Monday, October 13, 2008

The bulls and the bears

For the past year or so, there has been a queer sort of volcano brewing underneath the "everything is fine" face-pack that the world has put on. America's greed has finally imploded, leaving thousands of homeowners with nowhere to sleep. Firms after firms are announcing losses. Banks after banks are having a run on them. 160 year old Lehman Brothers filed for bankruptcy, Bear Sterns and Merril Lynch were gobbled up. The surviving firms are circling like vultures, looking for any decent meat left in the tottering banks. The Fed is to pump in billions of dollars to rescue its economy, governments in Europe are right behind them. Iceland, with debt more than 12times its GDP, is melting in its own deeds. Rising oil costs, painful levels of inflation. An extreme credit crunch, the financial world at a standstill. Thousands of jobs lost, wealth disappearing... The future has never looked this bleak.

This is serious enough for President Bush to stand up and give a speech once in a while.

This is serious enough for me to use it as an excuse for not blogging frequently.

This is pretty serious.
But apparently, not so much for Jamaica.

Anyone listening?

1 comment:

Sharanya said...

not good enough excuse for u to take a break from blogging :-)