Reader "Bigbird" spotted this "must read" piece: In Europe, crisis revives old memories. Bigbird's comment: "It looks like Americans aren' t the only ones who practice survivalism."
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Bob McC. mentioned this Piece at Fox News: Uses for $700B Bailout Money Keep Changing. Bob's comment: "The clueless Congress just starting to discover that banksters lied! And they wondered why 3/4ths of American constituents opposed the plan!"
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Reader Currie M. sent us this link: The Baltic Dry Index (BDI) Plummeting. Currie's comments: "I consider this an accurate representation of economic conditions, in real time. It seems to signal what other indicators take much longer to recognize. This BDI chart signals to me that the the world economy is grinding to a halt. The globalization bubble is deflating at a horrific pace. A ninety percent drop! Not only are there grave economic considerations to having world trade crash, but the recent rumors of banks not wanting to accept letters of credit from other previously trusted international bank partners is strengthened. Who wants to ship if they will not get paid? The entire world (not just the US or European) banking/financial system is tottering."
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From our ever-reliable Economic Editor, Cheryl N. comes this news and commentary: The 1929 & 2007 Bear Market Race To The Bottom -- Nouriel Roubini: I fear the worst is yet to come -- US Joins UK On "Brink" Of Recession -- Gold Stocks Were Financial Saviors In The 1930s -- October: Monster Market Mash
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Susan Z. flagged this article by our friend Michael Panzner: 'When the U.S. Sneezes, the Rest of the World...' Yikes! This is starting to sound much more like an incipient depression rather than a recession.
