Last October, 2point6billion.com, reported on emerging Asian markets constantly climbing new heights – the Sensex, a benchmark index for the Bombay Stock exchange had gained by two percent to 18,658.25 after hitting a lifetime high of 18,703.67 during trade and traders were positive the market would rise well above 20,000.  Across the Himalaya’s in China the optimistic sentiment buoyed by banking and steel stocks continued. The Shanghai Composite Index gained 23.13 point to 5,715.89 on the 9th of October and the next day it gained 55.57 points, or 1 percent, to 5,771.46.

That was then.

As cracks in the western economies began to weaken Asian stocks earlier this year, 2point6billion.com, investigated the Asian stock slide. Taking reprieve in a temporary correction at the time, analysts concluded that the Sensex’s 16.08 percent nosedive during the first two months of 2008 and Shanghai A Index’s slip of 17.36 percent during the same period was just a reaction to the market realigning itself from a drastic rise.

However we should have seen the plunge coming by August when 2point6billion.com reported on Asia’s IPO market loosing steam or when when we reported on tighter corporate funding, or even when economists warned of inflation in food grain and energy  crippling economies.

By the time political turmoil hit Asia in late summer and the U.S. realty market collapsed it was already too late. The chips fell hard and fast. Asian markets coupled to global markets tumbled to new lows, billionaires lost half their wealth, oil prices crashed, millions of pink slips were handed out and investment bankers became an extinct species.