Tuesday, October 07, 2008
Yesterday was an extraordinary day in the market with the DOW plunging 800 points before closing just down 357 or so. Yeah, a 300+ fall in the DOW and I use 'just'. A reminder that everything is relative--Albert Einstein reminded us of the power of that.
I've mentioned here in my amateur musings. In fact, I did a little search of my blog to see when I started to talk about it. I see that I was chatting about it for a while. De-leveraging and de-flation go hand in hand. It's not complicated. How far for how long is anyone's guess. But if we've been building this up for so long (more than 20 years), then... Well, you can connect the dots.
Minyanville had a interesting article which you can access HERE.