Feb 27 2007
Warning Bell: A Doozie of a Day in the Markets
So what was behind the tension released today? While the plunge caught so many off-guard today, the current excuse is what we’ve noted for many months now: there is far too much complacency.
However, regular readers know we think its much deeper than that. The complacency issue means too few are acknowledging the serious structural problems we discuss day after day, week after week.
Today’s headlines seem to be breaking through the denial. Will people listen?
Consider the other headlines today:
- Orders for Durable Goods in U.S. Fall 7.8 Percent, More Than EstimatedFor Manufacturing, a Recession Has Arrived
- Freddie Mac to Tighten Subprime Mortgage Standards
- Global Bond Risk Soars on U.S. Mortgage Defaults
- US mortgage default fears grow
- Worst risk to market? Subprime mortgages
- Subprime Game’s Reckoning Day
- Derivative risk threatens private equity
- Home prices fall most in 14 years
- Central banks cutting holdings of U.S. dollar
- Global markets get taste of risk appetite reversal
- Fannie Mae delays 2006 financial report
