World market respond to Sunday night Wall Street tsunami

Update: CAC40 (France) now down 5.58%, DAX (Germany) down 3.97% and FTSE (UK) down 4.67%. Dow futures (pre-market) are now down 377 points.

And it ain't a pretty sight to see. We already know what McCain thinks because his economic adviser thinks we're all exaggerating, that these are the best of times. McCain admits he doesn't know anything about economics, so he relies on clever folks such as Phil "whiner" Gramm and Donald Luskin.

Limited trading in Asia but Taiwan is down 4% and Singapore over 3% down. At midday in Europe it's a bloodbath with the DAX, FTSE and CAC40 all down over 3%. Wall Street futures have been reportedly down 300 points and rumors of "chaos" and "panic" are everywhere.

The Bush/McCain Republicans set this up and friends became very rich. Now we're all stuck with the bill and the Republicans who created this financial crisis are nowhere to be seen. Phil Gramm, McCain's close friend and economic brain, is puzzled about what went wrong but that's still not going to make up for the hundreds of billions of dollars in debt that we now own as a nation. More later on the Wall Street tsunami.