A lot of people keep asking me what I think about the current state of the financial markets. Well, I think they suck. Having said that, I have given people the same advice as I’ve taken myself lately – which is, hold what you’ve got.

I don’t really have time to go completely into all the various points I’ve been considering lately, but here are a few key resources that I believe will help to give you a good idea of what all is going on:

1. World’s central banks cut rates to rescue economy
2. Angel Investor Ron Conway Emails His Portfolio Companies Over Financial Meltdown
3. Worst stock market crash since 1937
4. Stock Market Plunge Spreads Worldwide
5. VIX Jumps to Record, Topping 56, on `Mad Rush’ to Sell Assets
6. Asian Markets Plunge as Fears of Global Recession Looms
7. Causes of Great Depression
8. Stock Market, History,Causes and Affects
9. Thoughts on the Global Financial Mess: Gimme Shelter (and some transparency, please)

Feel free to drop questions or comments below and I’ll answer them for a few days as I have the ability to check on them.
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Folks, I’m going to go ahead and call it, even though no one else seems to be willing to do so. We’re officially in a recession.

The National Bureau of Economic Research defines a recession as:

A recession is a significant decline in economic activity spread across the economy, lasting more than a few months, normally visible in real GDP, real income, employment, industrial production, and wholesale-retail sales.

Let’s take a look at some of the leading indicators, shall we?
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