Well, I'm primarily talking about tragedies outside the US as we tend to be the benefactor of capital fleeing other areas. I just threw Katrina into the mix to show that we never really batted an eye to the event. Sure, if 50% of the us population got wiped out, I could give two shits about where the market is going. I obviously would have other problems to deal with.
Kudos to MMs
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Well, I'm primarily talking about tragedies outside the US as we tend to be the benefactor of capital fleeing other areas. I just threw Katrina into the mix to show that we never really batted an eye to the event. Sure, if 50% of the us population got wiped out, I could give two shits about where the market is going. I obviously would have other problems to deal with.
A good example of the "broken window fallacy"
Mises said "the sole determinant of increased wage rates and standards of living is increases in the per capita capital investment per worker".
Broken factories = capital investment in new factories... state of the art factories.
you don't replace a broken window with a 50 year old used window. you replace it with a new energy efficient double pane high tech window.
The broken window fallacy recognizes the easy-to-see economic gain of replacing the broken glass, but it fails to consider the harder-to-see economic loss that results because the money to pay for the broken glass cannot now be spent on whatever it would otherwise be spent on. By breaking the window you haven't created any new economic activity, you've only shifted activity from some other sector of the economy into the window-repair sector. Plus you have a broken window, which makes the transaction a net loss.
Great interview with professor Sjoden on CNN. No meltdown is occurring. I repeat no meltdown is occurring. The media is blowing this way out of proportion. At this point, the radiation leakage is 1/1000th the amount of radiation one would get if they got a CT scan in a hospital. Everything is being contained. Obviously this is very good news for the people of Japan and I for one am very happy to hear it.
So you believe CNN, but not anyone else?
"Japan Scrambles to Avert Meltdowns at Two Crippled Nuclear Reactors"
http://www.nytimes.com/2011/03/13/world/asia/13nuclear.html?_r=1&hp
If you ask me, the situation is in grave danger, and a core meltdown will send Nikkei - 5+ % with US SIFs left with no choice but to follow somewhat. But since the markets aren't open, it is no use guessing. Let's see what happens tomorrow...
Good thing no one asked you. The above quote is from the article that you linked. As of this very moment, there is no reason whatsoever to believe that the situation is grave.