this is 1929 repeating, page-135

1929..Hardly.

Fundamentally this is a normal correction. Pure and simple.

The difference is that in 2009 the internet and 24/7 media coverage is screwing the market with all this PANIC. The big failure in regulation from the US that caused all the subprime mess is another. Even Greenspan admitted his free market philosphy was a mistake and regulation is needed.

So I say, pull the plug on CNN and the Internet for a week while the G20 put in some balanced regulation and tell people to spend as normal but responsibly. Lets get back to normality shall we.

People have to say NO to FEAR and show a little backbone because FEAR is the only thing driving down the market, not fundamentals. Buffet knows that so bring on the rally and tell the doomsdayers to shut it :-)