Matt in Texas recommended a piece by Sam Mathid posted over at 321Gold.com as a “must read”: It is Time
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Writing in a recent issue of The Rude Awakening, economic commentator Joel Bowman notes: “From October 10 through October 17, the Dow [Jones Industrial Average (DJIA)] swung a total of 2,225 points at five separate closes. Put another way, that’s an average daily swing, at the close, of 455 points. This is territory of a tumult as yet not encountered in the history of the market. Measured by the volatility index [VIX], otherwise known as Wall Street’s “Fear Gauge,” we saw this week a reading of 81. The record previous to this monumental number, achieved during the year 1998, was a comparatively modest 47.”
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Ed suggested this commentary over at Gold-Eagle: 1927-1933 Chart of Pompous Prognosticators
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Cheryl sent us these economic tidbits: Dutch Gov’t Injects $13 Billion into ING Financial Group — Mortgage Firm Arranged Stealth Campaign — Wall Street Eyes Earnings, Looks For Bottom — Markets Hold Breath As $360 Billion Lehman [Derivative] Swaps Unwind — From Barron’s: It Isn’t Over