Typhoons and the subprime market crash
What does a Hong Kong typhoon have to do with the US subprime debacle, crashing Asian equity markets and the price of gold?
When typhoon Pabuk suddenly hit Hong Kong last Friday, a wave of near-panic seemed to cross the city. The typhoon 'number 8' flag was hoisted, and for the next 30 minutes the telephone lines were jammed by six million people simultaneously trying to make calls to find out about their loved ones, or find out which bar to rendezvous in.
No one knew how bad the typhoon would be they just knew they had to get home and prepare. The...
To continue reading, please login or register for free