The alarming news of a "Meltdown of U.S. Financial Markets in coming weeks" is coming from a bank in a country mostly known for Cheese and Wooden Shoes, so "what's to worry" one would say.



But even Steven Pearlstein from The Washington Post is pessimistic:

Could be the end of the world as we know it ... or it could be the capitulation phase of a down market, the time when everybody throws up hands and gives up, crying doom and gloom, while the smart money starts to buy.

Keep in mind, though, that if things are as bad in the U.S. as the Fortis fools (who just got themselves in a big-time liquidity crisis) say, imagine how bad it's going to be in places that don't have the people resources, natural resources or free-market flexibility of the U.S.

--Lan Sluder

Totally agree on Fortis; they are trying to get the attention away from their own problems.

On the other hand, the US economic situation will probably not improve until after the elections, and then it will depend on the new president and his economic policy. I think that is a normal reoccurring phenomenon.

The question then is how much impact the rising oil prices will have had on the economy and how the national debt can be lowered, to attract investors. Of course the smart money will buy but it is crucial to select the right timing; Brazil, China and India have become fierce competitors.

In the mean time oil will continue to go up, and tourism will suffer.

"The alarming news of a "Meltdown of U.S. Financial Markets in coming weeks" is coming from a bank in a country mostly known for Cheese and Wooden Shoes, so "what's to worry" one would say."

Guess they had it right after all.

Yes, but Fortis barely made it through this weekend themselves:
Fortis bank latest victim of credit crisis ; Fortis gets €11bn lifeline from three governments

In the mean time the crisis reaches an all time low: Hugh Hefner has to fire his Playboy Bunnies! Keep in mind that Grandpa Hefner even survived the crash of 1987 without any damage. See this article in the Telegraph: Playboy bunnies have become the latest victim of the credit crunch.

As usually my radical attitude shows
http://i201.photobucket.com/albums/aa3/elbertgreer/protestsinwallstreet--jumpyoufucker.jpg

Elbert - only after they have paid back all the money they have skimmed off!

A friend i worked with sent me some pics from 9/29/08: from an anti-bailout protest on Wall Street,
http://www.new.facebook.com/album.php?aid=2008421&l=797a3&id=1003315385

Pretty interesting, you have Rush Limbaugh and Jesse Jackson on the same side of the issue. Once again, politics makes strange bedfellows