POP!posted by The Vidiot @ 8:10 AM Permalink Long-time readers know that I'm a bit of a nut when it comes to derivatives. I think derivatives are THE DUMBEST most RIDICULOUSLY TENUOUS things to ever be invented. Mostly because they're concocted out of thin air. Well, guess what? They're beginning to go boom. Will this cause ripple effects or are they the part of a ripple effect? The dollar is falling, foreclosures are up the price of homes is dropping. These are some of the things derivatives are made of. Who knows, but it fascinates me that the Bushies are out there saying the economy is fine and wondering why the people say no it isn't. (Of course, the media would have you believe it's about the gas prices. I guess they don't want to bring up inflation, wage stagnation and real estate prices.)
As an aside, have you ever noticed that when the stock market rises 50 points it's "a big day on Wall Street" but when it falls nearly 200 points, the markets are down only "one to two percent."