Tuesday in Japan - second day of largest decline in 17 years:
Tuesday in the U S A?
Brace yourself, the New York Stock Exchange will drop like a rock. A lot of people will lose a lot of money today. Asian markets have already lost five million dollars this year. Wall Street, already in decline, will see its largest one day loss in six years today. Financial news will dominate by tonight.
As the Asian market closed, one manager there put it this way.
``We're in panic territory,'' said Patrick Chang, who helps manage $4.5 billion at CIMB-Principal Asset Management Bhd. in Kuala Lumpur. ``The markets are pricing in a recession. We won't see a bottom for the next one to two weeks.''
What does it mean for the 2008 Presidential election?
1. Barring a major security scare on U S soil, 'the war' and 'security' will be eclipsed by the economy as the major election issue.
2. John McCain's main issue - as well as that of 9-11 Rudy and "lose with honor" Huckabee - is now off the table.
3. The Democrats have done well when people are worried about the economy - and they are about to be very worried.
4. Large numbers of people will wake up and realize that any solution that can be stated as a sound-bite is not a solution.
5. Only one candidate has predicted all of this and only one candidate knows how to address it in any meaningful way. That candidate is the author of seven books on economics - his name is Ron Paul. Look for Ron Paul's message to gain traction.
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