This must be, without a doubt, one of the worst weeks we can remember. Each day the news out of Japan goes from bad to more bad. Here in the U.S. we gawk and grimace at the destruction wrought by the earthquake and tsunami.
Staples of developed countries, like power and fresh drinking water, have vanished as poor weather stifles relief efforts. Immense human suffering, radioactive fallout, and worries that the next big one will hit any moment, leave survivors shell shocked. A scenario any worse stretches the imagination.
At this moment economic consequences and money concerns seem shallow and trifling. Yet that is our emphasis around here at the Economic Prism. So we’ll go about our shallow business on your behalf…searching for hints and inklings as to what this means for money and markets – and more importantly, your money.
To get right to it, we offer one word of advice: Panic!
The stock market has been flying headlong into a crackup for months. Last week, along the coast of northeastern Japan, it was delivered an all-time cataclysmic blow. We find prospects for a quick rebound slim at best. Continue reading
