Well folks, as you sit down with your morning cup of coffee and you prepare to delve into the financial headlines you might want to pour a stiff shot of something to sweeten that coffee, that is if you can afford the price of a good bottle of liquor. Here’s a round of the early morning financial news… It’s not pretty:
- Houston Chronicle: Stocks are on track for their worst year since 1937
- NY Times: Nations Weighing Global Approach as Chaos Spreads
- IHT: Iceland is all but officially bankrupt
- Guardian UK: Gordon Brown considers legal action against Iceland
- Nouriel Roubini: The world is at severe risk of a global systemic financial meltdown and a severe global depression
- Paul Krugman: Moment of Truth
- NY Times: Markets in Europe and Asia Plunge
- WaPo: The End Of American Capitalism?
- WaPo: Oil plummets to $82 on global slowdown fears
- LA Times: Black Friday? Markets brace for worse, and cry for help
Someone really needs to figure out how to fix this “Nightmare on Wall Street” that has now ricocheted around the world. But please, please don’t leave it in the hands of Bush Administration, because they’ve royally screwed up everything in the past 8 years.