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Thursday, August 16, 2007

Cor, Blimey!

Update: Nikkei off 5.42% ending at 15,273.68. The rest of the Asians did relatively well, although losses were close to universal. End update.

Wow. Those Asian indexes are tanking for a second night. Earlier things were looking better, but the Tokyo Blues seem to have everyone down. You know, when you start losing 3% one night, and 2-3% the next night, it really adds up. The Nikkei is now 15,600 and a little. Here's hoping they buck up.

I do not see the situation getting better. Too many problems in commercial debt everywhere, a lot of which was apparently used, one way or another, to play with funky mortgages.

Look at that drop. Looks like a Wile E. Coyote trajectory to me:


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