net madness, part 458

[Enrique Diaz-Alvarez]

Doug Henwood wrote:
> 
> Headline of the week, from TheStreet.com:
> 
> >Brazil's Woes No Threat to Internet
> 
> MarketWatch.com went public about two hours ago at a price of 17; last
> trade, 106, off the high of 130, when the stock was about 40 minutes old.
> See <http://quote.yahoo.com/q?s=MKTW&d=1b> for the latest.
> 
> This is truly nuts.
> 

Interesting couple of days. Brazil devalues, then gives up the dollar
peg. The Dow Jones is unchanged, the nasdaq actually up strongly on
these events. If the complete, undisguised failure of the IMF to stop
the financial crisis doesn't burst this bubble, what will? Lemmings
running out of money? But AMG data reports astonishing inflows to money
market accounts week after week. Just where the hell is that money
coming from? How can people simultaneously spend more than they earn and
send money to their money market accounts? I am really confused.


> Doug

-- 
Enrique Diaz-Alvarez            Office # (607) 255 5034	
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