Globe via Flickr

The global credit meltdown continues cascading across the world, jumping from country to country and leaving no market intact.

The credit crunch and public fear is widespread and this is no longer a US-centric issue. Financial instruments packaged risk beyond understanding of the underlying assets, and these instruments were distributed across the world.

In many ways, I see parallels on how the financial markets became interconnected with the growth of the Internet, where the US is no longer the centrepoint.

As a NY Times article recently said:

While the United States carried 70 percent of the world’s Internet traffic a decade ago, he estimates that portion has fallen to about 25 percent

We are all in this together.