Global equity markets plunge while the U.S. market is on holiday. (Bloomberg.com)

The bear market is well under way in many countries. (Bespoke Investment Group)

“(W)e trade together in corrections.” (NYTimes.com)

What might happen next. (Howard Lindzon)

Equity valuations at levels not seen since 2002. (Morningstar.com)

Reversion to the mean for the financial sector equals trouble for the overall stock market. (InVivoAnalytics.com)

Will this go-round of foreign investment in U.S. assets turn out better than the last? (naked capitalism)

According to the ECRI we are “very close” to being in a recession. (Curious Capitalist)

Will it be a “deep recession” involving the consumer in a big way? (WSJ.com)

The Prince’s favorite blogs and sites for 2008. (Prince of Wall Street)

The state of the bond insurance market. (FT Alphaville)

How big is the equity premium? Academics answer. (CXO Advisory Group)

Physical proximity still matters. (The Stalwart)

A closer look at demographics and housing starts. (Calculated Risk)

“(A)n investment tax credit stimulates the most when it is expected to be temporary.” (Marginal Revolution)

“(A) huge wave of what you might call developing-country multinationals…have recently begun to move aggressively into Western markets.” (NewYorker.com)

Art dealers and auction houses play very different roles in the art market. (Alea)

The NHL is profitable, but still not all that popular. (American.com via DealBreaker.com)

Setting the spread for the Super Bowl. (Crossing Wall Street)

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