The majority of articles in journals,the discussions on audio/visual at Bloomberg and Market Watch,the intervention of the Fed and the direction of the markets all point to no imminent or severe market correction at all.Wall Street et al must be allowed to weather the consequences of its binge.
Contributors are pointing to the resetting of mortgages in the sub prime next month as the telling time and the impending recession.
Analysts are not divided equally on a recession but lean heavily to no recession at all.The President said the government will step in and help people reset their mortgages to prevent them losing their homes.The Fed will cut rates(some say 125 basis points)to help with credit-this,of course,won't help the banks with the debt problems they have on their books(I think?).
It would seem there is no financial risk in the markets now and investors are certainly backing that up with the indices climbing when they really should be.......
So where is this credit crisis?