1. Following on from the US downgrade by S&P on Friday, which incidentally is the right call as the US can’t be having a 4,000 bn debt and keep on adding to it by another 1,000 bn every year, the markets yesterday and today are crying like lost children pinched by savages. (sorry for such a bad metaphor.. it’s been a long day already)
2. Looks like the US is going to be battered, at least in the financial markets for the next couple of days. The outstanding factor will be what Bernanke does.
3. Amazing what a bunch of investors with ‘herd-like’ behaviors will do to the global financial system. It rally begs the question of what a regulator does, just sit by and see people losing their shirts, pants, and in the aftermath, losing their lives in a suicide perhaps?
4. The key issue is still regulation. If the large banks are just too babyish about it, too bad. You shouldn’t be making obscene money by being an intermediary or a middle-man for anything, not even for money. That’s the only realistic, right thing to do. It’s what Islamic finance does.
5. Perhaps it needs to be said, just like what Tun M said re: the obvious and for which he was branded as anti-semitic. Bernanke, Greenspan et al. The jews are getting their hands on the money and the others will just have to grin and bear it.
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