It looks obvious

“Things should be made as simple as possible, but no simpler.” — Albert Einstein

Bad times

Comments

My office is located on Wall Street. I like coming to work early and leave early - so I have more quality time with my family, so I am usually in the office at 6:30 AM.I like walking from the train station early in the morning, watching the city wake up, the streets aren’t yet full of people running and rushing. But today the feeling was completely different. Wall Street was full of cameras and reporters getting ready for the stock exchange opening. It was kind of scary, the quietness before the, unavoidable, storm.
I working here for a while now - I was here when the high-tech bubble burst. I was here at 9-11 and the days after when the streets were covered with dust and smoke. Today scene reminded me the stories about the 1929 crush - the fear on the faces, the worry about the outcome and the knowing that we are facing bad times.
I’m not an economist, but It seems to me rather peculiar that the measures the Fed took today to stop the collapse are the same, or very similar, to the policy that create this crisis to begin with.

Written by Rogel

January 22nd, 2008 at 11:59 am


Warning: strtotime() [function.strtotime]: Called with an empty time parameter. in /var/www/vhosts/rogelsview.com/httpdocs/wp-content/plugins/disqus/disqus.php on line 130

Trackbacks

blog comments powered by Disqus