Today on the Australian Stock Exchange, $55 billion was lost. ("I could have sworn it was in my wallet when I went to work", the Chairman of the ASX said, "and then when I went to pay for my morning coffee it was just gone".)
It is such a huge amount no one really can grasp it - it's gone past logic and understanding. Will it hurt the economy? Well yes, it will I guess. Will we soon be making purchases with some bizarre bartering system involving nuts and berries? Too soon to tell; but just in case I'm holding off on eating that big bag of cashews I've got in my pantry.
Look I have an economics degree; I could try and analyse it all, and then weigh up what this will mean on "main street" (my prediction - an increase in teenagers doing "mainies" on Friday nights), but instead, I think it's better to sit back and watch Jon Stewart. Because when all you can do is laugh, you might as well laugh.