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.
Todd Harrison is the founder and Chief Executive Officer of Minyanville. Prior to his current role, Mr. Harrison was President and head trader at a $400 million dollar New York-based hedge fund. Todd welcomes your comments and/or feedback at firstname.lastname@example.org.
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