“…a profound global slowdown.”
From today’s New York Times:
Stocks plummeted worldwide on Friday, with severe declines in Europe and Asia and futures contracts on the Dow Jones Industrial Average and the Standard & Poor’s 500 Index falling to their lowest permissible levels before the start of official trading in the United States…The global rout was propelled by dismal corporate earnings and economic data pointing to a profound global slowdown.
As we walked back from dinner along the beach last night, each of us commented on just how quiet the restaurants and bars were. Empty tables were everywhere, some places with well over 80% of their seats unoccupied. At our hotel, bathers fill up only about a third of the lounges around the pool.
We’d heard from folks at home, as well as travelers that we’ve bumped into here in Mexico, that things are usually much busier this time of year. Hotels and restuarants are supposed to be “packed” right now. That is most definitely not the case.
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