Uh, Oh... Hold On To Your Roller Coasting Portfolios !!! - Asian Markets Red !!!

Link: http://finance.yahoo.com/intlindices?e=asia

Another Black Monday today???

:shrug:

the 20th anniversary of Black Monday, the Dow dropped $366.94. Further drops are possible. The US economy has the potential of falling back into a recession if things go to hell in a hand basket. Nothing, however, is certain in this regard. Helicopter Ben approved a half of a percent drop in the discount rate about a month ago to prop up the Stock Market and give the appearance that the good times continue to roll. This action however, showed the world that the US doesn't give a hoot about inflation or the loss of value in the dollar.

Bottom line in my opinion, is that the world economy and their currencies are in better shape then what we have in the US. This global economy may be strong enough to keep us from falling too far back-wards.

Our Presidents and Congresses over the past 50 years have totally failed to protect us from our current self induced financial crisis. Debt, both personal and governmental has been promoted as the avenue to good times. Increases in fiat money to pay government operations has been nothing but inflationary. To correct the current situation and the mental attitude that we deserve the good times it may take a 1930's style correction.

and jobs - near zero growth continues as it has for all of Bush's terms in office as the Cost of living is mis-stated so as to pretend we have some growth, and as move of the national wealth and income is moved from the middle class to the very rich and corporate.

All job "growth" will be service jobs as we try to make a buck serving each other, watching our experience and college get dumped on via Gates speeches on how we need a more educated America, as Gates and company hire from India, or establish in India as with the Metlife, their technical personnel sourcing.

Dumping on unions will continue via the media selling that unions are so "disruptive" and "you lose money on strikes you don't win" and unions are for "wimps that can't be real men and face the world by themselves" - so the corporations will be unopposed as they screw us out of every dime.

freaks out, but when the US market drops 1%+ virtual crickets are heard in the MSM.

when America sneezes the world catches cold