And before I go I can point you to this lengthy and brilliant FT piece on the rollercoaster rides that the global financial markets, as well as our neighbourhood Dalal Street, are on. It puts a lot of things into perspective without going down either side of the slope. My favourite part was this, which is pretty much spot on.
“Typically interest rate cuts are effective in helping the corporate world when it is over-borrowed – but that is not the case now at all. In fact, it is not clear that interest rate cuts are going to motivate industry to invest more,” says the chief executive of one large insurer. “There is a real disconnect between what the Fed can do and its impact on the real economy – and the problem is that [Fed chairman Ben] Bernanke’s announcement may actually have a negative effect by signalling to the market that there is a problem.”
Read it if you're a markets person. Read it anyway. Regular programing, unrelated, I promise, to the markets, will commence soon. Thank you.