Stock market financial meltdown continues on the worlds financial markets.
Yesterday was, bad, today does not look much better. We are all apparently worried by a recession in the United States of America, where markets are closed. George Bush has announced a series of measures to boost markets, which other market watchers have not been impressed by.
What we are seeing is headless chicken syndrome. The same people who bought into low yielding stocks are running away from them in the same manner.
That said there are underlying problems in both the US and UK economies, mostly due to house price inflation not being controlled. Where there is a silly boom there will always be a bust.
The BBC has this.
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