Market Turmoil Felt in Central Europe

It took years for Andrzej Solyga to muster the courage to invest in mutual funds.

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On Monday the Dow industrial dropped 290 points . The media targeted credit worries for the possible end of a Bull rally that had returned over 24% to the indicators in less than 6 weeks.

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Your retirement savings are swirling through the drain of the market meltdown, your home isn't worth what a Chihuahua's doghouse was a year ago, and the United States may be facing the most severe recession since the Great Depression.

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The stock market continues the worst downward slide since the 1929 depression. The uncertainty of liquidity is dragging down every major stock exchange of the world. Fear is captivating business and industry like nobody could have ever imagined.

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Pundits have egg on their faces all over the nation.

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Devotees of the yellow metal -- which they believe protects their wealth against everything from inflation to Armageddon -- have watched in horror as gold has slumped 19% in a month to $790 an ounce.

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Vanguard Group Inc., Fidelity Investments and Capital Group Cos. are finding stock bargains in India, Taiwan and Japan that would make Benjamin Graham proud.

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THEY rarely ring a bell at the bottom of bear markets. Investors who thought they had heard a tinkling sound when Bear Stearns, a failing American investment bank, was bundled into JPMorgan Chase in March have been disappointed.

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Investing with the Television Talking Heads

Friday, June 27, 2008 There is probably no worse investment decision you can make then one based on investment advice of the people you hear on CNBC or any of the other television networks.

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After a steep fall on Wall Street, Australian investors wiped about $29 billion from the value of the nation's biggest companies, pushing the main index below 5000 points for the first time since September 2006.

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Bloomberg reports: U.S. stocks tumbled, sending the Dow Jones Industrial Average into a bear market, after oil rose to a record and steelmakers and coal producers retreated on concern the economic slump will worsen.

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Bloomberg reports: U.S. stocks fell, pushing the Dow Jones Industrial Average to the brink of a bear market, on concern subprime-related writedowns will worsen and record oil prices will reduce profits at consumer companies.

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Optimism for a dollar rebound that pervaded the currency market at the start of the year is fading ...say the currency may slump to $1.65 per euro by October.

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The overall picture speaks of a great deal more bad news ahead, with companies like Ambac, MBIA, Fannie Mae, Freddie Mac, Ford and GM and possibly several large banks unlikely to survive in present form.

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The dollar fell to a record low against a basket of currencies on Monday, dragging Asian stock markets down and compounding worries about a likely U.S. recession and more write-downs in the global financial sector.

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This is a solid move, but will it be enough for a sustained rally? It will indeed cause Wall street to rise, but for how long? If this proves to be a short term boost rather than a long term solution, we are heading for serious trouble indeed.

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Asia Stocks Fall, Extending Global Slump as Bear Market Spreads Asian stocks tumbled, extending a global slump that has wiped more than $5 trillion from stock markets this year, on concern world economic growth is faltering. *** Global Slump

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Satyajit Das can lay fair claim to being the world's leading expert on credit derivatives and indeed most financial matters: if he say's we're in for a bear market, you better believe it.

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No one was paying millions for skull art [in July 2006].

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Columnist Pete Kendall observes that energy drinks and bull markets are linked, not in a cause-effect fashion but rather as two aspects of an era.

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