World Wide Depression in the Works!

Anyone who believes a Depression is not on its way is.....dreaming

Global Panic Spreads

The largest debt bubble in the history of mankind is on the verge of deflating and collapsing as world leaders and central bankers fly around the globe to one crisis meeting after another. No sooner is one panic quelled or some hasty band-aid fix slapped into place to stop a financial collapse, then another breaks out somewhere else. The bad news just keeps on coming;

ICELAND...Bankrupt...Oct.2008 nationalises banks; turns to International Monetary Fund for help.
BALTIC DRY INDEX...Down 90%... a leading indicator of shipping rates & global trade.
JAPAN (NIKKEI)...Down 81%... from all time high of 38,957 on December 29th 1989.
RUSSIA (RTS & MICEX)...Down 77%... exchanges shut down several days to stem panic.
CHINA (SSE)...Down 72%... from all time high of 6,029 0n October 16th 2007.
KOREA (KSE)...Down 68%... from high in May 2007.
ARGENTINA (MERVAL)...Down 64%... moves to take over $30 billion in private pension funds.
INDIA (BSE)...Down 60%... since January 2008.
TURKEY (ISE)...Down 59%... from high in November 2007.
HONG KONG (HANG SENG)...Down 55%... past 12 months.
ITALY...Down 53%... past 12 months.
BRAZIL (BOVESPA)...Down 52%... from May 2008 peak. Trading suspended 5 times in 3 weeks.
FRANCE (CAC)...Down 50%... from June 2007.
GERMANY (DAX)...Down 50%... year to date.
GREAT BRITAIN (FTSE)...Down 47%...from all time high of 6,930; now “officially” in recession.
MEXICO (IPC)...Down 47%...since June this year.
AUSTRALIA (ASX)...Down 45%... from all time high of 6,829 on November 1st 2007.
U.S.A (DJIA)... Down 46%... to 8154 on Oct.10th 2008 from 14,198 on Oct.11th 2007. Interesting that the American market (where this crisis all began) is down less than so many others...but not surprising really with the U.S. Fed prepared to monetise as much debt as necessary to avert a Financial Armageddon.
OIL...Down 54%... after peaking at $139 in June 2008. OPEC Nations hastily cut supply.
COPPER...Down 50% from July 2008 high.
NICKEL...Down 62% year to date.
GOLD...Down 26% +... from high of $1,010 on March 17th 2008.

The statistics speak for themselves. The world is undoubtedly experiencing what Alan “I made a mistake” Greenspan described as a “once in a century event”... thanks a lot for that Mr. Greenspan.