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Protectionism in China - Something to Worry About [View article]
China is one of top three exporting countries in the world and enjoys the highest current account surplus, making it particularly vulnerable to trade wars.
This is all the more true when you appreciate that China must import much of what it does to make it mercantilist, low wage economy function as it does.
Preview from Europe: Fear Trumps Hope as Dow Falls Below 8,000 [View article]
The comment by Roubini, State Street earnings, a report the BAC would need an additional $80 billion of capital and the international stories all contributed to the massive sell-off.
Credit will not thaw until the global credit crisis is resoved and it is my belief the host of measures already taken will prove insufficient. Sorry for being such a pessimist.