So everyone’s piling on now: – OPEC: “The more bearish economic trend which has materialized in recent weeks could negatively impact demand growth in the second half of the year.” – WTO: Global economic and trade expansion could slump in 2008 because of the credit crunch sparked by the collapse of the U.S. subprime mortgagecontinue reading
Business Archives
Everything old is new again
OK, forget 2001 pre-September. Think back to the summer of 1998. Where were you? What were you doing? (OK, so I know the answer to that for most of you.) Think back to key events: The Russian ruble’s collapse. Long-Term Capital Management’s blow-up. Week-long canoe trips. Here’s why the sub-prime mortgage problem cannot be contained.continue reading
Up with Mondays
Back in the early part of 2001, when the tech meltdown was underway, the stock markets were incredibly volatile, as a look at the CBOE’s VIX index since 1990 shows: A pattern emerged: throughout the week, things would get progressively worse, with Fridays ending down a few hundred points, the decline usually accelerating after 2continue reading