The Sky Is Falling!

The Fed slashing rates should be no surprise to anyone.

Look at our economic state of affairs:

1) Any national surpluses have been eaten up by the Iraq/Afghanistan wars and massive private capital investments into unsustainable businesses.

2) Shifts in the economy have directed most productive human energy into intangible goods - exchanges of information and consumer services.

3) "Developing" countries throughout the world are squandering their natural resources and traditional economies (where there is a balance of necessities - food, energy - and technologically enabling goods) for absorption into a volatile global economy that can not sustain investment into communication & transportation infrastructures.

Before the opening of the NYSE today, the Dow Jones was down about 500 points from drops in markets all over the world. They had to do something.

In a frighteningly parallel universe, a similar disillusionment.