October 2008

It's about 7:45 AM ET as I write this and the overseas stock markets are getting hammered. I can't say I don't fear what is going to happen today because I do. We are witnessing a meltdown of unimaginable proportions that is not just…

The last time faced a recession and a Bear Market of such viciousness was 35 years ago in the recession of 1973-1975. In the UK, it was truly horrific as inflation shot up to 25% and stocks dropped more than 90% in inflation-adjusted terms.…

Did you see that coming? What a train wreck of an end we had yesterday in the States. Things started off well enough with gains in Asian trading. The Europeans were a bit jittier, but it was within the bounds of reason. New York? That…

This does not bode well.Japan's Nikkei stock average slid more than 8% on Friday after U.S. stocks plummeted on fears about a global recession, while a firm yen added to the pain.In early trade, the benchmark Nikkei had shed 673.72 points…

No not the markets, the song. We need a bit of a break from this calamity of a global financial system. So here it is via Tom Petty & The Heartbreakers, one of my favorite groups. The title is apropos, and the music is a bit…

If the huge sell-off on Wall Street, the gaping up of LIBOR, the halt of credit liquidity everywhere, the nationalisation of financial institutions and the enormous TED spread are not enough to convince you that we are headed for a…

Honestly, I expected today to be up. In fact, it was a good day for much of the day. Overnight, the Hang Seng and the Straits Times were up over 3% in Asia. The European markets lost only a few percent. None of this prepared us for the…

The yield on U.S. Treasury securities shot violently upward for the third day as the U.S. Government prepares to raise hundreds of billions of dollars in defense of its banking system. Up until a few days ago, treasury yields sank as…

The YouTube video below is gaining a wide audience on the Internet. It shows an Ohio blogger interviewing some McCain-Palin supporters after a speech and rally by Sarah Palin in that state earlier this week.The blogger's question to…

After rising from the mid 300s in May and June to almost 500,000 the past few weeks, we have finally seen a break in the claims for unemployment in the United States. This past week, 378,000 people filed initial unemployment claim, down…