I have lost all faith and respect re the US financial system. Everything happening since last week makes me feel we are in a dream. It may be a nightmare to some but to me, it is more like an unreality, a poetic dream in which we all fly to the moon and in the next second, we land at Mars.
If my feelings are my guide now, I think we would see, within a short time, a grand suspension of several major stock markets around the world especially NY, London, Tokyo, Hong Kong and hopefully not Shanghai. I feel this is the only way to stop panic and give the market some time to THINK and CALM down.
What a disaster! No matter what the Fed may do on Tuesday's meeting, I don't believe that the financial sector can be saved from its unending troubles. The situation has gone out of control and what I am seeing seems even worse than my experience during the 1997 Asian financial crisis.
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