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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: Giordano Bruno who wrote (340252)8/8/2007 10:10:50 PM
From: stan_hughes  Read Replies (1) of 436258
 
Cuts were priced in before and disappeared in a few sessions -- I trust the futures not in giving me guidance.

There are too many moving parts to this mess we are in now, including exposure to the unpredictable actions of others who are largely outside US influence (e.g. China). Such factors were not present in substance in previous incarnations of similar messes.

IOW the working Fed models for crisis management can no longer be counted on to not fuck up due to these external occurrences = unpredictable non-traditional outcomes are now possible = today is much, much riskier.

When the next big global financial event outside the normal distribution arrives (hypothetical example, a country the size of Spain goes under and really gives a lesson in the merits of risk aversion) I think the jig will be up.

Only a matter of time now, and more debt just keeps piling up in the meantime
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