Bush Recession Looming –updated below–
Danger signs everywhere. Biggest slam since 9/11. Trading curbs were in place today.
Dow plummets 416 points on huge China sell-off.
Shares of Chinese Internet stocks plunged Tuesday amid market declines around
the world, over concerns about economic slowdowns in China and the U.S.Chinese stocks tumbled nearly 9 percent earlier in the day, followed by widespread
losses in U.S. The Shanghai Composite Index saw its largest fall since the
death of Communist Party elder Deng Xiaoping a decade ago.Former Federal Reserve Chairman Alan Greenspan had warned Monday that the
U.S. economy may be headed for a recession…
More available on Bonddad\’s blog.
To update, Bonddad will be on my radio show tomorrow to discuss the Dow plummet and what\’s happening on the money front. We need to start talking about the looming Bush recession today, which Democrats will inherit. It will be too late in \’08.
UPDATE (6:05 p.m.): Tokyo markets opens sharly lower.
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