There was a report on NPR that empty cargo containers were piling up in west coast ports---because there was no cargo being shipped in the other direction. Can any of the LBOers confirm this report.
Sincerely, Tom
MScoleman at aol.com wrote:
> Today, the rumors began that several south American countries (Brazil, etc.)
> were going to have to devalue their currencies. The stocks of citibank,
> chase, and jp morgan plummeted at the news, sending the dow into an almost 300
> point dive, from which it recovered somewhat at the end of the day. However,
> the thought that south america might default on loans to the usa is truly
> serious. if a few banks like citibank and chase fail, it will make the S & L
> bailout look like a walk in the park -- this really could destroy US banking
> and probably would, imho, lead to a depression.
>
> maggie coleman mscoleman at aol.com