We might be heading for a really bad day. To summarize
1. Asian markets tanked
2. Dollar continues to suck
3. Countrywide had to borrow $11.5 billion from banks to fund operations
4. Housing starts lowest since 1997
5. Unemployment is up 6000 unexpectedly
Great.
Just to followup on your list of pain, as of lunch time in Tokyo:
1. Yup (~-1percent)
2. Nope? (see below)
3. Yup
4. Yup
5. Amgen news–ring around the whitecollar jobs–too bad it’s a bullseye.
Grrrreat…
For the dollar, it appears to be up versus the Euro, but down versus the Yen. My understanding is that the Euro simply sucked more than the dollar…true?
I think this is sad for everyone (except employed wanna-be home buyers in thousand oaks, I guess). I kind of like small science/tech companies, and drugs to boot. I wonder if they give out prozac as part of the severance.
Fun day on the markets. Anyone want to start a thread for tomorrow’s predictions?
