" While it may have lacked some of the panache of the previous week's flash crash, Thursday's whipping was a truly impressive wipeout on its own. Big Board volume topped two billion shares with something to spare, and the market came down with a monstrous case of bad breadth: 3015 issues finished in the red, compared with a grand total of 168 that advanced, and new lows outweighed new highs by more than 12 to l. Stocks sliced through supposed support levels -- to lapse into the technical lingo -- like a honed knife through a tub of butter."
From Kenneth Boulding, an excellent Economist (yes, Virginia, there are some):
"First Theorem: "The Dismal Theorem"
"If the only ultimate check on the growth of population is misery, then the population will grow until it is miserable enough to stop its growth." Second Theorem: "The Utterly Dismal Theorem"
This theorem "states that any technical improvement can only relieve misery for a while, for so long as misery is the only check on population, the [technical] improvement will enable population to grow, and will soon enable more people to live in misery than before. The final result of technical] improvements, therefore, is to increase the equilibrium population which is to increase the total sum of human misery." "