We've gotten to the point that things are moving so fast that people are unable to assess what it means (at least I'm not, anyway…..) Every day something gigantic happens. I was just reading how, as of last night, Morgan Stanley and Goldman Sachs are no longer investment banks, but simply "banks," thus, according to the article, "ending an era on Wall Street."
It's sort of like explaining my pup's breed to people. "He doesn't have fur, he has hair." And that's true. But it takes a bit to explain what the really means, and even I don't really understand what the difference is.
Looking at the pre-market (a couple of hours before the opening bell), the summary seems to be "oil and gold up big, equities down a little." One can at least conclude that the world has ascertained the U.S. dollar isn't exactly the most splendid place to be investing these days.
