Wednesday, Mar 28, 2007
Global Stocks Markets Drop on Bernanke's Testimony
CNBC: Stocks Drop Sharply On Fed Chairman Bernanke's Comments
I told you it was going to be a choppy week!
These markets are a knife-edge. Smart money knows that asset prices are way too high. But these is a lot of dumb money looking for a home. Result: volatility.
Bernanke sees downturn in property "could be more severe than we expect". That's as near as these guys get to "it's going to crash". He also said "core inflation is above the level conducive to sustained growth". Translation: "We have an inflation problem". He also talked about wage inflation and rising mark-ups.
Their problem emanates from the same underlying cause as ours: too much credit. We seem to develop identical symptoms but only after a lag of a few months.
Posted by royston @ 04:07 PM (174 views) Add Comment
4 Comments
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1. paul said...
*clears throat*
see you in the darkness
I see you in the light
I see your eyes shining
In through the night
Make me feel, make me feel
Like I belong
Don't leave me, you won't leave me here
All Alone
Cast your eyes
Like summer skies
Blue earth and the ocean
Clearer than the skies, yeah!
Sunshine on a rainy day (sunshine)
Makes my soul, makes my soul drip, drip, drip away
Sunshine on a rainy day (sunshine)
Makes my soul, makes my soul drip, drip, drip away
You touch me with your spirit
You touch me with your heart
You touch me in the darkness
I feel it start
Make it feel, make it feel
So Unreal (so unreal)
Like a wind in the desert
Like a moon on the sea
Sunshine on a rainy day (sunshine)
Makes my soul, makes my soul drip, drip, drip away
Sunshine on a rainy day (sunshine)
Makes my soul, makes my soul drip, drip, drip away
Sunshine on a rainy day (sunshine)
Makes my soul, makes my soul drip, drip, drip away
Sunshine on a rainy day (sunshine)
Makes my soul, makes my soul drip, drip, drip away
Make it feel, make it feel
So Unreal (so unreal)
Like a wind in the desert
Like a moon on the sea, yeah!
Sunshine on a rainy day (sunshine)
Makes my soul, makes my soul drip, drip, drip away
Sunshine on a rainy day (sunshine)
Makes my soul, makes my soul drip, drip, drip away
Sunshine on a rainy day (sunshine)
Makes my soul, makes my soul drip, drip, drip away
Sunshine on a rainy day (sunshine)
Makes my soul, makes my soul drip, drip, drip away
Sunshine on a rainy day (sunshine)
Makes my soul, makes my soul drip, drip, drip away
Sunshine on a rainy day (sunshine)
Makes my soul, makes my soul drip, drip, drip away
2. dohousescrashinthewoods said...
Looking back a few months, I can hardly believe the deluge of downbeat news.
6 months ago all you could get was smug VIs quietly forecasting that prices would rise forever. Now we have seen actual price falls - severe in the US and slight in the UK (masked by London) and actual slowing overall trend of HPI.
Perhaps the best anecdotal sign is that Glorious Sunshine has disappeared off to try and divest himself of that BTL property.
3. Sam said...
easy now, paul and royston.
stocks dropped, but not that much. hardly sharply.
4. dohousescrashinthewoods said...
Paul, you beat me to it :)