Panic avoided. We live to trade another day.
Stocks End Amazing Day Little Changed
It is my firm belief that major hedge funds will collapse, bringing about a Savings and Loan/long term capital management (LTCM)/Enron-style collapse in the financial markets. This is a raw-materials blog for making sense of the mess after it happens. Update: With the U.S. government debating on a $700 million bailout for the economy, this crisis has surpassed my wildest expectations, so my new prediction is that the U.S. will default on its loans for the first time in history. [09/24/2008]
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