Sadly the partys over and this is just another symptom of that truth.
Stock markets have dived in the last 2 weeks (by a huge 20%+ loss in values), even oil dropping to less than $70/barrel today isn't anything other than a sign that the markets know a major & severe economic contraction is about to hit. It's going to hurt a lot of people I'm sorry to say too.
The 'head-in-the-sand' gang can choose to ignore this or call it baselss speculation but you've got to have been pretty blind & deaf not to get the message that's been coming out loud and clear for the last 2 weeks (and those who watch this stuff have seen this coming for months and some - bearing in mind the unsustainable rise in credit & the idiotic expectation that cheap credit would always be around - even longer).
Maybe you might have noticed that this news was about economics and therefore a comment regarding the current economic situation was appropriate & pertinent to the subject?
You might also have noticed some around here are in total denial about what is going on too.
Reader Comments (Page 1 of 1)
Multi-format-mayhem @ Oct 16th 2008 11:41AM
Sadly the partys over and this is just another symptom of that truth.
Stock markets have dived in the last 2 weeks (by a huge 20%+ loss in values), even oil dropping to less than $70/barrel today isn't anything other than a sign that the markets know a major & severe economic contraction is about to hit.
It's going to hurt a lot of people I'm sorry to say too.
The 'head-in-the-sand' gang can choose to ignore this or call it baselss speculation but you've got to have been pretty blind & deaf not to get the message that's been coming out loud and clear for the last 2 weeks
(and those who watch this stuff have seen this coming for months and some - bearing in mind the unsustainable rise in credit & the idiotic expectation that cheap credit would always be around - even longer).
Hooterman @ Oct 16th 2008 12:04PM
Seriously, why do you choose a tech blog to continuously keep posting economy news in post after post?
WE GET IT!!
Multi-format-mayhem @ Oct 16th 2008 1:09PM
Maybe you might have noticed that this news was about economics and therefore a comment regarding the current economic situation was appropriate & pertinent to the subject?
You might also have noticed some around here are in total denial about what is going on too.
Too advanced for you?