VIX Rises Above 70

The volatility index has sharply risen today to 72.85 the last time I checked.
http://blogs.wsj.com/marketbeat/2008/10/10/the-soaring-vix/

We have gone from the VIX being at 10 in early 2007. Basically, the market didn't see risk anywhere. Now, under every rock and behind every door is more risk. Every major central bank and government is trying to fix this mess.

http://www.businessweek.com/investing/insights/blog/archives/2008/10/the_vix_could_t.html
Is it a bottom?


The decoupling of financial and real markets across the world was a myth. Every stock market that I can think of has fallen in the last couple weeks. Germany, Russia, Brazil, India, Iceland.
The real economies of emerging markets are still growing, but it is clear that they are slowing resulting in downward pressure on oil prices. Yet for some reason US Dollars and Treasuries are still in demand. Dare I say it, the long-term fundamentals of the United States are still good.