I am a little surprised no one has mentioned this. But, Is Pyro-terrorism bullish or bearish? Or, maybe, subprime holders have taken a different approach to servicing the debt? What a fk'd up way to throw the economy into a recession. It will be interesting to see how this story unfolds. And there are many in Washington who are calling for the "need" of a recession, so, it makes me wonder. Also, what damage will this do to credit markets; assuming the Fed "DOES NOT" cut, or cut enough. Of course, the story could be spun many different ways for the market to drop or rise. Although, since the recent highs, declines have been on stronger volume than the rallies. Suggesting that the shorts have been more aggressive than the longs. With housing by all accounts already in recession, and these fires, what's next to fall? There's a lot of fear out there.
Seems like a logical play. I just wonder how this will all play out in the market. If the markets can get by this hurdle, the Fed, firestorms etc. A Nov-Dec. rally would seem in play.
Interesting idea. Terrorist attack by arson. Easy. Convenient. Cheap. I recall reading about billions of dollars in damage and 500,000 people evacuated. Does evacuated mean homeless? Then there is the idea that one way to eliminate the housing excess is to burn houses.