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.
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Re: Crazy times
dollar : euro = 1,5 / 1
Re: Crazy times
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.
Re: Crazy times
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...
Re: Crazy times
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.