Monday, January 21, 2008
Nikkei Loses 200 at Opening in Tokyo
Will tomorrow be "Black Tuesday" on Wall Street? We'll know in just a few hours. An early indicator is not good. The Tokyo Stock Exchange, open now, dropped 200 points in a heart beat. It seems that the international meltdown, driven by the economic policies and runaway spending of George Bush and the Republican Party, has caused the Bank of Japan to reduce estimates of national growth. Other central banks in other developed nations will find themselves in similar straits in short order. We're in uncharted territory here. Like our 401k plans haven't tanked enough already!