It's remarkable

Today(Nov 6th) stock markets worldwide tumbled. The ECB cut rates, the Bank of England cut rates by 150 basis points and still the markets plunged. According to Yahoo Finance the 'retailers (except Wall Mart) reported steep sales declines in October', the hedge funds reported results going from bad to worse, jobless benefits on 25 years high and recession fears worlwide. But of course, the market is allways right, although it takes a while before people (or computer programs) begin to realize something is wrong. We have a credit crisis, it popped up more than a year ago in the real estate market. What is the second largest financed property most people have? A car of course. After months with record prices per barrel for oil and at the pump, and financial troubles everywhere, people look for cheaper cars, especially in the U.S. where people need a car. The big auto makers have simply failed to read the market signals and come up with cheaper and better alternatives. And now they are close to a bailout, because the public can't afford their products anymore. There is a credit crisis, frugality is trump for the moment, a recession is unavoidable. And it is very remarkable it takes so long to get through!
But it's NOT the end of the world, it's a perfect time for innovators.