Cheery Friday thoughts

After falling 3% yesterday, followed by the Nikkei and the European indices, the Dow dropped another 1.5% within minutes of opening today.

Don't say nobody warned us: we've just started a serious economic correction, which, if history is any guide, will turn seriously ugly in October. I think once the President (529 days, 3 hours) said we had sound economic fundamentals, he might as well have written "MENE MENE TEKEL PARSIM" on the podium.

In happier news, the Cubs pulled within a half-game of the Brewers last night.