For those paying attention to the remarkable slide of the Dow Jones Industrial Average (10,766 last Friday and 8,635 today), which comes after a colossal amount of money was given to Fannie, Freddie, AIG, and certainly not you and me, there is thankfully one website you can check on until we reach the inevitable economic apocalypse — a period that may be referred to in the history books as The Greater Depression. Or perhaps The Greatest Depression on Earth!
I’m tempted to bet money on whether or not the market will collapse, but my currency may not be around long enough for me to claim my earnings.
Incidentally, we’ll be celebrating the 79th anniversary of the 1929 Wall Street Crash in a couple of weeks. And looking at the eerily similar graphs of that year, perhaps we’ll be “celebrating” in more ways than one. If there’s a bump next week, followed by a plummet, well then you can’t say that history doesn’t have a way of repeating itself.
And David Kipen refused to consider my Federal Writers Project idea.
© 2008, Edward Champion. All rights reserved.