I was up into the wee hours of the morning at my day job, posting stories about the impending bankruptcy of Lehman Brothers, the hastily arranged merger between Merrill Lynch and Bank of America, and the “restructuring” of AIG.
I had planned to sleep until noon, but my curiosity got the better of me and I wanted to see how the markets would open at 9:30 a.m.
I’m awake, but too dazed to analyze why this is happening now. The financial turmoil seems to be coinciding with today’s full Harvest Moon at 5:13 a.m. Of course, the eclipse back in August squaring the New York Stock Exchange natal Sun was my signal to move to cash. Still, I didn’t think things were going to be quite as crazy as this.
Fortunately, Raging Universe has his wits about him. Here’s what he has to say about the Full Moon at 22 degrees of Pisces conjunct Uranus and the chaotic financial markets.
It’s interesting that Hurricane Ike hit Houston as the Sun in Virgo opposed Uranus at 20 degrees of Pisces. Now, financial commenters are calling the combination of last night’s financial events “Wall Street’s Perfect Storm.” Uranus in Pisces: hurricanes in Houston and on Wall Street.
If you’re looking for more intelligence on the Wall Street meltdown, check out my favorite finance maven, Barry Ritholtz, who blogs at The Big Picture.
The economist of the hour is Nouriel Roubini, who was on Bloomberg TV last night, predicting “disaster” for the U.S. financial system that “is going to get worse.” Why? Because we’re drowning in debt. (If you click on this TV interview with Roubini, be patient.)
I’ve blogged about Roubini, whom the press has dubbed “Dr. Doom,” which was also the moniker of famed economist Henry Kaufman the last time Saturn was in Virgo.
I hope that today’s Dr. Doom is being quite careful about what he says, because in this video here, he’s talking about the possibility of a run on U.S. banks. He’s encouraging Congress to immediately recapitalize the Federal Deposit Insurance Corp., which insures deposits of up to $100,000. The danger of even saying something like this in today’s environment is that it will trigger a panic.