Down and down we go...

So, the market is continuing it's relentless dive into the abyss, even after a slight snap back earlier this week. Markets are closing this week at new delicious lows.

In other news, the old media is finally acknowledging that, yes, the entire world is going down with the captain of the ship.

There's a concerning trend in articles like those linked above, and most others like it.

"Stocks slump as investors abandon recovery attempt..."
"Worst retail sales in history..."
"Consumers showed fresh signs of distress..."

It's almost like they're saying that it's all our fault...

There's a reason no-one is investing: it's not worth it. There's a reason consumers aren't buying as much stuff as they used too: it's all over priced, and people can't afford it. I'd tell you whose fault I think it is, but that would give the game away...

This weekend also sees the G20 summit in Washington, where world leaders are going to gather to supposedly talk about the "new economic world order." I have a prediction about the G20 summit: all of these world leaders are going to get together and talk about how much they haven't done, and how much more they could do. They're going to decide to increase spending (like they need a summit to decide these things. *cough $700b cough*). They're going to decide to do the very things that got us into the situation where in now. You can't wake a dead horse by beating it. That's my prediction.

These people control the world, by the way.

STAY CALM!!! ALL IS WELL!!!!

Experts agree: everything's fine!!

Paulson says US bail-out working
- BBC News, 12/11/08

"The $700bn (£494bn) US bail-out package has already 'clearly helped stabilise' the financial system, US Treasury Secretary Henry Paulson has said.

But he added that there were still many challenges ahead and market turbulence was likely to continue for some time."

Challenges and market turbulence, like:

US stocks close nearly 5pc lower
- News.com.au, 13/11/08

"US stocks plunged overnight as global markets were rattled by further signs of recession in Europe and a shift in the US financial bailout strategy.

The Dow Jones Industrial Average plummeted 411.30 points (4.73 per cent) to finish at 8282.66 and the Nasdaq dropped 81.69 points (5.17 per cent) to 1499.21.

The broad Standard & Poor's 500 index slid 46.65 points (5.19 per cent) to 852.30.

Since Monday, the Dow has lost 7.4 per cent."

I'm just gonna go out on a limb here and say that maybe this bailout isn't helping. And maybe it'll make things worse. Consider it a prediction.


And an Australian addendum:

Australian market plunges to 4-year low
- ABC News, 13/11/2008

In a volatile day for Australian stocks, the local market has finished at a four-year low after it was unable to recover from a plunge of almost 5 per cent in the first hour of trade.

The All Ordinaries Index has finished the day 5.5 per cent lower at 3,672 points, and the ASX200 dropped 230 points, to 3,697.

The steep falls followed a 5 per cent dip on Wall Street overnight, after US Treasury secretary Henry Paulson decided to use the rest of the Government's bailout package on shoring up banks, rather than bad mortgages.

The last line is odd: it's like the old media thinks the bailout will work if only they could do the right thing with the money they printed. Halfway there, Old Media. Halfway to realising that the best thing Mr. Paulson could do with that money is burn it.

Don't Worry, Be Happy!

It's all so obvious now! The reason the economy isn't improving is because we're all hopeless pessimists, and all we need to do is have a little faith! Why didn't I think of that?!

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Australia can smile away the recession, says Treasury boss Ken Henry
- News.com.au, November 12, 2008

"THE threat of recession could disappear if we all put a smile on our face, the Government's top money man said today.

After two months of persistent bad economic news, Treasury secretary Ken Henry said the worst could be avoided if Australians simply cheered up.

'Fundamentally what is driving weaker economic outcomes globally at the moment is fractured confidence,' Dr Henry said. "