Time Is Energy

After the deluge...what?

I'm growing very concerned about the damage this "silly" credit crisis may be doing to our real economy, especially the renewable sector. Global markets are in sustained free fall.

There is no person/company/country or combination (of appropriate stature/independence/distance from the financial mess) that is coming forward and saying that this selling panic is insane.

Is every company on this planet really worth 20-30% less than it was 130 hours ago?

(Which makes me wonder if I really should be panicking.)

There is a growing wishlist of solutions, but each solution once implemented has resolved nothing...with pundits almost universally declaring that it is too little, or is too late, or is not addressing the real problem.

Each day that the markets fall 4-8% means that any rebound (assuming it does eventually come) will only fix the damage from that day or two's fall.

Meanwhile, if noone will lend, noone can borrow, and eventually business grinds to a halt. GM drops 30% in one day and nobody says "boo". Actually I assume the market already knows that all the US car companies (and the airlines) are in major trouble, but nobody unrelated to GM--in fact I'm not even sure GM stepped up to say "this is nuts".

Without lending do we even have an economy? How long until lending resumes? Who will be able to borrow?

posted by Daniel @ 8:59 AM