Steak sauce!

Last night’s SNL’s 30-minute “Weekend Update” special included a hilarious rendition of Hall and Oates’ “You Make My Dreams Come True” redone for the 2008 presidential election.

Seriously – this is “greatness” defined.  Kudos to Will Forte and Fred Armisen!

Stocks tumble at opening bell

Within the first five minutes of trading today, the Dow dropped 600 points and fell below the 8,000 mark.

President George Bush is scheduled to discuss the economy in a press conference at 9:00am CST.

The G7 can’t meet fast enough.

Folks – Is this is a real emergency we’re facing?  Is this bear market gonna turn around?

Maybe it is time to jump in at these rock bottom, 52-week low prices?

Who knows?

I can tell you this much – I’m going to wait to hear the details from the G7 meeting before jumping back into Wall Street.

How do we sleep when our beds are burning?

Those of us hoping to wake up to good news this morning were severely disappointed.

Overnight the financial crisis that his hit the U.S. economy continued to trickle to markets around the nation.

As domestic stock futures tumbled last night, the European markets were hit heavily.  The English, French, and German markets all fell 6-10% overnight while Japan’s Nikkei Exchange closed down nearly 10%.  Meanwhile Australia closed 8% down and India at 7.4% down.  Things were so bad in Russia that the government closed the markets on Friday and has decided to keep them closed until further notice.

These same countries appear to be following in America’s footsteps in the form of government bailouts.  Japan has offered $45 billion, India has offered $8.2 billion, and three European central banks have offered $120 billion to increase liquidty within each country’s financial institutions.

So now we ask ourselves what the next step will be to eradicate this mess.

We all know that the United States Federal Reserve has taken action, but now its time to find solutions on a more global level.  It has become obvious with this recent course of events that the foreign capital invested into America’s failed mortgage-based securities over the last 10 years was enough to cause banking crises around the world.

A G7 meeting has been planned for this weekend, with the financial heads of the seven major industrial nations in the world to meet and discuss options and solutions to the economic turmoil.  Hopefully a worldwide amicable solution can be identified.