Property Grunt

Wednesday, August 29, 2007

Up and down

Like Lindsay Lohan's social life, the stock market is experiencing volatility on an epic scale, much to the joy to all the day traders of the world. The Fed will jump in when things go FUBAR. But it appears their definition of FUBAR might be a little different than ours.

And it appears all of this subprime contagion is starting to collapse the deflector shields known as the Manhattan market. Where it goes from here, who knows.

My recommendation is this. Get your beach towels, break out the beer and Jack Daniels and take it easy this labor day weekend. Relax, kick back. Don't worry you won't miss anything. The chaos will still be here when you return.