‘Cause we have no choice
But to carry on
This was one of the craziest weeks I can remember, it feels like a million years ago that we were waiting to hear about Monday’s debt ceiling vote in the Senate – and then global markets just completely skidded off the rails despite the bill’s signing. Europe’s disintegration mattered a lot more than a temporary hike of the debt ceiling, our own economic data certainly didn’t help much either.
The global markets have lost $2.5 trillion in the past week, about the size of France’s economy as I blogged earlier. And while markets may have stabilized for a moment, still there are so many questions.
Recession on the way? If so, how bad will it get?
How is Barry’s economists’ getaway up in Maine going? What do economists dream about in the wee small hours of the night? Do they scream in their sleep? Will the woodland creatures ever be the same again when the Mauldins and the Kotoks and the Ritholtzs depart?
And is there some secret wager going on between Silvio Berlusconi and Barack Obama about who can give the most ineffectual speeches in the course of a month? Day after day these two helpless Chiefs without Indians come on TV to regale us with nonsense and nothing.
And Europe, are you serious?
Anyway, these are the unanswered questions on my mind, but as always, we’ll have to carry on. I’ll let CSNY take us outta here, have a nice weekend!