Once More Into The Fray

Turns out the Nikkei is closed, but US markets are open tomorrow. Early news from Australia is that we're indeed seeing a bear market rally and bargain hunting to an extent. Dow futures are up around 3%.

But the remaining problems are still very much present. I seriously doubt we've hit bottom yet. Third quarter earnings are going to come in and really knock the steam out of things. There's a lot that will continue to go wrong before it goes right, and any other kind of shock right now, another round of near failures in banks for instance, might be enough to do us in.

All the problems we had three months ago are still there. Some measures are in place, and there may yet be some short-term recovery.

But I'm still betting on bad numbers in the future. This problem will keep unwinding and we're now all but out of options to deal with the next problem: massive inflation. Cleaning that up will take a long, long time. We're in for years of pain, not months.