Thursday, November 08, 2007
Trifecta from the New York Times
Here is an image of today's front page of The New York Times.
It is very unusual for the stock market or any other market to achieve headline status in a major metropolitan newspaper, especially the NYT. This headline hits the trifecta. It says that the stock market is sinking as is the US dollar. It attributes this in part to the fact that oil prices are at record highs (unadjusted for inflation) and that the housing market is in trouble (I guess that's four, not just three markets covered in one headline!)
I think this means that the stock market is at a low as is the dollar. Moreover, it suggests that oil prices are near the end of their run up and that the housing market as well and the financial sector has seen the worst.