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Get Ready for a Rough Ride: World Wide Markets Continue to Tank…

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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:

50am eastern, Monday Oct. 6, 2008

Asian markets as at 5:50am eastern, Monday Oct. 6, 2008

The situation is much the same in Europe. Again, courtesy Yahoo, and also as at 5:50am eastern:

50am eastern, Monday October 6, 2008

European markets follow suit. Also as of 5:50am eastern, Monday Oct 6, 2008

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…

Written by westcoastsuccess

October 6, 2008 at 3:16 am