Since mid-2007, the global economy has been unravelling in disconcerting fashion. That has taken governments and `aam aadmi' by surprise in most countries. The nature and speed of this `unravelling' has been discomfiting. It affects everyone: i.e. individuals, poor, middle-income, or rich, multinational and domestic firms, academics, governments or regulators.

Global turbulence is certainly affecting India. We can see that in sudden changes in our inflation rate, growth rate, exchange rate, and in our capital markets. We can see it in the stresses and strains it is putting on fiscal, monetary and social policy. But, by and large, the impact of global ructions has so far been less on India than on other energy importing countries. The continental dimensions of the Indian domestic market are now generating a powerful internal growth dynamic with rising domestic incomes. That provides India with some shelter from this global storm.

As gloom besets capital markets in the developed world, the prospects of emerging ones continue to shine.

The credit crunch that erupted in mid-2007 has already taken many new twists in the first half of 2008. But new McKinsey research shows that, amid the general uncertainty, the outlook for investment banking in emerging markets remains relatively bright. Full report by Mckinsey

Mint , the personal finance software people have an article on 9 tips to help you quit your job.

Daydream about quitting your job and doing something you love? Rather than simply dreaming, why not establish your goals and work toward a day when you have enough money or alternative income to quit? Here are some helpful tips that everyone can use. To achieve Financial Freedom, read on

Bank for International Settlements ("BIS") has a working paper on Distress selling and asset market feedback  by Ilhyock Shim and Goetz von Peter

 This paper examines the process of distress selling and asset market feedback. It splits this process into several stages, in order to analyse what triggers distress selling, why asset prices fall, and how falling prices generate additional rounds of selling.