Witness the continued downfall of major US money-lenders through my favorite news-spots online tickers, I have begun to realize what a mystery this business of banking really is. Billions of dollars have been lost – How? Where on earth did such a large amount of money disappear to so quickly? I realize the answer to this involves a complex web of transactions in which money is collect from some and given to others and somewhere within the process others still make (or at least used to make) a profit somewhere along the way. So when billions of dollars have been lost I am a bit baffled that the world keeps on turning with the only immediate impact being bad days on Wall Street. Naive – yes, very. I would add that I am also earning a low enough income that if it weren’t for the media’s relentless coverage I would not know that billions of dollars have disappeared spurring a national ecomonic crisis or sorts because such a loss doesn’t seem to effect my daily life in any significant manner – which I can appreciate. However, I find it hard to imagine how the loss of such great sums of money can be unnoticeable by anyone. A mystery indeed.
September 18, 2008
show me the money
Posted by mountainink under Ramblings, Unsolved Mysteries | Tags: business, economy, money, mystery, Wall Street |1 Comment
September 21, 2008 at 11:52 pm
It’s crazy, isn’t it? And of course it’s up to all of us to bail them out. Sometimes it feels like we pay and pay. Is this what capitalism is all about? What about survival of the fittest?