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Panic Free Market Malaise Roundup
Odds and ends on a day that hasn't stopped providing news on the financial melty-ness.
John McCain the self proclaimed ignoramus on all things economics assured us today that the fundamentals of the financial markets are sound. Why doesn't that remark provide me any comfort? The Dow thinks otherwise and so do the employees of Lehman and the investors holding shares of WaMu and AIG.
The Dow of course is just one indicator of the health of our financial system. Krugman and Calulated Risk are suggesting that we pay attention to the TED spread, an indicator of credit availability (liquidity). Both agree the widening spread is an indication of more market malaise to come.
Angry Bear postulates why The Eurpoean banks don't go belly up in large numbers and at the same time.
John McCain the self proclaimed ignoramus on all things economics assured us today that the fundamentals of the financial markets are sound. Why doesn't that remark provide me any comfort? The Dow thinks otherwise and so do the employees of Lehman and the investors holding shares of WaMu and AIG.
The Dow of course is just one indicator of the health of our financial system. Krugman and Calulated Risk are suggesting that we pay attention to the TED spread, an indicator of credit availability (liquidity). Both agree the widening spread is an indication of more market malaise to come.
Angry Bear postulates why The Eurpoean banks don't go belly up in large numbers and at the same time.
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