing to negotiate under any circumstances, isn't it?

There's more...

How Bad Is It? Greece, Panic and the Crisis of Confidence

Cross-posted at <a href="http://www.rivertwice.com">River Twice Research</a>.

The Greek debt crisis finally spilled over in full force to U.S. markets, aided and abetted by extreme statements emanating from such esteemed and prominent voices as Muhammed El-Erian of the large bond investor Pimco, who warned that Greece could be just the beginning of sovereign debt catastrophes. In the space of minutes, the major U.S. indices plunged more than 10%, fueled by the same programmatic electronic trades that were part of the battering in late 2008 into 2009. And then in the space of 15 minutes, they recovered, without – it’s fair to say – much human decision-making during that interval (and if an individual even tried trading during those 30 minutes, they would have found it difficult or impossible, as web sites such as schwab.com were completely overwhelmed with traffic).


There's more...

Diaries

Advertise Blogads