Comments on: Oversea Market Update http://www.nakedcapitalism.com/2008/09/oversea-market-update.html Sun, 22 Nov 2009 21:35:21 -0500 http://wordpress.org/?v=2.8.4 hourly 1 By: Anonymous http://www.nakedcapitalism.com/2008/09/oversea-market-update.html#comment-15344 Anonymous Mon, 15 Sep 2008 15:43:00 +0000 http://www.nakedcapitalism.com/2008/09/oversea-market-update/#comment-15344 Of course, US equities markets were not hit this hard. I find the asymmetry interesting. Greenspan et al will do nothing, absolutely nothing, to even partially slow huge increases in equities markets (they were bubbles, of course). But now look at what the Fed and Treasury have done to make sure the Dow/S&P/NASDAQ do not deteriorate. How many Sunday night announcements are we going to get? Also, go back to the Fed's reaction to the burst of the NASDAQ bubble. Now it surprises me that they didn't do more than cut rates to the bone. I guess we're all lucky they didn't take Pets.com website as collateral under a lending facility back in late 2000. <br/><br/>Seriously, look at the huge decreases in equities markets across the world the last six months, and the US is barely down 20%. Asymmetry.<br/><br/>I'm not saying I want a meltdown. I have a small business. I will get crushed in a meltdown. But if Fed and Treasury won't play by a set of rules, eventually everyone else is going to stop playing and take their ball home. Of course, US equities markets were not hit this hard. I find the asymmetry interesting. Greenspan et al will do nothing, absolutely nothing, to even partially slow huge increases in equities markets (they were bubbles, of course). But now look at what the Fed and Treasury have done to make sure the Dow/S&P/NASDAQ do not deteriorate. How many Sunday night announcements are we going to get? Also, go back to the Fed's reaction to the burst of the NASDAQ bubble. Now it surprises me that they didn't do more than cut rates to the bone. I guess we're all lucky they didn't take Pets.com website as collateral under a lending facility back in late 2000.

Seriously, look at the huge decreases in equities markets across the world the last six months, and the US is barely down 20%. Asymmetry.

I'm not saying I want a meltdown. I have a small business. I will get crushed in a meltdown. But if Fed and Treasury won't play by a set of rules, eventually everyone else is going to stop playing and take their ball home.

]]> By: Richard Kline http://www.nakedcapitalism.com/2008/09/oversea-market-update.html#comment-15316 Richard Kline Mon, 15 Sep 2008 12:43:00 +0000 http://www.nakedcapitalism.com/2008/09/oversea-market-update/#comment-15316 As our Titanic of a financial system edges nose down in the brine, that whining keen you hear are the stern screws as they broach the surface with the cant o' the whole. When WaMu goes under, even without AIG blowing out, we'll have the stern in the air and the universal masters sliding down the deck toward the icy foam. Oh, to live in interesting times! As our Titanic of a financial system edges nose down in the brine, that whining keen you hear are the stern screws as they broach the surface with the cant o’ the whole. When WaMu goes under, even without AIG blowing out, we’ll have the stern in the air and the universal masters sliding down the deck toward the icy foam. Oh, to live in interesting times!

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