Well this is the day that my sources pointed out as the beginning of a very sharp decline in the world economy…so far it looks like they were on the money (pun intended, but not very good.)
Bank of England Deputy Governor Charles Bean said Britain’s economy was still in the early days of weakness.
“This is a once in a lifetime crisis, and possibly the largest financial crisis of its kind in human history,” Bean told the Scarborough Evening News.
Russia has shut down their stock markets, bad news on earnings and unemployment etc, and so far the American markets are diving too. My virtual stocks are nearly a grand in the red. Of course, all stocks are virtual when the government is just printing money with nothing to back it up. I’m guessing that the DJIA will decline to the 4000 range before we hit the bottom.
As a random aside…in the past several days I’ve met a few African-Americans (why can’t I just say black people? wait, I’ll say black-Americans…is that okay?) who are not fans of Obama. Mostly these are military folks. The interesting thing is that they don’t seem willing to vote for McCain based on the perception that his running mate is a closet racist. Instead, they are mostly opting to vote for Nader. It will be interesting to see if Ralph exceeds expectations in the upcoming election.