Is today over yet? I fully expected to see some volume and emotion enter the market today: day after 9/11, Bush on Iraq, Greenspan on Capitol Hill--. Boy was I wrong!
It looks like there's intense confusion at the moment. Why didn't Greenspan say anything in his prepared remarks about the economy? ("Because there isn't anything positive to say about it!") Why did Bush sound so diplomatic? ("Because you just don't stand before the assembled United Nations and say 'We're going to war, and there's nothing you can do about it!'") How can we put a positive spin on the jobless-claims and current-account reports? ("You can't!") At least we're got that 1H2003 recovery to look forward to! ("Really?")
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