Marlow’s Listener

Bubbles start to pop when the momentum traders run out of money and can no longer push prices up.

Barometers of financial stress hit record peaks across the world. Yields on short-term US Treasuries hit their lowest level since the London Blitz, while gold had its biggest one-day gain ever in dollar terms. Lending between banks, in effect, stopped.”

Mea culpa
The thoughtful and articulate former Reagan speechwriter and conservative writer in the Buckley tradition, Peggie Noonan, explains remarks she made during a commercial break of an MSNBC panel discussion. She denies that when she was heard to say “it’s over,” she was referring to the chances of the McCain campaign. She amplifies her uncharacteristically [...]