Rout 2008

Okay, this has been noted elsewhere, but the global stock markets ain't looking too good right now. As of this writing, looking at Yahoo! Finance, every major global stock index is taking a serious spanking. Also, for much of the (EST) evening, the Dow futures have been running around the -500 territory.

This was probably the case back in 2000-2001, but I didn't use Yahoo back in the day, so I don't know. (old_guy)When *I* was a kid, regular people didn't have access to live stock market data!! We had to *pay* for it, dad-gummit!! Nowadays, you can walk down any street and pluck stock market data off a tree like it was an *onion*!(/old_guy)

Europe:


Asia:


Furthermore, you've got a lot of "In-the-know" people freaking the Eff out lately:

Pimco’s McCulley Calls for Emergency Rate Cut

The O.C. Register's Jon Lansner shares an email from Pimco's Paul McCulley:

“Sometimes when you are ill, you make an appointment with your doctor; other times, you go straight to the emergency room. Now is an other time. ... Time is of the essence. What needs to be done needs to be done. Now."

Wow. Some people are really scared. (Link: Calculated Risk)

And since "The 'R' Word" is now not only *speakable*, but being openly discussed and the "Great Depression Comparisons" are coming faster and furiouser, I'm a wee bit concerned.

More Happy Talk

From billionaire Mort Zuckerman.


Zuckerman: I don't think it's an exaggeration. It's an understatement. You've heard me say here I think we are facing the worst financial crunch and crisis since the Great Depression. You have the entire banking system now that is virtually frozen and there are not just the sub-prime mortgage thing. (Link: Eschaton (Atrios' Joint)

I guess everybody decided to take their New Year's Resolution seriously this year: ("I will no longer believe the Party-Lines about how the current Global Economy is truly sustainable!")

If you'll excuse me, I'm off to stockpile some guns, gold bullion and canned goods.