It's been a week since my last post, eek! But I'm back now even if a bit sick (I've been told that first year teachers have the worst time staying healthy.).
It's worth reading the entire post about how emerging markets (the term "emerging markets" refers to developing countries who are quickly becoming 1st world economies) are getting the shat kicked out of them as a result of the current financial crisis. Sure, things are bad here, but things are BAD there. Here's an excerpt of the post that highlights the free fall some countries are experiencing:
"Markets down more than 70%: Vietnam (-70.5%), Peru (-73.2%), Ireland (-73.4%), Russia (-73.9%), Iceland (-88.7%).
Markets down between 60% and 70%: Hong Kong (-60.1%), Poland (-62.6%), China (-69.8%).
Markets down between 50% and 60%: South Korea (-54.5%), Italy (-55.2%), Egypt (-56.9%), Brazil (-57.2%), Japan (-58.1%), Singapore (-58.2%), Turkey (-58.5%), India (-58.3%)."
Egads those are devastating numbers. It's similar to global warming in that the countries causing the problem are adversely affected, but countries that are merely bystanders bear significantly more pain.
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