Years of wondrous Wall-Street engineering dissolve in reality.
French Megabank: the ECB is “a prisoner of financial markets’ expectations.”
“We are not panicking” – bank CEO.
The “most reliable profit driver” has “abruptly turned sour.”
The toxic mix of financial engineering and an oil-price collapse.
“Financial instability” is a euphemism for “crash.”
Stock markets are slipping all over the world. But outside of Russia and Greece, there is no sign of real panic. That will come later.
Yields spike, damage spreads. Investors try to bail out while they still can.
BMW insiders: Tesla CEO Elon Musk “is using us for PR purposes.” Stung by Daimler’s and Toyota’s exit, he wants to “decorate” himself with the name BMW.
That’s the new thinking about the markets in a crummy global economy where everything is overvalued.