Sunday, October 05, 2008

The Grand Decline

I had a good friend call me last week, and leave me a voice mail. His question was "Whats it all worth, man!?"

This has been
an amazing ride, these past several weeks.

World financial markets have been in near complete turmoil, and most experts think the bad news is not completely over. Not even close. The foundations of financial markets have been shaken to their very core.

Can you spell Recession, with a capital "R"?

The casualty list is really amazing. Bear Stearns, Lehman Brothers, AIG, Smith Barney, WAMU, Wachovia, and many others; perhaps more big ones to come. How did we get here, and where are we going to go?

And now, we have The TARP Bailout.

If the entire Credit Crisis were to be viewed as a football game, where were my seats, as a small business person, during this game (and it really was a game)?

I was watching, but likely from the very top row of the cheap seats, or maybe from a hillside above the game, like they do at Berkeley.

Over the next couple of days (ok, maybe a week or so, I have a job and a life, I do not
blog all day in my PJs) I hope to offer some of my thoughts and reflections from Tightwad Hill.

Also, the most informative thing I have seen about all this is the Charlie Rose interview with Warren Buffet. I see Warren as the FDR we Americans need in a time of crisis, since our existing President seems pretty much Deer in The Headlights over the past couple of weeks.
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