Levitation? Flotation? 24 February 2009
Posted by marisacat in 2010 Mid Terms, DC Politics, Inconvenient Voice of the Voter, Italy, Lie Down Fall Down Dems.
Pope Benedict XVI reacts as he loses his skullcap, blown off by a gust of wind, during his weekly general audience in St Peter’s Square at the Vatican. At right, the hand of the pontiff’s personal secretary Monsignor Georg Gaenswein, trying to catch it [AP]
Oh surely it’s a miracle!
After the deepening global downturn dragged down the stocks of U.S. companies outside the financial sector Monday, the spreading nervousness then sent the Nikkei 225 index in Tokyo 2.6 percent lower by late morning, nearing the 26-year low it had hit on Oct. 27.
The drop in Asian markets followed Monday’s steep decline in the Dow Jones industrial index, which ended the day 3.4 percent lower, while the broader S&P 500 fell 3.5 percent.
And don’t miss the description, “death spiral”…
“Why have emerging markets outperformed?” asked Michael Hartnett andMichael Penn, emerging markets strategists at Merrill Lynch in a note to clients on Tuesday. “Because excess positioning in emerging markets has vanished, emerging markets banks continue to outperform, policy ease has been big and Chinese growth expectations have stopped falling. But the death spiral in U.S. financials still threatens to take emerging markets back to the old lows.”
The Straits Times index in Singapore dropped 2.2 percent, and stocks in Australia fell 1.3 percent, both also falling near or below the lows of last autumn as the financial downturn accelerated.
The Kospi in South Korea dropped 3.7 percent, the Hang Seng index in Hong Kong shed 3.5 percent and stocks in Shanghai eased 1.4 percent – though in all three cases, the markets are well above last October’s lows.
I dunno… looks to me Sir Allen can give lessons in that old bugaboo, bi-partisanship. Clusterstock picked up on this in WSJ… just a tease as the bulk of the article is behind sub wall:
A fund of hedge funds run by two members of Vice President Joe Biden’s family was marketed exclusively by companies controlled by Texas financier R. Allen Stanford, who is facing Securities and Exchange Commission accusations of engaging in an $8 billion fraud.
The $50 million fund was jointly branded between the Bidens’ Paradigm Global Advisors LLC and a Stanford Financial Group entity and was known as the Paradigm Stanford Capital Management Core Alternative Fund. Stanford-related companies marketed the fund to investors and also invested about $2.7 million of their own money in the fund, according to a lawyer for Paradigm. …
Clusterstock added this line from the text behind the wall.. In case you were wondering if “family” are Bidens far away and long ago. Oh no.
Paradigm Global Advisors is owned through a holding company by the vice president’s son, Hunter, and Joe Biden’s brother, James.”
Just remember! Joe is the poorest senator! Obama has never been to Chicago! Soon he’ll say he’s never been to Washington DC! Just watch.
Riding right at the top of Clusterstock is an article on the Monday Slide… with this opening line:
The Good News… We are all losing hope.
Other good news: We barely heard the term “bottoming process” at all on CNBC today, which means that, perhaps, the bulls have lost all hope. That may or may not be a sign of a bottom.
Charlie Rose has on John Mack of Morgan Stanley… Couple of N Carolina boys shoring each other up, is all I see.