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Posts Tagged ‘budget talks in 2011’

What Caused the Market Meltdown?

Posted by Larry Doyle on August 4th, 2011 5:08 PM |

Everybody out of the pool” and “Adult Swim Only” are phrases that ring in my ear from my trading days at Bear Stearns. A long lost friend (God bless you, buddy!!) would bellow those statements when markets plunged like today.

What has recently drained the liquidity and lowered the water level in our equity market ‘pool’?

A number of critically important factors have been building and continue to haunt us.These include:

1. Meltdown in European sovereign debt. This is not and should not be a surprise. The meltdown was merely a matter of time. The outstanding question remains the depth and breadth of the meltdown. Stay tuned as risks remain very high.

2. The dysfunction in Washington truly displayed how screwed up our political dynamic is while shedding light on the enormity of our national debt and deficit. This reality is not changing anytime soon. Stay tuned as risks remain very high.

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