Pride goeth before the fall

Oregon Pundit does a great job responding to Thomas Friedman's latest column.

When other countries are your bankers, how strong are we?

An old mentor used to say "He who holds the gold makes the rules."

Joys of a Global Market

"It's a kind of a panic among individual investors," said Cho Hong Rae, head of research at Korea Investment & Securities in Seoul, adding that domestic retail investors had up until Thursday generally been buying shares as they declined."

Investors the world over are running to the bathroom. Everyone was gleefully stunned when the market pierced 13K. This is the time when the phone lines are heating up. Financial planners are either holding the hands of their clients during this period, calmly advising " this is a good time to buy, remember you are in it for the long haul." Or worse, they are no where to be found.

Is this a correction or the beginning of a nightmare? Time will tell.