Guus Bosman

software engineering director


You are here

dailylife

Crazy times

Crazy times.The last few weeks have been crazy in many different ways. And boy oh boy, what a mess the economic system is in.

Today the Dow Jones saw the sharpest drop ever, after the bailout plan failed to make it through Congress. I was not a big fan of the plan, with its proposed massive government intervention in the market, and some say that a 'correction' would have been healthy. It's impossible to know of course, but a lot of very smart people have warned against the dire consequences of not passing such a bill. Let's hope it doesn't come to some of those scenario's. Last night Wachovia was taken over; Wachovia has its headquarters in Charlotte, NC.

Once thing is clear: neither Mr. Obama nor Mr. McCain, let along President Bush, have a strong control over their parties and their voting on this issue.

Crazy times.

Comments

dollar : euro = 1,5 / 1

Jaap's picture

One day someone has to pay the national debt of US. Most developing countries dont have any money. US do not have money, they have debts.

Jaap, debts = money. This is nicely illustrated in this cartoon:
http://www.youtube.com/watch?v=vVkFb26u9g8&feature=related

Stunning, isn't it... :)
And Guus, you were not a big fan of the bailout plan? Hmmm, that comes as a surprise to me...

That's a very nice set of cartoons! I enjoyed watching them, very insightful.

I'm not a big fan of a bailout plan like this; I don't like the interference and government stepping in. But, if I had been a House member I would have voted for it; it's a necessary evil.

Recent comments

Recently read

Books I've recently read: