I could have drawn this chart myself but someone beat me to it (Michael Swanson posted on Safehaven.com). Check out what happened to T-bills.
The low yield Wednesday when this huge rickshaw man doji candle formed was 0.65. Today, it dipped to 0.20 before closing at 0.50. That does not even give a positive after tax return let alone deal with inflation. Yet everyone stampeded like wildebeest with lemming guidance systems into the safest investment that ever existed.
Gee, you think that's why commodities sank? Or emerging markets cratered this week with nary a recovery today?
The credit crisis cannot be close to over.