Today is the day we have been waiting for. North Korea’s leader is mobilizing for war. The Euro is plunging to $1.21 @ 5 AM ET), stock futures suggest at least a 2% drop at the opening, LIBOR is zooming up, credit for business is drying up….
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Do I hear the thundering of the hooves of 4 horsemen ?
If you look closely in the distance, Timmy Geithner has his finger in the dike trying to save the tulip bulb crop
So much “stuff” going on. Oil is dropping like a rock. Gasoline (without taxes) is at $1.92 in NYMEX trading (oil is at $68/bbl). My memory is that breakeven for oil sands in Canada is about $80/bbl. The Canadian dollar is being hammered worse than the Euro. It was close to parity with the US dollar a few week ago… It’s at $1.07 CDN now to buy a $US.