THE TENSION: The Decline and Fall of Western Civ for 27 Feb.

The Decline and Fall of Western Civ.: Barbarians have Crashed the Gate

Not the stars of today's China Syndrome.
It's the end of the world as we know it...

Some are calling it "the China Syndrome." The big story today, from The Washington Post: U.S. stocks fell sharply today, with all three major indexes falling more than 3 percent and the Dow Jones industrial average plummeting more than 416 points. These losses followed an overnight sell-off that began in Asian markets and continued through Europe.

Recent increases in oil prices, edginess about the standoff over Iran's pursuit of nuclear technology, and expectations of a slowing U.S. economy added to a string of losses that have pushed the Dow down steadily since last week.
The Associated Press states it outright: Stocks had their worst day of trading since the Sept. 11, 2001, terrorist attacks Tuesday, hurtling the Dow Jones industrials down more than 400 points on a worldwide tide of concern that the U.S. and Chinese economies are stumbling and that share prices have become overinflated.

However, AP immediately dived into speculation to introduce the rest of the news:

The steepness of the market's drop, as well as its global breadth, signaled a possible correction after a long period of stable and steadily rising stock markets that had not been shaken by such a volatile day of trading in several years.
The Wall Street Journal and AP report the sudden, sharp decline by the Dow Jones Industrial Average shortly before 3 p.m. Eastern time today was triggered by a tabulation delay by Dow Jones data systems, which calculates the average. There was a temporary lag in calculation of the 30 large-stock average due to a surge in order flows as the market continued to tumble in afternoon trading, much like a clogged pipe. Just before 3 p.m., Dow Jones Indexes switched over to a backup system to calculate the average, which nearly instantly registered the huge move.

Reuters reports how it all began: Chinese stocks plunged nearly 9 percent on Tuesday, erasing about $140 billion of value in their biggest fall for a decade, amid fears that authorities would crack down on speculation that drove shares to record highs.

NASDAQ down nearly 4%; S&P 500 falls more than 3%.

CBS MarketWatch reports Japan's Nikkei 225 opened down 276.31 points at 17,843.61. More news on the impact on international markets from FT.com. Japanese stocks fell sharply on Wednesday morning, joining a global slump the previous day that saw US stock indices posting their steepest drop since the September 11 2001 terrorism attack and China suffering the worst fall in a decade.

More from CBS MarketWatch; The Street; US News blames Drudge Report for plunge.

Equally important is the news that a suicide bomber attacked the entrance to the main U.S. military base in Afghanistan on Tuesday during a visit by Vice President Dick Cheney, killing up to 23 people and wounding 20.

The Associated Press reports Cheney was unhurt in the attack, which was claimed by the Taliban and was the closest that militants have come to a top U.S. official visiting Afghanistan. At least one U.S. soldier, an American contractor and a South Korean soldier were among the dead, NATO said.

In an updated story AP said the bomber struck about 10 a.m., and U.S. military officials declared a "red alert" at the sprawling Bagram Air Base while Cheney was rushed to a bomb shelter. Cheney, who had been stranded at the base overnight by a snowstorm, met with President Hamid Karzai in the capital before heading back to the United States via the Gulf state of Oman.

"I heard a loud boom," Cheney told reporters aboard Air Force Two en route to Oman. "The Secret Service came in and told me there had been an attack on the main gate."
Reuters reports Cheney took refuge in bomb shelter after the blast.

News25.com reports the suicide attack shows that the Taliban and al-Qaeda have penetrated local intelligence agencies, analysts and officials said.

Security problems dogged the trip, according to AFP.

Over at the liberal Huffington Post blog, reader's comments about the news included many who expressed their wishes that Cheney had died in the blast and dismay that he did not. All of the abusive comments have been removed.

Conservative radio talk show host Rush Limbaugh has posted the Huffington comments on the show's Web site. Limbaugh has also posted a transcript of an instant message conversation where a Hollywood writer said this about the VP.

If Cheney wasn't such a p****--he'd get killed and bring some happiness to the country and i would have a much needed day off bloated f*** cant do anything right.
Lliberal tolerance really doesn't go very far to include conservatives.