Month September 2008

Dow Jones. The abyss stares back

The Dow Jones average broke through the June 15 low of 10,962 today, closing at 10,609. This is an extremely negative technical sign and will almost certainly trigger more selling. In addition, there will be increased selling by those just…

Cliff-diving financial markets

It’s “the end of American capitalism as we knew it“, says a British economist, arguing that since it is the state that ultimately guarantees banks, that the state should therefore control them. If so, then why not keep these activities…

Schwarzenegger bangs rattle on high chair

Gov. Schwarzenegger now says he’ll veto the budget that finally got passed 78 days late. And if they override the veto he says he’ll pitch a hissy fit and veto hundreds of other bills simply out of spite. Golly, what…