From Around the Web (thanks to contributing editor RH):
“It’s a blood bath,” said Mark Kiesel, executive vice president of Newport Beach, California-based Pacific Investment Management Co., the manager of $668 billion in bond funds. “We’re talking about a two- to three-year downturn that will take a whole host of characters with it, from job creation to consumer confidence. Eventually it will take the stock market and corporate profit.’‘
The Financial Times and CNBC are reporting that J.P. Morgan Chase, Deutsche Bank and Merrill Lynch have been selling more than $1 billion in investments seized as collateral from two troubled hedge funds at Bear Stearns.
An investor in Europe, who didn’t want to be identified, says he’s been trying to get his money out of the hedge fund since February…
“We were restrained by a slowing US economy,” said Fred Smith, FedEx chairman, president and chief executive. “The weakened industrial sector is currently limiting demand for transportation services.”
A wealth of conflicting market signals that no one seems able to explain makes it difficult to figure out when the music will stop and the bills will come due. But it’s time to get ready…
Chicken Smith View:
The articles speak for themselves. There are way too many negative market conditions (not to mention governmental & social ones) that are lining up to form what could be a tremendous collapse to our economy and, in turn, our society. The storm clouds are gathering… will you be prepared for the storm?