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Wild Ride Ahead

There are multiple reasons for the strength of the dollar and yen increasing while all of the markets worldwide are tanking. The dawning reality that there is going to be a global recession is one of the big ones, but another major problem is weakness among the insurance companies.

When people issue bonds they normally have insurance backing the value of the bonds. When the insurance companies that back the bonds get in trouble the bondholders normally have the right to redeem the bonds immediately. When AIG fell a lot people who had their bonds guaranteed by AIG had to sell assets to redeem their bonds, and they had to do it quickly. When large blocks of stock are sold, the market drops.

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October 25, 2008   Comments Off on Wild Ride Ahead

Clueless

MSNBC has a video report on people complaining that their neighborhood is overrun with rats. My suggestion would be for them to buy a Spanish-English dictionary and look up the name of their town: Boca Raton. Do you think there might be a reason the Spanish explorers chose the name “Rat Mouth”?

You clear the land and kill all of the large snakes and you are going to have rats in Florida.

October 25, 2008   7 Comments