We're not in the Second Great Depression yet, but things are certainly not getting any better. I talked to my grandfather this weekend, and he had an interesting take on the whole thing:
Nowadays, people can get up-to-the-second stock numbers on their TV, computer, or cell phone. Back in the 1920's, people could only get information about the stock market in their morning newspaper (unless you lived on Wall Street). They would have time to think about it while they ate breakfast, got to their office, and then they could buy/sell.
Now, people see the latest numbers, and they panic. Seeing how the DOW will drop 500 points, gain 700, drop 300, gain 200, etc., people will immediately panic and try to get rid of/buy lots of something. Since you can go right on your computer and do that instantaneously, there's no time to think about it, and nothing to slow you down. And I think it's that impulse buying/selling that's causing a number of problems on Wall Street. Think about it.
And WJUK, I agree with you. It's also that kind of stupidity that caused all of the banks to fail and require government bailout.
I think that this is an excellent observation, wish I would have commented on it sooner. I like to say that hype and panic make or break companies nowadays because of the instantaneous nature of the stock market, and hell, just about all information nowadays. Investors react to a microscopic level, and their reactions influence the macro level exponentially. Some companies really just don't have a chance.
And a quick note on 'global warming'... no one can really deny that there's been some deviance in the average temperature of the earth lately, the big question is, 'is it man made?' and if it's man made, the even more important question is, 'is this new cult of green, and all of the energy spent 'going green' wasted in attempting to control a climate that has a history of changing dramatically. The sun burns hotter for a while, the planet reacts. It's all a balancing act.
Thing is, people are very egotistical. They think that sense we're here and we're humans and humans are sooo powerful and our presence is felt sooo heavily on this earth, that our actions must be the root of any changes going on in this planet. People who live in densely populated areas begin to forget about the rest of the world. I'll tell you one thing, when I'm traveling in a plane and we're approaching a landing, I see miles upon miles of trees and fields, until finally my city appears, absolutely dwarfed by nature around it.
I think if people live away from nature long enough, they begin to think that everything on this earth was created by and can be controlled by man...
Unlike, however, our economy, that only looks random most of the time because of the scope of variables influencing it, most of which are actually man-made, so that thought makes the above even more off topic
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