PE Hub says the biggest wave of credit defaults may come during Q1 2009. Looks like we’re in this for a little while.
CS Investor covers the national debt clock, which has run out of space to cover the debt. The fix? Write (in trillions of dollars) in fine print underneath the sign. There will be plenty of space after that.
The Hill (via NFIB) covers how small business groups are rallying for Democrats this year.
Felix Salmon of Conde Nast Portfolio says the ideal of homeownership shouldn’t be promoted anymore.
I just learned about the VIX, otherwise known as the “fear index.” Its movements generally contradict other indexes, such as the Dow. Should be interesting to watch in coming months.
Yes, the credit crunch is continuing to create havoc in the markets. What is need is a new kind of economics which is ethical,and more humane. Here, I direct you to my work in progress project of Transfinancial Economics. See the p2pfoundation entry which gives the basics.
R.S.
The VIX keeps getting quoted almost every day by CNBC as if it is needed to determine volatily when the market is gyrating 1000 points in an afternoon. It’s a terrible situation that’s going to get much worse as the global economy is just now sliding into recession.
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Here’s our market view on American stock market for 10th October, 2008
The stock market has collapsed – since Sept. 19 the DJIA is down 25% and the S&P 500 is down 28% and down 42% from a year ago.
How can this happen so quickly and so dramatically when so many good things have occurred? Oil is down to $82 a barrel; interest rates are very low; the dollar is up; valuation levels are extremely attractive among many blue chip stocks.
What’s the real problem? The problem that is killing the stock market is a lack of hope about the future.
Hope springs from optimism that is based on facts and history. Look at the history of America and really all of mankind. Life is full of setbacks and problems – that’s just the deal. But this too shall pass, as all scary periods have.
Doomsayers have been around forever and their batting average is zero. Buying stock is based on hope – hope for the future. If one doesn’t have hope, they shouldn’t be in this business.
So what is the best service we, as professionals, can provide for our clients?