Makes little sense to me...

Graham_Devon

...but will probably make a lot of sense for others.

Howcome the dow jones is up 0.5% at time of writing?

Wookster

Relief rally after Sandy

dryhat

Graham_Devon wrote: »

Howcome the dow jones is up 0.5% at time of writing?

'Cos that's where they want it to be.

StevieJ

At time of writing for me it is down

wymondham

they make these figures up anyway I think!

dryhat

wymondham wrote: »

they make these figures up anyway I think!

You may think you're being sarcastic but you are right.

With the current dominance of high-frequency algorithmic trading that is exactly what happens.

They think of a price and the computers trade all day and arrive at that price, skimming off millions in the process and defrauding honest investors.

To describe it as a casino would be an insult to casinos.

Loughton_Monkey

Graham_Devon wrote: »

...but will probably make a lot of sense for others.

Howcome the dow jones is up 0.5% at time of writing?

Minus 0.15% at the time of reading.

Sandy is a problem for US Insurers, Utility Companies, and Uncle Sam. A boil on the backside of an elephant in the global economy.

Get Obama back in and watch it plunge.

chewmylegoff

dryhat wrote: »

You may think you're being sarcastic but you are right.

With the current dominance of high-frequency algorithmic trading that is exactly what happens.

They think of a price and the computers trade all day and arrive at that price, skimming off millions in the process and defrauding honest investors.

To describe it as a casino would be an insult to casinos.

i think you should rename yourself as "tinfoilhat".

WestonDave

Not sure I buy it but I did hear some economist on the radio last night suggesting that the construction work etc required to rebuild would create a sufficient boost to the economy to offset the days production lost - the damage costs are likely to largely be borne by reinsurers many of whom will be non US based. In other words the US economy will be getting a shed load of non US money fed into it to pay people to rebuild etc.

Masomnia

WestonDave wrote: »

Not sure I buy it but I did hear some economist on the radio last night suggesting that the construction work etc required to rebuild would create a sufficient boost to the economy to offset the days production lost - the damage costs are likely to largely be borne by reinsurers many of whom will be non US based. In other words the US economy will be getting a shed load of non US money fed into it to pay people to rebuild etc.

Surely that's fallacious thinking of the broken window variety?

Loughton_Monkey

WestonDave wrote: »

Not sure I buy it but I did hear some economist on the radio last night suggesting that the construction work etc required to rebuild would create a sufficient boost to the economy to offset the days production lost - the damage costs are likely to largely be borne by reinsurers many of whom will be non US based. In other words the US economy will be getting a shed load of non US money fed into it to pay people to rebuild etc.

It is at times like this that reminds me of my constant cynicism about GDP being a 'good' measure of financial health.

Will it increase US GDP? Absolutely, and utterly yes. By something like £20bn they say.

Can this event possibly benefit the USA economy? Absolutely and utterly not.

In this world, there is 'good' GDP and there is 'Bad' GDP.

There is 'wealth' and there is 'decline in wealth'. These have less dependance upon GDP than our masters would have you believe.