As the world economies implode the presidential candidates debate who is the angrier man; doesn’t seem to be inspiring very much confidence in the marketplace.
Smaller countries world wide are collapsing – Bulgaria, Estonia, Romania, Turkey – we will find out how interlinked the world really is. Iceland couldn’t have set itself up better for bankruptcy than if they had deliberately planned it.
The GAP sales plunge 25% – expect to see massive layoffs as companies dramatically cut costs starting with labor. Very few businesses can sustain a 25% sales drop without either closing the doors or slashing costs.
AIG burns through the original $85 billion in Fed funds in a week and comes back for $38 billion more; does anyone believe that they won’t need more? We may find out what the US Treasury lending limits are before this is over.
Where is the mighty (mythical?) plunge protection team when you really need them?
A 20% plunge in stock values over 7 days is a crash. These types of declines usually do not stop until one day we are lock limit down and the selling burns itself out.
On the bright side, if you have any spending money left after the Crash of 2008, a vacation to the Caribbean is getting cheaper by the day: A Silver Lining for Vacationers in the Caribbean
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