The client’s office I attended was 75% empty, with name plates of former employees still on the doors. This was a once proud company with a market capitalization measured in the 10’s of billions, rather that the few hundred million it is today.

The most depressing part may in fact have been watching the news last week, with the lead story being the AIG bonuses. The US Congress has become a complete disgrace, with most of their reactions to public outrage ranging from out and out pandering to just plain idiocy. The US is a country of laws, these are legitimate contracts, the government cant abrogate them, just because these people happen to be unpopular.

Like any other catastrophe, the global financial mess will likely turn out to be a blessing for many writers. The recession/depression of 08 & beyond will probably become, for the literary crowd, what George W. Bush was to the comedic arts in the eight years previous — a never-ending supply of inspiration.

What amuses me most is the range of predictions from the world’s
economic brain trust. Without a scintilla of shame over their previous lack of warning or foresight, we now hear that the current mess will either be over by autumn or perhaps last a decade or so, and become known as the Great Depression #2. Or something in between. Does anyone really know what’s going on?

I guess no one ever claimed that economics was an exact science, at least not recently. You know the old adage, “If you lined up all the world’s economists head-to-toe, they would never reach a conclusion”. Not an exact science indeed. And most emphatically not an art. More like voodoo.

And that of course explains why any fool can join the game armed only with a website and an opinion or two. What’s worse is that the fool, as a financial predictor, stands at least an even chance of beating the pants off a PhD in Economics. When he does, he may quickly reach web oracle status (usually self-proclaimed) and get
very rich selling subscriptions to his financial newsletter; publish a
book perhaps, on how to survive the financial armageddon coming soon to a planet near you. Yikes.

I keep thinking of Marvin Gaye. “Mother, mother …”.

The violence that rocked the world
Reached horrific levels resulting everywhere
With loss of children, women, and men for days
Burned in a church as they were seeking sanctuary
And sanctuary was denied
In flames by mobs infuriated by votes.
The innocent victims faced their rage
Seeking help from locked doors and homes ending
As charred bodies and trash in the once silent streets
No water from kinfolks and no food from neighbors
With nothing gained to be sure.
Only we can save ourselves from this rage

Dedicated to those who lost their lives in the post Election Riots, Jan .2008