Jan 26
The huge decline in world markets last Monday was not about recession. If this is really the case and traders have the weekend to mull it over, watch what happens Monday…imagine that a collapse in the markets turned out to not be the result of economic conditions but the impact of one stupid French trader who bypassed systemic safeguards and forced his employer to dump $70 Billion worth of bad trades as fast as they could before the market caught on. The world thinks the sky is falling, the Fed drops interest rates .75% and everyone goes berserk about recession- and maybe it was really about one bank employee in France?
That’s a global economy if I ever saw one…