Stock Market falls, Houses market bubble, Warhol – Picasso – Kaufman have gone up 60,000%.

By Koleen Washington

Wall Street - "This is the worst in the American stock market has been since Black Monday October 19, 1987." Based on this horrendous start of the trading year, it appears as though an accelerated stock market crash may be underway for 2008. What's changed from last year? Frankly, I was surprised to see continued enthusiasm at the tail end of 2007 given the complete disintegration of the housing market, the lack of liquidity in the credit markets and waning prospects for continued growth locally. The recent unemployment numbers pegging the rate at 5% was a surprise to even the most pessimistic economists. Some would say we're actually already in a recession now. When the revisions are in and you look back, we may have already begun a true economic slowdown in the fall.