"Federal officials want urgent inspection of the nation's 700+ steel deck truss bridges following the Minneapolis bridge collapse"
Uh, I remember a bridge collapse in the 1960s over the the Ohio River leading to a "urgent inspections" - ref. Silver Bridge collapse in 1967.
So again the government needs a body count to actually do something to protect the public. Sheesh.
The "subprime" lending scandal is a repeat of the late 1980s commercial real estate lending scandals.
My impression is the world is re-living the 1970s in many aspects: commodity prices, terrorism, small wars, major regulatory efforts, weak and pusillanimous leaders, etc.
Stocks: the 200 DMA on the S&P seems to have provided solid support; the real buyers re-entered their bids. A hard re-test must be expected. Let's see what develops. Perhaps a "W" pattern will evolve, or another bullish continuation pattern. I'm waiting patiently.
PS: Babblevision just said some hedge funds are crowing about 15-20% YTD returns after July. Uh, the Alpha Fund is still up 35% YTD. I'm embarrassed it was +50% a few weeks ago :-(
PPS: Refreshing! P&G said it includes restructuring costs in normal ongoing operations - they don't break it out. They say restructuring is a ongoing practice. Great! I've been making a joke about corporation's breaking out those charges for years. The joke oxymoronic term, "recurring non-recurring items" fits that practice so well. Kudos P&G!!!
P^3S: Babblevision sure it pumping the panic in real estate lending. Golly, imagine requiring income verification! or a down payment! or paying bills on time! how onerous!