Sunday, October 26, 2008

Which Headline is Worst?

G7 Warns Yen Moves Excessive; Nakagawa Says Japan Ready to Act on Currency

General Motors Said to Ask U.S. Treasury for Aid in Chrysler Merger Talks

Syria Says U.S. Helicopter Attack on Village Near Iraqi Border Kills Eight

Ukraine Gets $16.5 Billion Loan From IMF; Hungary Next in Line

These are 4 of the 9 headlines currently posted on Bloomberg. They are all bad; each, in itself, is enough bad news for a week.
I would like to offer that Japan acting to contain Yen advances is the biggest problem. World governments' interventions have turned a problem into a catastrophe, and will continue to make matters worse.

Look, as well, for Ford and GM to be the next Fannie Mae / Freddie Mac. Why can't we let them die in peace?

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