Saturday, February 2, 2008

Barron's blabber

Now that the whole world is tired of subprime (and rightfully so); and that the monolines will quickly have a rescue package Barron's has found a new boogeyman: The Election!

"There's consolation, we like to think, after careful consideration of the merits and flaws of the four leading contenders, in the knowledge that the country in its 232 years has survived worse. Although we have to admit we're hard pressed to come up with specific examples. Maybe we'd best content ourselves with the fact that it survived." Then this:

"Should their overriding concern be that the stock market itself appears to be on such tentative footing that any moment can bring another stomach-churning crash? Or should they focus on the economy, which seems to be sinking, and with every passing day more convincingly, into the quicksand of recession?

Or would they do better to seriously fret that their bank, the one they've done business with forever, that has such nice, friendly tellers and where their pittance of savings is parked, might be teetering on the brink? Or, instead, furrow their brows over whether or not they'll still be drawing a paycheck or have a roof over their heads a month or two from now?"

Good grief! The market already had it's meltdown. It and Britney Spears will recover!

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