[Cid_Yama]

Dow futures down 595.

Don't know if oil demand will drop. If we lose 50% worldwide over the next week, there maybe nowhere to go but up from there on out.

On Oil Drum all night they have been talking about getting money out of their bank accounts, several hitting the ATMs overnight to grab what they could. I paid everything I could electronically overnight just to get it in before morning, and tranferred funds everywhere I could so all my money isn't in one basket.

India's Finance Minister P Chidambaram has urged Indian investors to "remain calm" and advised them to "stay invested".

Glad I've been out of the Markets for months now. Does not sound good and the CNBC message all night has been the same "stay invested". Right. If I were in I'ld be selling everything I got.

http://www.iii.co.uk/news/?type=afxnews ... on=article

<b>Gulf leads biggest Arab stock slide since '06 crash</b>

"It looks like the panic is continuing and I don't know when it's going to stop," Hashem Ghoneim, the head of Cairo brokerage El Nour Securities.

Gulf Arab shares plunged on Tuesday as investors spooked by a global equity rout drove the biggest declines in Arab benchmarks since a stock market crash in early 2006.

Dubai's benchmark tumbled more than 9 percent to a three-month low, leading a retreat in the Gulf, the world's biggest oil exporting region, which until last week had appeared to be immune to bearish sentiment sweeping global markets.

http://sg.news.yahoo.com/rtrs/20080122/ ... 18940.html

[ChefBoyardee]

Unbridled economic growth is not without its consequences. Perhaps it may be a little premature but the star economies of India and China are due for a 'humbling'.

Some of my students were going back to India with only 200 hours of pilot training and would land airline jobs flying Boeing 737s. It was unreal and unheard of. Times were awesome and the future had unlimited potential.

PRIDE IS BEFORE A CRASH

[joeltrout]

$this->bbcode_second_pass_quote('ChefBoyardee', 'S')ome of my students were going back to India with only 200 hours of pilot training and would land airline jobs flying Boeing 737s. It was unreal and unheard of.

[Cid_Yama]

Those people at CNBC should be ashamed of themselves. They were just trying to talk people into investing in the bond insurers while carefully avoiding the fact that these guys are insuring CDOs, SIVs and other Mortgage crap.

[shortonoil]

Cid_Yama said:

$this->bbcode_second_pass_quote('', 'T')hose people at CNBC should be ashamed of themselves.