Scary Thoughts: Isolationism and Acrimony and Deflation, Oh My!
You can't make this stuff up.
2008 has been a frightening time for global financial markets as ghosts of policies past haunt the house of pain. With Halloween upon us and October almost over, I wanted to share fare that scares me as we ready for the final few months of the year.
- Carnies. Circus folk. Nomads, really. They've got small hands and smell like cabbage.
- Bubbles that take years to cumulatively build.
- The other side of Our Wishbone World that could conceivably punish the savers that did the right thing.
- Reactive policy makers.
- Moral Hazard.
- Male pattern baldness.
- The emergence of isolationism that uproots the golden seeds of globalization.
- Mercury Retrograde.
- Martial law.
- Reward chasing over risk management.
- The same pundits who never saw this crisis coming are telling us when it will end.
- Iran opening a naval base at the Strait of Hormuz.
- Following the recent strife in Syria.
- People who believe that SCREAMING makes a message more credible.
- 10% moves either way in a given day as a matter of course.
- Mortgage rates hovering around 7% regardless of what the government says or does.
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