Hennessy's View

Domine, non sum dignus

8,000 Dow? UPDATE

So says Yale economist Nouriel Roubini in an interview today on CNBC. “There are some parts of the global economy that are now at the risk of a double-dip recession,” said Roubini, head of Roubini Global Economics. “From here on I see things getting worse.” Roubini’s comments came in response to a 376 point drop in the Dow Industrials. Nasdaq and S&P 500 were off significantly as well. Read more →

Debt Crisis: Greece, Portugal, Spain … ?

WSJ.com Alert: S&P downgrades Spain to ‘AA’ with a negative outlook, saying the country is likely to have an extended period of subdued economic growth. Markets react: DJIA plummets from +23 to –22 in seconds after S&P drops Spain’s debt rating. And the sovereign debt nightmare is only beginning. The UK is next. But the USA borrows more money faster than anyone, and Socio-History blog ain’t happy: As I pointed out yesterday, US debt threatens to end the economic stabilization. Read more →