Asia is getting slaughtered right now.
Hang Sang down over 1500 points.
Nikkei down 400 points
http://finance.yahoo.com/intlindices?e=asia
WHAT IS THE PROCESS TO REMOVE BONER AS SPEAKER?
The host cut him right off:
"Excuse me -- excuse me -- excuse me. I know it dropped quite a bit today, but at no point was it down a thousand points!"
The guest noted that he was including last Thursday and Friday as well.
Host: "Oh. Well. I guess it did drop a thousand points. Go on."
But it's all the fault of the 80 or so Tea Party people in the US House. They are to blame. No one else. [/s]
The Left is in denial, but I don't think they can keep this up for too long.
When the DOW gets to around 3500 it will be where it should be equity wise.
Barack 0bama, the members of his administration, Harry Reid and the Senate Democrats and Nancy Pelosi and the House Democrats should all be placed on the Economics Molester Registry and never be allowed to come within 1000 feet of a school or governmental institution for the rest of their lives.
The rout in the so-called risk currencies (Aussie dollar, New Zealand dollar, etc) and the rise in the yen is very disturbing. If anything, the forex market is where the Central Banks will intervene.
Ah, this just came over my news feed:
TOKYO (Dow Jones)—Bank of Japan Gov. Masaaki Shirakawa reiterated Tuesday that the central bank is paying particular attention to the negative impact of rises in the yen, which is now hovering around the Y77 mark against the dollar.
“Amid high uncertainties about overseas economies, particular attention must be paid to the negative impact of the yen’s appreciation on the Japanese economy via falls in exports and deterioration in firms’ profits and business sentiment,” Shirakawa told an upper house fiscal and financial affairs committee.
The BOJ chief added that a higher yen could have positive effects by increasing the nation’s purchasing power in the long term, while negatively affecting exports in the short term.
Man that Tea Party is powerful.