One inescapable reality is that all things break down at some point. Some can be repaired, some can be replaced, some are lost forever, but this is what happens in life.
Yesterday our internet access went down and so did one phone line as we discovered this morning. Good thing we called in since it turned out to be a cabinet problem that affected others too. But repairs took awhile and service wasn’t restored until after 2PM. For which I’m grateful.
Timing wasn’t great since I had been hoping to see how world stock markets reacted to Friday’s downgrade of the U.S.A. by Standard & Poors. Not surprisingly, they didn’t take it well and the Dow Jones was down by over 500 at one point. As I type, a minor rally failed at it is down 500 again which is a loss of 4.4%. Nasdaq and the S&P 500 are being hit harder, both down more than 5%.
People can point politically motivated fingers all they want, but this is debt driven and can’t be fixed. An ineffectual, incompetent, and detached president doesn’t help, but this is the result of decades of financial folly. It can’t be easily fixed. Most likely it can’t be fixed and we’ll have to take our lumps
Such is life and the current generations have had it easy to this point. Many of our ancestors would shake their heads at our mistakes, but most of all at how spoiled we are. Time to pull ourselves up by our bootstraps and stop looking to others to solve our problems.
Sad thing is we no longer have true leaders to get us out of this mess.
Updated
Mere moments after posting this, the Dow dived to a 632 point loss or 5.53% down.
Updated Again
London is burning. “Youths” are doing their best to destroy everything they can and beat as many people they can lay hands on. The citizens are defenseless against this and I can’t think of a better argument in favor of the 2nd Amendment.
It isn’t just finances that are falling apart in the world. Order is beginning to as well.
No comments:
Post a Comment