Tyler Gowen, a professor of economics at George Mason University, gives us some historical perspective on global economic interconnectedness since the last several recessions and downturns.
An article about the Volatility Index, or VIX, on the Chicago Board Options Exchange points out the new prominence of this hitherto obscure instrument for gauging market fear. Created in 1993, in response to the turmoil of the late-1980s, it is currently seeing its first major market panic. Now all we need is an economist to tie the VIX to Buffet-style value purchasing formula...
A profile of "Mad Money" host Jim Cramer points out that his viewership in recent weeks has doubled, even as his predictions at key moments this year have ranged from Pollyanna-ish (Bear Stearns is not in trouble; Wachovia is a bargain at $10) to Cassandrine (On Oct. 6, he went on the “Today” show ... and said, “Whatever money you may need for the next five years, please take it out of the stock market. Right now.”). The public's belief in hot money tips apparently has nothing to do with track record, and fear seems tempered by long-term faith.
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