Thursday, January 17, 2008


Another exciting day on Wall Street.

What was weird watching CNBC today is that it sounded like all of the things that doom and gloomers like me have been talking about (housing crash matters and is going to get worse, bond insurers are going to go tits up causing broader financial system problems, it isn't a credit crunch liquidity problem but a solvency problem, etc...) are finally sinkning in for all of the financial bobbleheads.

I don't make predictions about the stock market because, well, what do I know, but the degree of optimism from supposed experts over the past year about the broader economy has been somewhat amusing. I think today's the day it died.