Wednesday, October 08, 2008

Melt Down Revisited

The nightmare continues.

This is much worse than 9-11.

Much worse.

After 9-11 a large percentage of investors moved their money out of the market, or at least out of equity investments into bonds, money market funds, and guaranteed interest options.

The financial services industry was seen as a victim of terrorism, and it was the patriotic, and sophisticated thing to stay in the market.

This time, this bear market, is much different.

Questions of solvency, of the very nature of the market, and of the financial sector are at the very heart of the meltdown.

People no longer trust, no longer have confidence in banks, insurance companies, brokerage firms, the market itself, or their government - even real estate for god sake!!!

Every day I come home feeling worn out from having given it my all.

The non stop panic of investors selling, selling, selling, selling, selling, selling, selling, selling, selling, selling, selling, selling, selling, selling, selling, selling

and the questions, and the doubts, and pain, and the fear.

People are losing large portions of their nest eggs in days, and they are genuinely scared.

I've seen bear markets before, but this one is laced with a level of distrust that I have never seen before.

I come home and walk to the bedroom, and crash.

Like the market itself, I need a bailout.

I've been considering looking for work elsewhere, and I'm quite serious.

I think maybe I'm too old for my position. Just too old.

Let the twenty somethings burn in the crucible of human madness, and arise from the ashes each and every day anew to fight what comes their way.

In the meantime I went back on my blood pressure pills as I was feeling scared of stroking out.

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