View From The Street

At noonish or so Dow's off 200, the US Dollar is down 1.5% against the Euro out to $1.46 per Euro, and could end up at $1.50 a Euro or worse over the next few days/weeks. The Dollar is going to continue to get shit-hammered. WaMu's down 20%, Wachovia's down 12%.

Not even the largest plan to nationalize debt ever is helping Wall Street at this point. That speaks volumes.

AIG has been replaced on the Dow by Kraft.

Oil contracts have jumped up another $5. They were at $91 a week ago, now they are at $109 and rising. People are getting back into commodities quickly. Somebody figured out that through a 40% oil price drop, we've had maybe a 5-10% gas price drop in the meantime.