Crisis Diary as it unfolds ….

…. and the satan returns to the office

Ok… so now he is back.
Last week when I sent a mail to Satan inquiring his whereabouts, I got an out of office autoreply saying that he was currently out of office for christmas vacation and will return to haunt the wall street and financial markets in first week of January.

So Dow Jones took a 250 points beating today, but I believe this was just the trailer of what’s more to come. On Friday unemployment numbers and retail sales numbers are due sometime this week. can Obama continue to charm the markets or will the reality check pull the markets down again?

Some of the headlines of the day
1. India’s Enron – Satyam chief confesses to massive accounting fraud
2. No buyers for German government bonds – what gives?
3. Earnings season is expected to get uglier. But is market already pricing in worse?
4. Oil slipped near $40 on rising US inventories and easing Gaza

Holidays are over. Crisis is back.

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January 7, 2009 Posted by | News | , , | 1 Comment