On my 14th birthday, the stock market’s crashed. It was a big day for me. My Gran and I got on a plane at Momona bound for London and we arrived to headlines about yuppies driving their Porsche’s off London Bridge (that trip was also memorable as we had been in Kings Cross Station only hours before the fire).
There is panic in the markets again today. And while the lawmakers rejected the US$700 billion bailout plan, I do think they will find a way to rescue the US financial industry. Because the alternative is to let the market ‘adjust itself’. And that potentially means the buy out of hundreds of US organisations, including the banks and insurance companies. And the only people that have any money right now are oil rich countries. In an ironic and somehow, just way, capitalism has shown it’s on weakness, making terrorism unnecessary. They won’t have to fly planes into buildings. They’ll just buy the company.
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