Now it's time for some pessimism. Things are looking really bad in the global economy today. Really bad. Trading on the S & P 500 futures on the Chicago Board of Trade was halted due to losses. In Asia, Market losses were about 10%. Last I saw, market losses in Europe were about 9%. Alan Greenspan said recently that his faith in the ability of banks and markets to manage risk was misguided -- quite an admission! The NYSE is promising to remain open today, which by itself is an unnerving thing to have to say.
In other news, global warming is proceeding quite nicely. A recent report noted that the "rate of ice melt this August was 33,000 square miles per day, the fastest that anyone has ever recorded for the month." Things are melting faster than anyone predicted or imagined.
Yikes! Time for some REM:
1 comment:
At least there's REM.
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