NVDL & Morpheus: Your world is an illusion. You have been warned.
From Sunday Times Stock Market oblivious to tales of misery and mayhem:
WE ARE in the midst of the worst financial crisis since 1998. The US housing market is in its worst state — sales and prices are down, foreclosures and defaults are up — since it started keeping statistical records 50 years ago. The fear of a recession is so large that a reluctant Federal Reserve has reversed course and sharply cut interest rates.
The dollar is falling to levels against major currencies not seen in decades. Oil is climbing to record highs. This week, Citigroup, one of the nation’s biggest banks, said that its profit for the three months to September probably would drop 60% from a year earlier. Could somebody please tell the stock market? If you look at the third quarter of this year, you will find tales of misery and mayhem, of credit crunch and crisis. It was a three-month period in which all the grim projections by the bears about the US economy seemed to come true.
Could somebody please tell the stock market?
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