Pruguy, you are correct. As I reread the piece there are a couple of errors and I apologize; written hastily but that is not an excuse. On the first, I was quoting CNBC stating that Brazil, provides 45% of THE income OF SOUTH AMERICA, ( not of our income from South America ).On the 2nd point, Brazil does provide only 2.5% of the income of OUR S&P.
The greater fear is that the tumbling of Brazil may set off a domino effect for other currencies.
After seeing the larger Asia tumble and the mighty Japan crawl, with nary a budge to our living standards, I tend to agree with the latest CNBC poll today that indicates that the majority of Americans, 51%
to be precise , do not feel that the Clinton trial will affect the markets. So, Brazil does not matter ( since obviously he can't save Brazil ). These guys in S.America have been squabbling and wasting time for eons.Wouldn't be surprised that when Brazil sees that they are sinking with nobody coming to help, they'll all start swinging their arms and swim to shore by cutting their huge budget deficit.
Looking to tomorrow, great earnings from Motorola and Apple; we are one day from options expiration Fri 15th, and the last day to load up on AOL before earnings and big earnings week next week.
I say we'll be up 80 points on the Dow tomorrow;AOL will close at 153-154 tomorrow, 156 Fri, then open at 162-165 on Tues and possibly close at 170,
there, I ran out of guesses,
TA |
