and stocks are not collapsing. now, this is either the best
preparation for a rally, since the market ignores bad news
in size. or, which i tend to believe, after all the horrible
events of recent months, the market does not at all realize
what kind of news the most recent really are: devastating,
even by the terms this year already established.
madoff and citadel are per se issues. but they will trigger
chain reactions. investors will have to write each and
every engagement in madoff to zero by monday. and
if they are honest to themselves citadel's -50% and suspension
of redemption indicates that conservatively you have to
write that down much further as well.
now, many many pension funds were invested with
these two. things come to a point where not even the
combined force of all governments can seriously buy
out all parts of all economies. don't forget that even
the government finally pays stuff out of ... the economy.
there is a limit to everything.
preparation for a rally, since the market ignores bad news
in size. or, which i tend to believe, after all the horrible
events of recent months, the market does not at all realize
what kind of news the most recent really are: devastating,
even by the terms this year already established.
madoff and citadel are per se issues. but they will trigger
chain reactions. investors will have to write each and
every engagement in madoff to zero by monday. and
if they are honest to themselves citadel's -50% and suspension
of redemption indicates that conservatively you have to
write that down much further as well.
now, many many pension funds were invested with
these two. things come to a point where not even the
combined force of all governments can seriously buy
out all parts of all economies. don't forget that even
the government finally pays stuff out of ... the economy.
there is a limit to everything.