The market slides again

The market is sliding again today [27 June 2008]. A barrel of oil is now quoted at us$142, and consumerism which has been fueling the US economy is slowing down, and what's more the easy money has dried up. The subprime Ponzi scheme meltdown is delievering a one two punch to the big bracket and regional banks, but the jabs are not strong enough to floor them yet. Bank stocks are plunging and even the mighty Goldman Sachs' earnings will be much less. Oil and commodity futures are the new casino gamble, which is tied to the weak US$. Which no one is talking about other than pointing the finger of blame at speculators who are taking advantage of a US market which is intent in not reforming itself, nor is the US government of Herr Bush planning to do much about the current crisis which everyone knows is a recession but the blockheads at the Fed and the Treasury and in the White House. So muddling along till the tidal wave drowns us all or dance ye around the mulberry Bush whilst the party lasts. Which ain't for long!