Tuesday, February 10

Wah wah trombones

For anyone who listens to Marketplace, you know the wah-wah trombones are for down days in the stock market. I have been mulling over a post about the terrible wildfires in Australia, and how they symbolize the future for CA. More on that soon.

But, I was just cruising the Internet, like one does, and came across this nugget of information at Daily Kos. In brief, the global economy was just three hours away from complete collapse in mid-September. Three hours away from a barter system and marshall law and anarchy. The end of civilization as we know it. You can read Daily Kos full post, but some choice excerts include:

Representative Sherman later revealed that members were warned that Martial Law would result if the $700 bailout plan was not passed, and Iguadland10 posted another video ascribing that particular warning to Paulson.

The New York Times quoted Senator Dodd as jumping in when Charles Schumer described the meeting as 'somber': “Somber doesn’t begin to justify the words,” he said. “We have never heard language like this.” Also from NYT: Although Mr. Schumer, Mr. Dodd and other participants declined to repeat precisely what they were told by Mr. Bernanke and Mr. Paulson, they said the two men described the financial system as effectively bound in a knot that was being pulled tighter and tighter by the day.

AND from Rep. Kanjorski:

Somebody threw us into the middle of the Atlantic Ocean without a life raft and we're trying to determine what's the closest shore and whether there's any chance in the world to swim that far. We. Don't. Know.
These are really, really terrifying points of discussion. Mainly because -- what the hell does the world look like the day after civilization ends? Daily Kos points out that things are still slipping, despite all the money being thrown into the problem. Assest prices are falling. And more assests are being affected as time progresses. (Remember $4.00 gas?) Economies are still "spiraling" downwards.

So with such scary thoughts before bedtime -- what do you think the end of the civilization would be like? If you heard on the news, that the economy had collapsed, would you go to work the next day? Would you buy a gun? Would you be the first into the streets looting? I can only imagine the carnage. But maybe I am missing something. What do you think would be the first to go?

1 comment:

  1. Arrived here looking to hear some Mrktplc -ve numbers trombone.
    Kai Rysdall seems to be the only One with that joint.

    ReplyDelete