The Dow closes below 6800

The big fire sale?

Why? Investment remains muted while firms reduce their dividend payments, GDP has yet to bottom out and the economy continues to hemorrhage jobs, even as, unsurprisingly, consumers are saving more and consuming less. Bailouts continue amidst the bust, as one would expect. So, one can also expect the news to be depressing for some time to come (see this, this, this, this, this and this).

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