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The Bullshittilion Bale out package meant to stop the markets entering into free fall - well that really worked.

I should do a post on what is wrong with the "free" market and how the evolution of the "markets" coupled with the obscene mushrooming of the derivative markets reached the point that the convention and processes fund managers/investors/financial institutions used in making investment decisions basically became irrelevant and flawed - the rub here is that these conventions and processes only proved relevant to what had gone before and not what was coming up.

When you consider that sub prime mortgages where used to fuel/inflate/drive the American Economy (which is the global big cog) at a time where the overriding view was that there was no longer any risk as all risk could be dealt with by derivative instruments; it is no small wonder that the insanity and recklessness that has been prevalent in "the markets" and the manner with which the "economy" was managed has lead to a market melt down on a global scale.

I wonder whether the extent of the problem will reach the point where people in the western democracies that donapos;t have a strong domestic economy will begin to starve to death.

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