European, Asian Markets Plunge. Recession fears worldwide!

European, Asian Markets Plunge as Recession Fears Spread Worldwide

As stock indexes plunge across Europe and Asia, Britain unveiled plans today to inject up to 50 billion pounds—close to $90 billion—into its biggest retail banks. Recent efforts to bolster world credit markets have failed to stem fears that the spreading financial crisis could lead to a global recession. We go to Rome to speak to economist Loretta Napoleoni, author of Rogue Economics: Capitalism’s New Reality. [includes rush transcript]

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[ogapadoga]

this is the beginning of the end

[roach1971]

The very wealthy are not suffering...not at all. The super rich are buying up the bargains which can be had right now.

[Grin32]

its just the old game o musical chairs that the market plays every so often.. happened in 1907 and in 1929. some richy folks will obviously get richer at the expense of the public and those they leave to bankruptcy. its not the end of capitalism as some say. thats just sensationalism to get people scared. but it is definitely a symptom of its ultimate and unavoidable demise as a viable system somewhere in the future.

[roach1971]

The very wealthy are not suffering...not at all. The super rich are buying up the bargains which can be had right now.

[Grin32]

it is nice to see the rich suffering for a change.

[toesandumbrellas]

haha