Trickle down economics has become all fall down. The Dow Jones Industrial Average is near the 8200 mark. The other stock exchanges around the world were down around eight to ten percent overnight. The Dow futures, S&P futures and the Nasdaq futures were all halted in overnight trading when the "circuit breakers" were hit. Trading stopped.

On the opening the Dow bumped against the down-500 pints mark but has traded between down 497 and down 300.

Crude oil futures are down about four dollars to the sixty-three dollar level, even though OPEC decided to cut production by a million and a half barrels.

The UK has confirmed it is in recession for the first time in over 16 years.

US auto makers announced more layoffs and plant closings. Yahoo, Google, and even Microsoft are laying off more people. Toyota announced its worst quarter in years.

Commodity prices are slipping. Gold broke under $700 for a short time.

Volatility reigns.

Trickle down is becoming "all fall down."

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BTW: As Anacoana posted, today is the anniversary of the 1929 stock market crash! Thanks for that, Ana!