It depends on your definition of complete. There is no winning of this kind of war. It's more like cancer: it can show up anywhere, it can mutate, it can grow, and it can lay dormant only to return again somewhere else. It's a good analogy because everyone knows that they could get it anytime, yet we fight it at every level possible because it exists as a constant reminder of our mortality.
Until this week the US, because of its historical isolationalism, has always felt immune. Even when Pearl Harbor was attacked, it was certainly scary but it still was a territory far away from mainland. The resolve everyone has to take is that it will be a way of life to fight it, prevent it and treat it at the cellular level. There is no timetable, it is a matter of existence. Israel is the pinnacle example - from the day it was conceived they live with the constant threat of their mortality. We can never again be too comfortable to think otherwise. Despite that, they went from nothing to a flourishing economy.
JMHO
One other note, I heard that representatives of the New York fire and police have the honor of ringing the opening bell tomorrow. I think that is absolutely fantastic and will undoubtely be very emotional.
The best thing in my mind that could happen tomorrow is very orderly selling off with airlines and insurance probably taking the biggest hits. Not to be down but this will prove markets are efficient. What happens next is key: I hope people will take a long hard look at what real value is and will make sound investments based on that.
The key is that they DO invest. Does anyone know what the NYSE volume record is? I expect it to be shattered tomorrow. If portfolios really move into the markets tomorrow, look for one helluva base to build on next year. |
