Comments on: Hair of the dog http://www.dinocrat.com/archives/2008/03/17/hair-of-the-dog/ Fri, 09 Jan 2009 03:03:21 +0000 http://wordpress.org/?v=2.6.3 By: gs http://www.dinocrat.com/archives/2008/03/17/hair-of-the-dog/#comment-302666 gs Mon, 17 Mar 2008 03:53:06 +0000 http://www.dinocrat.com/archives/2008/03/17/hair-of-the-dog/#comment-302666 In view of Larry Kudlow's track record in <a href="http://www.realclearpolitics.com/search/?query=kudlow&x=0&y=0" rel="nofollow">recent months</a>, it's worrisome that he <a href="http://corner.nationalreview.com/post/?q=MTI2NzFiMDc2MzUxNzMxNjgyYzQwNzY2ODJlNDI3MTk=" rel="nofollow">isn't worried</a>. In view of Larry Kudlow’s track record in recent months, it’s worrisome that he isn’t worried.

]]> By: gs http://www.dinocrat.com/archives/2008/03/17/hair-of-the-dog/#comment-302663 gs Mon, 17 Mar 2008 01:34:23 +0000 http://www.dinocrat.com/archives/2008/03/17/hair-of-the-dog/#comment-302663 <i>We shall see whether the market’s psychological response to these new, aggressive moves is positive or negative.</i> <a href="http://money.cnn.com/data/premarket/index.html" rel="nofollow">Futures</a> on the S&P500 and Dow were down about 2%. They might be recovering slightly but are still down significantly as I type. The situation is too serious for playing the blame game, but I'm pretty sure where the buck will stop after, hopefully, we get through this. (Hint: it won't be at the Democratic Congress.) <a href="http://www.dinocrat.com/archives/2007/08/18/pearl-harbor-2007-2/#comment-301815" rel="nofollow">Last year</a> I commented:<blockquote>It’s a good thing that the current Treasury Secretary is a hardened Goldman Sachs <i>capo</i>.</blockquote>Even if Paulson and Bernanke bring us through, I wonder if the Europeans and Asians, with OPEC concurrence, will form their own ratings agencies without whose blessing no American instrument will be acceptable in global financial markets. We shall see whether the market’s psychological response to these new, aggressive moves is positive or negative.

Futures on the S&P500 and Dow were down about 2%. They might be recovering slightly but are still down significantly as I type.

The situation is too serious for playing the blame game, but I’m pretty sure where the buck will stop after, hopefully, we get through this. (Hint: it won’t be at the Democratic Congress.)

Last year I commented:

It’s a good thing that the current Treasury Secretary is a hardened Goldman Sachs capo.

Even if Paulson and Bernanke bring us through, I wonder if the Europeans and Asians, with OPEC concurrence, will form their own ratings agencies without whose blessing no American instrument will be acceptable in global financial markets.

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