Well the markets continue to dig holes. As I’ve been telling people, and I am by no means an expert, but what I do know is we don’t to hit historic levels. And we are…
Desi asked how this will affect us. Well, I could lose my job but, so far, the tech sector hasn’t been as hard hit this time around. Our bank accounts are protected (though that does remind me, I need to open another account – we’re only insured up to $250K. Hey, I can dream!). Luckily our cars are fairly new but if the Neon had lasted a couple more years we’d be looking for a car and that’s not the same anymore.
But our 401K’s are taking a beating. Even between my fingers I can see the damage that has been done – 18% down. I’m glad my retirement plans includes working at Walmart at a greeter – though I suspect many are adding this to their plan now.
There are a number of Rats that have been flushed out into the open and I believe its just the beginning of the witch hunts. I also believe the US will be vilified throughout the worlds’ markets. And we can take the same approach we have with our financial leaders. We didn’t ask you to invest in our markets. It was your choice.
Though the next question I ask is are we leaders? Do we take responsibility though its, technically, not our problem? As the golden rule applies to the individual, I believe this quote applies to the masses: “the only way to lead is by example.” (I cannot find who first said this, please let me know if you know who did.) I believe we have a responsibility as the founding global culture.
There are a couple couple interesting articles on WSJ there are interesting from the global perspective and from a historic perspective. Have no doubt there are rats to be skinned but most will run away unscathed.