Market continues to Fall.... And more bad news... Updated.

Update:

Buffet: U.S. economy in shambles (http://www.bloomberg.com/apps/news?pid=20601213&sid=ai9DTyPcka50&refer=home).

Dow lowest since 1997 (http://www.bloomberg.com/apps/news?pid=20601087&sid=aHP4RwNPNT2k&refer=home). The Dow is now below 6800... The U.S. and world economy continues to fall apart despite massive bailouts by the U.S. and various other governments. For some reason gold also fell today. Can't quite explain that one... Some have speculated that investors are in dire need of cash and are liquidating precious metals... CNBC predicts securities*may* end the year with gains (http://www.cnbc.com/id/29429549).

AIG (our newest asset as taxpayers--I think "we" own a 80% share) continued to plummet prompting $30 billion in new bailout money.

Crude oil fell to $4.00 today (http://www.bloomberg.com/apps/news?pid=20601087&sid=a1M0.nSTXC6M&refer=home).

Consumer switching to chicken (from beef and pork) in a quest for cheaper protein (http://www.bloomberg.com/apps/news?pid=20601109&sid=aWKabkAcH6M0&refer=home).


I'm pretty busy at work right now--but wanted a place holder to comment later today on the market... The Dow has fallen below 7k... I'll have more to say later in the day.

Freddie Mac CEO quits (http://www.cnbc.com/id/29463982).

AIG continues to crash (http://uk.reuters.com/article/marketsNewsUS/idUKN0240734920090302).

China warns of unemployment risk--biggest risk is unemployment says Chinese gov official (http://news.bbc.co.uk/2/hi/business/7915372.stm).

Buy gold (http://www.smartmoney.com/Investing/Economy/Nothing-Shines-Like-Gold/)?