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Monday, October 29, 2012

Panic Sandy and Humans

Posted by Charles Mudede on Mon, Oct 29, 2012 at 3:05 PM

The market will be closed for a second day. Politics is at a standstill. Nature makes its return...

As many as 300,000 customers in seven states are without power, CNN reported.

The Hudson and East rivers in New York City have begun overflowing their banks.

Officials warned that flooding in lower Manhattan could inundate the city's underground electric and communications lines and subway system.

Trading on the New York Stock Exchange and Nasdaq will stay suspended for a second day on Tuesday. The United Nations headquarters in New York has also been closed.

We can do nothing but wait—wait for it to end, wait for something normal to return, wait for the market's profit-reaping machines to roar again...

Screen_shot_2012-10-29_at_2.54.22_PM.png

...and politics to go through another bout of Romnesia:

Screen_shot_2012-10-29_at_2.58.57_PM.png

By the way, the world will not end like this...

NASA

As the UW professor and science writer Peter Ward pointed out to me once, the day there is no wind at all is the first day of the end.

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Comments (3) RSS

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Also, the statement that the stock exchanges are closed is incorrect. Computer trading on NASDAQ is occurring. Originally NASDAQ used to be a distributed system, and NYSE is working in certain computerized non-localized respects.

A lot of finance jobs are going bye bye, due to UBS and other firms Mitt sheltered cash in getting large amounts of scrutiny by foreign banking regulators for not paying taxes. This is a good thing.

Posted by Will in Seattle

on October 29, 2012 at 3:16 PM

#1

It would be ridiculous that international finance would be stopped because one half of one coast of one country is having the equivalent of a "snow day".

Posted by Supreme Ruler Of The Universe

on October 29, 2012 at 3:20 PM

Most trades even in NYSE are computer trades and I do believe a lot of systems got upgraded redundancy after 9/11 although this storm is big enough that could cause problems for all the redundant systems.

Posted by david on October 29, 2012 at 5:37 PM