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Terra Incognita

Started by pkamm, 09/30/2008 04:45AM
Posted 09/30/2008 04:45AM | Edited 09/30/2008 04:46AM Opening Post
I'm not going to try to forecast anything now. The seemingly impossible happened yesterday with the defeat of the bill and with all the partisan finger-pointing after the fact the atmosphere is toxic enough that I'm not really confident that it will be salvaged in any form. There are a number of historical crises somewhat analagous but none of them have very happy endings.

Yesterday's selloff in the commodity markets (which largely preceded the vote) may have been a deeper economic signal. The 'tipping point' may have been crossed. Naturally there's no way to be sure until one is looking back at it.