Sep 18, 2008 09:41
Went down to Clear Lake yesterday to discuss issues with some storm chasers and property managers. The was no power in the town, nor any open restaurants and almost everyone had one to four 5 gallon gas containers. Thank god Austin is 200 miles away from the coast. At any rate it is amazing the sheer volume of money being laid down there and how fast it is getting sucked up. As much as I abhore the life style of the storm chaser I totally understand the desire to make a lot of money very quickly.
In the past when I'd come back from these journeys I would have to go out and grab a drink when I got home. I'm not quite sure whats has changed, maybe its the overall stress maybe its the social thing... who knows. At any rate, I went to bed around 10pm out of sheer exhaustion. Well, of course, because not everyone knows about my little vanishing act I start getting calls almost as soon as I hit the pillow to go out. The last one comes in around 2:20am as a text message from a number I don't even know.
oh, never mind, this is silly.
The financial crisis has me rather irritated. The bankruptcy of Lehman's and the bailout of AIG because of the bankruptcy of Lehmans? This is getting crazy. I'm no socialist but this failure of risky security trades was predicted almost ten years ago with ardent warnings of the dangers of unbridled Capitalism. Have we learned nothing? What's the worst that can happy? A new depression, and that is not fear-mongering. How about we try the novel approach of backing our investments with actual deposits, as the Asian markes learned to do after the 90's bust. I'm just saying...