Tomorrow Comes Today, part II.

From the AP:

Asian Stocks Plummet on Credit Fears
Friday August 10, 6:44 am ET

By Carl Freire, Associated Press Writer

Asian Stocks Plummet on Credit Fears; Bank of Japan Injects $8.4 Billion Into Money Markets

TOKYO (AP) -- Asian stocks plunged Friday as fallout spread from global market turmoil set off by concerns about credit weakness in the U.S. The Bank of Japan joined its U.S. and European counterparts in pouring cash into money markets to calm growing jitters.
The Nikkei 225 index dropped 406.51 points, or 2.37 percent, to close at 16,764.09 points on the Tokyo Stock Exchange. The broader Topix index of all shares on the exchange's first section sank 49.88 points, or 2.96 percent, to 1,633.93 points.

The Korea Composite Stock Price Index fell 80.19 points, or 4.2 percent, to 1,828.49, with issues falling across the board, especially financial stocks. The Kospi fell as much as 5 percent in intraday trade.

Asian markets across the region followed the general slump...

Please read the rest of the article.

As I said in my first post, disaster can strike in the blink on an eye.

People are starting to panic. Central banks AROUND THE WORLD are injecting more fiat money into the system to avoid a paralyzing crash.

While most people think that the Subprime loan crisis will filter down into the general economy at large, I take a different view.

I say it is the weakness of the American people and economy that is now filtering into the financial markets. Readers of my blog know what weaknesses I am talking about.

So far, it looks like the world is willing to prop up our system, built on the backs of the poor and unfortunate, the greedy and the naive. But even their patience won't last forever. And just maybe, they will come calling for what we owe them.

A multi trillion dollar bill would really break our bank!

Keep your eyes open, and you had better call your broker.

Kumo.