What happens if all value becomes valueless. If the stock market goes to zero. So far this year the S+P and the Dow Jones is about half way there. It is so important it is meaningless. Will there be an abstration? A separation of stock value from production? Money will still exist and there will still be demand. So will there be production, too? It's as if we all forgot that if we click our heels and say "there's no place like home" three times it'll all be better.

• Pirate War Update: Ben references the British Foreign Office saying the navy needs to consider the rights of pirates. Send them to us! Canada has no qualms as all piracy anywhere is a crime under our law and earns a life sentence.
• Did The New York Times forget to change its headline...for the last ten weeks: "Stocks Drop Sharply and Credit Markets Seize Up"?
• I forget. When is Alberta oil not worth sucking out of the tar sands? I bet it's somewhere between $50 and $30 bucks.
• What makes me think that there are other things on the minds of the powers that be than letting Conrad Black off the hook?
• Should Canada really put money into car production when no one is buying cars?
• Speaking of pirate, you have to remember that the USA started out with an African pirate problem.

That's it today. Short and gloomy. Maybe I will find some cheerier news through the day.