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Generational Dynamics Web Log for 11-Jan-2011
11-Jan-11 News -- Riots in Bangladesh as stock market appears to be crashing

Web Log - January, 2011

11-Jan-11 News -- Riots in Bangladesh as stock market appears to be crashing

Illinois may vote to increase income taxes by 75%

Riots in Bangladesh as stock market appears to be crashing

Almost the entire city of Dhaka, the capital of Bangladesh, came to a standstill on Monday, as thousands of angry investors poured into the streets and staged violent demonstrations, according to Bangladesh News 24.

Dhaka Stock Exchange - One year preceding January 10, 2011

Dhaka Stock Exchange - One year preceding January 10, 2011

The stock market had fallen 7.8% on Sunday, largest in the history of the Bangladesh stock market. It then fell an additional 9% on Monday during just the first hour of trading, after which trading was ended for the day. Rioting spread to other cities after trading was suspended.

There seems little doubt that the stock market was in a large bubble. The stock market index rose 80% in 2010, peaking on December 5 of last year. Then, on December 19, the market fell 6.73% fell, according to CNN. This trigger protests in Dhaka and around the country, though not as large as the new protests.

There are 3.5 million investors in the Bangladesh stock market, and this appears to be a full-scale panic. Regulators are trying to use every tool available to them stop the panic, but it has not yet been announced with trading will resume.

If you're an investor in the stock market, then you should understand that the same thing could happen to you at any time. There were several "mini-panics" last year, especially around the time of the bailout of Greece. The euro zone is going through another crisis this week, so be prepared for anything.

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The state that's worst off financially -- even worse off than California -- is Illinois, with a deficit of at least $13 billion, more than $6 billion in unpaid bills to social service agencies, schools and funeral homes, and the most underfinanced state pension system. The Illinois legislature is now on the verge of voting to increase the state income tax by 75%. NY Times

It's been revealed that some time in September or October of last year, Chinese troops crossed the border to Indian-controlled Kashmir and forced construction workers to abandon their work. DNA India

Why Chinese mothers are superior. Wall Street Journal (Access)

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Generational Dynamics Web Log for 11-Jan-2011 11-Jan-11 News -- Riots in Bangladesh as stock market appears to be crashing

Riots in Bangladesh as stock market appears to be crashing

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Generational Dynamics Web Log for 11-Jan-2011
11-Jan-11 News -- Riots in Bangladesh as stock market appears to be crashing