The 2008 Global Financial Crisis
A lot of people keep asking me what I think about the current state of the financial markets. Well, I think they suck. Having said that, I have given people the same advice as I’ve taken myself lately – which is, hold what you’ve got.
I don’t really have time to go completely into all the various points I’ve been considering lately, but here are a few key resources that I believe will help to give you a good idea of what all is going on:
- World’s central banks cut rates to rescue economy
- Angel Investor Ron Conway Emails His Portfolio Companies Over Financial Meltdown
- Worst stock market crash since 1937
- Stock Market Plunge Spreads Worldwide
- VIX Jumps to Record, Topping 56, on `Mad Rush’ to Sell Assets
- Asian Markets Plunge as Fears of Global Recession Looms
- Causes of Great Depression
- Stock Market, History,Causes and Affects
- Thoughts on the Global Financial Mess: Gimme Shelter (and some transparency, please)
Feel free to drop questions or comments below and I’ll answer them for a few days as I have the ability to check on them.
Here is a little video from yesterday to cheer you up:
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The biggest thing to remember is that the stock market is not the economy (as Reagan once said). TMQ has a great post on this – well he’s a ESPN writer – but the nugget is buried deep in his most recent post. He basically says the stock market is where people assign value to stocks – not necessarily one which determines the strength of the economy. Anyways. You have to read it. Go to ESPN and check out TMQ under Page 2.
Quite a few events are occurring concurrently, and so the effects are partially multiplying with one another. One might wonder how it will seem looking back on this time a year from now, and seeing that many of us did not know the result of these financial events.
Damn it, this is bad. I wonder what the future holds now that it seems like we’re slowly sinking. Eish, I don’t even want to think about it.
I agree to an extent but this is more worse than that.People aren’t making money this time round.Its worse than i thought
There certainly are those who know how to make money off a stock market crash. During the Great Depression there were those who made a fortune. Seems the as usual the rich got richer and the poor got very much poorer. There are those who know very well how to create a crisis and profit from it. I see a pattern emerging. One does have to wonder (in spite of all the legislation that has been passed over the years) how it is still possible to happen. Seems our law makers never really get it right. It could be they really don’t actually do anything to prevent it. Could be they just pretend to fix it. People become confident things will be OK. They start investing again, until the next crash comes along. Then we all just repeat the same senerio over again. Maybe it’s just me. But I see the wool being pulled over everyone’s eyes yet again.