Midknight Review -- new and revised: Futures lost 700 points, last evening. "We are officially in a correction" according to the talking heads.

Editor's notes: Keep in mind, the September 20, 2008, crash was 777 points. 12 weeks later, the Market had lost more than 4,000 points. Oil is down, selling at 38 bucks a barrel, this morning. Questions: are we about to [officially] dip into a second recession, in the months just before the national elections? Secondly, is this, in any way, an indictment of the Obama policies, or, is this only [but profoundly] a creation of "traders" versus investors?

Update: as of 5 am pt time, futures are down 671 points, China's market has lost more than 8% of its value, and all markets, world wide, are suffering. For the next several hours of this news day, this is the most important story. Understand, Obama has cited the Market's success since 2010 (and the creation of Quantitative Easing) while pretending his policies of tax and spend with a record emphasis on healthcare costs and regulatory fees and prohibitions. Today, that fantasy will be swept away.

Update #2: FoxBusinessNews [5:15 am pt] is predicting a market opening of <700> points.

The Stated Nonsense from the Left now includes these Progressive goals:

July 2, 2008, Obama had this to say: "We cannot continue to rely only on our military in order to achieve the national security objectives that we've set. We've got to have a civilian national security force that's just as powerful, just as strong, just as well-funded."

MICHELLE OBAMA: "Barack knows that we are going to have to make sacrifices; we are going to have to change our conversation; we're going to have to change our traditions, our history; we're going to have to move into a different place as a nation."

“ . . . . . . they have become a generation of activists possessed with that most American of ideas – that people who love their country can change it.” -- Obama the Radical

On September 30, Van Jones told MSNBC "I think everybody should hold onto your seats. October is going to be the turning point when it comes to the progressive fight back."

Midknight Review -- new and revised

Futures lost 700 points, last evening. "We are officially in a correction" according to the talking heads.

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