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Friday, October 03, 2008

The Big One

I watched the debate last night. I thought they both did well.

But it all seems oddly surreal right now. The financial crisis has built up enough steam that it will engulf all else. Regardless of what we all want to do or have intended to do, we will end up having to divert a lot of energy to battling this tide.

The bill in the House will probably pass, but it will pass too late. It will help a bit, but it won't offset the baked-in impacts of events in Europe and South America.

Watch Bovespa over the next week.

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