- U.S. Home Sales posted its biggest gain since 2003. It's up 5.5 percent.
- In Canada, the S&P/TSX composite index closed at 9294.09, down 37.26 points or 0.4 per cent – making a more impressive bounce of 660 points from its low point for the day.
- Inflation cools, falling prices are predicted. Gasoline, housing, commodities, consumer goods are more afforable than ever.
- Hedge funds are in a big decline.
- Governments are prepared to act on the real economic problems in the world. It is highly likely the G20 will devise a new global regulatory system. This will boost oversight over major banks, credit rating agencies, and hedge funds. It will also curb excessive risk-taking, improve market transparency and regulate global investment flows.
- Green technology is a multi billion dollar business and its continues to grow everyday.
- The downturn is flushing the excess and BS out of the economic system. Economists are crystal ball gazers who make good or bad guesses like the rest of us. The guesses often depend on the mood of the guesser.
- A "national icon", former Federal Reserve Chair Alan Greenspan, the guru of deregulation, was forced to acknowledge to Congress this week that he "made a mistake" trusting financial markets to regulate themselves. He was "shocked" when "free markets break down" triggering a global crisis. He and his team just weren't "smart enough" to see it coming.
- The Barron Blog continues to battle the forces of doom and gloom on Earth. Humanity makes progress during hard times because many of us still believe that we can make the world a better place.