This is seriously loopy. To put it simplistically, the Volatility Index is a measure of the levels of 'fear' in financial markets, using data drawn from the renowned and reliable, not to say infallible, ratings agency Standard and Poor's. It's been around in Chicago for years. So far, so pointless. But the fun starts here: not only do they measure today's fear, they also calculate predicted fear levels in thirty, sixty and ninety days' time. Fear futures, in other words. And best of all, you can trade these futures in the marketplace. You can buy and sell bets on how afraid market traders might feel by Christmas. A quick search will put you in touch with people eager to help (at a price of course).
I'll shut up about that now, because my virtual pet snake has just started to eat its own tail again.
In other news, I understand that the markets are seriously jittery at the moment because they don't believe that governments are doing enough to regulate the markets.
And more importantly, have they found Yvonne the Bavarian cow yet?