Global market crash update
Updating
from yesterday's article on Bernanke and the Fed's credibility as they dawdle from decisive
action to avoid recession, it's becoming clear that a US market crash
is pulling down all global markets. US markets are closed today for
Martin Luther King Day, but the rest of the world is melting down while
Nero fiddles. Tomorrow's futures markets imply a 3-4% drop in the major indices when markets open.
The Fed is now further burdened with staving off a global market crash with its actions in the US. Fortunately, the world's economic leaders will be attending the World Economic Forum in Davos this week to control the effects of "irrational depression" that everybody is feeling. Hopefully, the Forum will stimulate the global Central Banks to work together in unison to lower interest rates and consider anti-inflation policy.
Bold assumption, but it's perfect timing for a special Fed rate cut tomorrow to reassure the markets that the Fed now "gets it".
Update: Matt Carter @ Inman News mentions that the World Economic Forum can be followed on various Web 2.0 media:
Can't make it to Switzerland? You can get "key Davos snippets" on Twitter, watch debates on YouTube, or join the Davos forum group on Facebook.
The Fed is now further burdened with staving off a global market crash with its actions in the US. Fortunately, the world's economic leaders will be attending the World Economic Forum in Davos this week to control the effects of "irrational depression" that everybody is feeling. Hopefully, the Forum will stimulate the global Central Banks to work together in unison to lower interest rates and consider anti-inflation policy.
Bold assumption, but it's perfect timing for a special Fed rate cut tomorrow to reassure the markets that the Fed now "gets it".
Update: Matt Carter @ Inman News mentions that the World Economic Forum can be followed on various Web 2.0 media:
Can't make it to Switzerland? You can get "key Davos snippets" on Twitter, watch debates on YouTube, or join the Davos forum group on Facebook.
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