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Here We Go Again

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by Felix Salmon
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Oct 24 2008 10:32am EDT

Here We Go Again

Wow. I go off the grid for one afternoon, and the world falls apart? Whatever force it was that caused my JetBlue flight to sit on the tarmac for hours yesterday clearly is much more malign than I'd thought, at least as far as its effect on global stock markets is concerned. TED isn't spiking again -- yet -- but this isn't a credit crisis any more, so much as an old-fashioned full-blown recession: the financial markets got us into this mess, but they can't get us out, not in the short term, anyway.

But I know someone up there has a sense of humor: JBLU is actually up today.

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