And in contrast to the swift federal response to stabilize the financial markets after 9/11, the Treasury and other key agencies may be too badly damaged and decimated to intervene quickly.
No Federal intervention could save the markets after a nuclear terrorist attack. Current market levels reflect wild optimism on stilts - any sort of successful nuclear event will trigger a horrific worldwide depression.
posted on 06/24/2005 11:10:26 AM PDT
by Mr. Jeeves
("Violence never settles anything." Genghis Khan, 1162-1227)
To: Mr. Jeeves
Depends, I think.
Initially I think you're right. Market economies are resilient, and what it will really mean in the short term is that futures in lumber, building materials, etc. will be very high. Non-essentials will go low.
Depends on how many bombs go off.
posted on 06/24/2005 3:16:43 PM PDT
(The problem with socialism is that eventually you run out of other people's money.)
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