Kedrosky distracted, stock market crashes
As talented and popular and sought after as he is, it’ll come as a surprise that Paul Kedrosky is blaming himself for the few hundred points that’s been sliced off the Dow Jones Index over the past few days.
And while I stopped reading his blog some time ago, I was drawn to it tonight for some unknown reason. Turns out, my spider sense was right. He has finally written a self-deprecating blog. Today was the day, and lucky me, I just happened on by to find this post:
“Sorry About the Stock Market Crash
I’m in meetings today and tomorrow and generally incommunicado, and apparently the stock market can’t stand my absence. Sorry about that. June 7-07”
I think we can now declare, officially, that Mr. Kedrosky does indeed have a sense of humour. From prior interactions I wasn’t at all certain. But this post confirms it for one and all. What else could it mean? Unless he actually has a divine role in the capital markets. Could he? What if he does?
Let’s hope he comes back to work soon, before the Dow drops below 10,000. That’d send consumer confidence into the toilet. Which would start an immediate recession. Weaker businesses would get boarded up, folks will lose their jobs, those adustable rate mortgages would go unpaid, shiny SUVs would sit on new car lots, gold would rally further (doing funky things to the US dollar), and the banking system might fall into crisis as the CLOs and CDOs reneg on all that paper they’re choking on. A depression isn’t out of the question then, of course.
So, Paul, do us all a favour, and get back to work asap!