>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.
Two possibilities: different sets of people borrow money and buy stock. Or people borrow to buy stock. Maybe both.
Doug