Nothing but gray skies, everywhere I look. Even the sky over Wall Street is gray today.
We've got the
cut interest rates
down to practically nothing, which is bad news for everyone holding onto cash amid all this market turmoil. Gold and silver prices have been sinking, so no help there.
$2.3 billion loss
for the fourth quarter, its first since going public in 1999. Even
is struggling to sell its Mac computers, with
is preparing to cut output to drive oil prices back up because some of the members of the cartel can't profitably produce crude at prices below $70. The price of oil rose above $45 a barrel in anticipation of a cut.
Oh, and then there's all this negativity from the
which may well be overdone. After all, what's $50 billion amid a $700 billion banking bailout?
About the only good news is coming out of Iraq, ironically. It seems
won a $3 billion order to supplypower-generation equipment there. At least that's something.
Maybe the bulls will see some buying opportunities and offer up a silver lining? That's about all we can hope for at the moment.