Happy Halloween

The first cartoon reflects the Stock Market in October, that was definitely scary. The worst month since 1987.

Now That's Some Serious Inflation

Check out these pictures from Zimbabwe:
Headed to the grocery store.

The 1.243 Billion dinner bill (I hope that tasted good)
Paying the tab.
See more pics here.

The World's Most Expensive Cars

Read here from Forbes to see the World's most expensive cars. It will be interesting to see how these sell with the economic slowdown. Photo: The Saleen S7 ($395,000)

Poor Warren: Buffett is Down $9.6 Billion This Year, Only Has $52.1 Billion Left

Here's an interesting article in todays Wall Street Journal regarding how much today's chief executives have lost in the stock market this year. Here's a sampling: (Photo: Warren Buffet)

1. Warren Buffett (Berhshire Hathaway): Down $9.6 Billion (Value of remaining equity: $52.1 Billion)
2. Larry Ellison (Oracle): Down $6.6 Billion (Value of remaining equity: $19.8 Billion)
3. Steve Ballmer (Microsoft): Down $4.8 Billion (Value of remaining equity: $9.8 Billion)
4. Jeff Bezoz (Amazon.com): Down $4.2 Billion (Value of remaining equity:$5 Billion)

Overall, The top CEO's at 175 of the U.S's biggest companies have lost $42.3 billion dollars from the beginning of the year.

Centrally Planned vs. Free Market Economies

Here you can see the difference between North and South Korea at night. According to the CIA Factbook, South Korea's GDP is $25,000, where North Korea's is $1,700. Here, Professor Mark Perry from the University of Michigan writes how Socialism has failed and why capitalism works.

One of My Favorite Graphs

Check Out The Econ Nerd Featured In the Latest Minnesota Council on Economic Education's Newsletter

Read more here on my trip to Georgia, or click on the article below.

WOW!! Dow Has Biggest Point Day Gain EVER!! UP 936 POINTS!

Dow has biggest point gain ever. 936 POINTS! En Fuego! Read more here.

Gas Below $2.60 in the Twin Cities

THE WORST BEAR MARKETS OF ALL TIME

Here's an excellent interactive chart in the NY Times about the worst bear markets of all time.

THE WORST WEEK EVER!

If you are in the stock market, like 60% of Americans, it was a really, really bad week. Read more from the Wall Street Journal here.

Another Great Depression? Noble Prize Winning Economist Becker Says No

Is this a final "Crisis of Global Capitalism" -- to borrow the title of a book by George Soros written shortly after the Asian financial crisis of 1997-98? The crisis that kills capitalism has been said to happen during every major recession and financial crisis ever since Karl Marx prophesized the collapse of capitalism in the middle of the 19th century. Although I admit to having greatly underestimated the severity of the current crisis, I am confident that sizable world economic growth will resume before very long under a mainly capitalist world economy.

Consider, for example, that in the decade after various predictions of the collapse of global capitalism following the Asian crisis, both world GDP and world trade experienced unprecedented growth thanks to the power of market competition on a global scale. The South Korean economy, for example, was pummeled during that crisis, but has had significant economic growth since. World economic growth will recover once we are over the present severe financial difficulties.

Read more from Noble Prize winning Economist Gary Becker here from Tuesday's Wall Street Journal.

New Definitions of Stock Market Terms

A fun email circulating trading desks, worthwhile as an informal measure of sentiment:

CEO --Chief Embezzlement Officer.

CFO-- Corporate Fraud Officer.

BULL MARKET -- A random market movement causing an investor to mistake himself for a financial genius.

BEAR MARKET -- A 6 to 18 month period when the kids get no allowance, and the wife gets no jewelry.

VALUE INVESTING -- The art of buying low and selling lower.

P/E RATIO -- The percentage of investors wetting their pants as the market keeps crashing.

BROKER -- What my broker has made me.

STANDARD & POOR -- Your life in a nutshell.

STOCK ANALYST -- Idiot who just downgraded your stock.

STOCK SPLIT -- When your ex-wife and her lawyer split your assets equally between themselves.

FINANCIAL PLANNER -- A guy whose phone has been disconnected.

MARKET CORRECTION -- The day after you buy stocks.

CASH FLOW -- The movement your money makes as it disappears down the toilet.

YAHOO -- What you yell after selling it to some poor sucker for $240 per share.

INSTITUTIONAL INVESTOR -- Past year investor who's now locked up in a nuthouse.

PROFIT -- An archaic word no longer in use.

HT: Big Picture

Here's One Way To Get Back At The CEO Who Bankrupted Your Company