Blue Like You

…Exactly the same “baby/bathwater” cliche was used by Gordon Pape in his current Internet Wealth Builder: “Don’t throw out the baby with the bathwater. In every market downturn, some investors reach a point where fear overwhelms common sense and they sell everything at any price. That happened most recently in November 2006 in the days immediately following the announcement that the government would tax income trusts. Those who blew all their trust units out the door in reaction have long since come to regret it. Don’t make the same mistake now.”

Afternoon Update – Global anxiety takes its toll on the TSX – Globe

Sun- Economic fears complicate decision on election timing:

Mounting fears of an impending economic meltdown are making it harder for Liberals to decide whether to force an early federal election.

Even the most hawkish Liberal MPs were suddenly pulling back from the election brink Monday as stock markets worldwide went into yet another nosedive.

“I think the economy is the No. 1 thing right now, rather than an election, I really do,” said Toronto-area MP Garth Turner…

Does this mean the Liberals will be sitting down on the job again this spring?

CBC – TSX plunges 500 points:

“This isn’t a ‘panic’, but in a thin market, with the U.S. closed for a holiday, the scale of the decline today may have been exacerbated by illiquidity — simply not enough bargain hunters around,” said CIBC World Markets senior economist Avery Shenfeld…