The Final Collapse begins?:
It was a rough start to October for financial markets Wednesday, with the Dow Jones industrial average dropping more than 200 points as investors reacted to a round of negative economic news in the U.S. and abroad.
At first stocks were driven lower by word that German manufacturing had slowed last month. The selling accelerated after a separate survey indicated U.S. manufacturing slowed as well.
"A lot of people thought this economic data was going to be robust, so when it was weak, everyone moved to reposition," said Tom di Galoma, head of rates and credit trading at ED&F Man Capital.
Why does anybody ever think that economic data is going to show anything but further decline and depression? Hasn't the past six years sunk in yet?
Investors were also selling stocks following news that the first case of Ebola had been diagnosed in the U.S.
Incipient horrifying pandemics will have that effect on stock prices.
And just think: This doesn't even figure in the fall of Baghdad to the Islamic State and their looming North American offensive.
Hope you have your seat belts on and your money in a mattress.
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