Tuesday, January 6, 2009

1929 all over again

This is one of those sad consequenses of the current economic situation. Back in 29 it was noted that some on wall street jumped from their office windows after loosing everything. History seems to be repeating itself. A German billionaire investor has ended his life after loosing hundreds of millions by shorting Volkswagon stock.

Time to ban shorts and hedges?


What people don't seem to understand is that all of these doings are chipping away at the very foundation of our economic system. You might want to say "well that doesn't effect me", but it does. When Enron did their dirty deeds jobs were lost and retirements were wiped out. Imagine having retired and getting a monthly statement with no check in it.

5 comments:

BBC said...

Actually, it's time to end greed. And in another year or two it's not going to look good to be rich.

Or for that matter, even somewhat wealthy and comfortable. Throughout history there has been times when the poor starting killing the wealthy, or at least trying to.

The wealthy know this, that is why they build walls and secure communities to protect them.

Yup, just history repeating itself. Helen lived through 1929 and has given me much advice, that I take serious.

BBC said...

Well, Helen had a very hard and poor life, so she knows every trick in the book for getting by.

BBC said...

And she is still the happiest and most cheerful and best well adjusted woman I've ever known. Most women aren't happy unless they have a lot of stuff and getting more of it.

BBC said...

It's really wet over here, I suppose that you are getting the same.

dana wyzard said...

Demeur, I"m uh. . . I'm on here with BBC. . . oh well. You will, of course, be mentioned on my FRIDAY'S READER'S SPECIAL with a linkback to this blog. . . . but you might wanna keep it on the down-low because we're basically doing a TRIBUTE to BBC this week.