…including a link to this very important note about the auction of Lehman Credit-Default Swaps tomorrow. It has huge implications for whether or not the credit crisis is manageable or is going to spiral out of control, fast. Go read.
Here’s Rawles’ predictions for the next decade. I don’t know that it’s gonna be as bad as he thinks, but he’s been very right so far….
After the Neikki Index lost almost 10% overnight, and the Russ index lost twice that (initially, then I went to bed), and Jakarta closed theirs, etc etc, it appeared that the Dow would fall off the table when it opened, but it didn’t, even if the “coordinated global rate cut” seems to have fizzled.
Gold is still going up, so SOMEONE is nervous….
Wait and see, I guess.
I don’t think I’d give Rawls quite so much credit for being “right so far” when he has his share of sky is falling claims that have failed to materialize. Yet. And there’s the rub… he can always claim to have only been off on his timing, even if his predicted time frame is way way off.
“Gold is still going up, so SOMEONE is nervous….”
Well, gold is also very strongly tied to the value of the dollar. There’s a direct relationship between the value of the dollar and price of gold, stated in US$. That’s also part of the reason why oil is so high.