Still, it could have been worse. The Dow for example was only down 363.35 points (after counting final trades) having recovered from a loss of around 800 points at one point. A Canadian trader said it best, “Today is watching the sky fall.”

It was not just the US and Canada that were way off, other countries were hit still \worse. Bloomberg reported that the CAC 40, consisting of 40 companies on the Paris Bourse, was off 9% as was one Dutch index (AEX).

I have seen no reports of someone jumping from a high window as happen in the great depression; however, I would not stand for long on the sidewalks. We may be lucky if we don't refer to that in the future as the near great depression.

The Fed has opened the doors to the major banks to expand the money available because banks are increasingly unwilling to lend each other funds. Some European banks did the same. Countries around the world are being affected as the "American Diseases" spreads. The real fear is asset deflation and there are signs that it is happening as corporations scurry for infusion of capital to prop themselves up.

On the bank front, the news is that the Bank of America announced a dividend cut and plans to sell $10 billion in stock to raise capital. Citigroup and Wells Fargo agreed to try to sort things out. It is not just banks that are in trouble. GE was given a line by Warren Buffet recently.

How is the related to politics? Well, I just told two fund raisers on the phone to forget it. In the meanwhile, John McCain has asked, "Who Is the Real Barack Obama?" Having no issues left, slime is all that he has to through into the political dialog. Sen McCain has proven adept at slime, lies, and distortion.

Somehow the economic news today, which is the result of over seven years of mismanagement by the Republicans and which McCain has indicated would be is economic approach as well, make me worry for my country even more. To my Republican friends few of whom will still speak to me, your party is dangerous to you own pocket books too. If you are not scared, you should be.

Tomorrow is going to be an interesting day. It will almost be fun to watch the two candidates debate. That said, this is not a sporting event. This is how you and I eat.