It may well be Black St. Patrick’s Day: today may well prove THE most crucial day on Wall Street since 1929. The Fed continues to pursue the same policies they have since September, with little success.
And the world markets are reacting in horror, running like hell from the dollar, and from US financial markets.
Can the Fed and the big Wall Street players stem the tide? Or are the dikes so eroded that all the fingers in the world can’t stop a massive collapse? No one knows: that’s what you need to keep in mind.
Economics is often called “the Dismal Science,” but never moreso than today.
Let’s all hope that the check-kiting Wizards of Finance and our New Robber Barons know how to stem the flood.
And keep your fingers crossed. You might want to drink a few more pints of Guinness ® than usual. Might be the last day you can afford to.
Happy St. Paddy’s Day. Erin Go Braugh.