Get Ready for a Rough Ride: World Wide Markets Continue to Tank…
Get ready for an interesting Monday in the world of share prices.
Despite the high hopes attached to the US government’s various bailouts (so far totalling around $1,014,000,000,000, or about $7,546 per taxpayer, as we wrote in a previous article), the world’s markets continue to drop.
Asian markets are uniformly down, and signficantly – here’s a glimpse of Asia’s markets as at 5:50am eastern:
The situation is much the same in Europe. Again, courtesy Yahoo, and also as at 5:50am eastern:
The herd psychology appears to be in full swing, with a wholesale migration out of the markets.
Hold tight for a bumpy ride: the more governments throughout the world bailout failing banks/insurers/etc., the more the taxpayers (read: consumers) get burdened with debt, and the farther away a recovery becomes…