I've held off on commenting about yesterday's big drop in the DJIA (and on the slide that is happening, at the moment, at least) as I am not sure whether this is another hiccup like that from late February or if this is the real thing - a bear market in equities.
I am still unsure if we have broken the back of this enormous credit bubble that has been building since Greenspan's "emergency rates" helped fuel a debt bubble in mortgage and junk bond markets. If the bond market stays frozen, then we will have a serious issue on our hands.
If nothing else, dust off your Gambler's Analysis, make sure you have cash on hand - that's the funny green federal reserve notes that are so ignored today in favor of VISA checkcards.
Monday next week will tell the tale of the markets. And if the markets go, watch for the anger to build up rapidly and watch how that contributes to the international scene. This could be it, folks, but don't panic just yet.