From Wikipedia about the dot coms
http://en.wikipedia.org/wiki/Dot-com_bubble#Soaring_stocks
"The Dot-com bubble crash wiped out $5 trillion in market value of technology companies from March 2000 to October 2002."-
"Some believe the crash of the dot-com bubble contributed to the housing bubble in the U.S. Yale economist Robert Shiller said in 2005, “Once stocks fell, real estate became the primary outlet for the speculative frenzy that the stock market had unleashed. Where else could plungers apply their newly acquired trading talents? The materialistic display of the big house also has become a salve to bruised egos of disappointed stock investors. These days, the only thing that comes close to real estate as a national obsession is poker"
Tuesday, November 18, 2008
Sunday, November 16, 2008
Why Share The Pain?
Why dwell on this? This is an event whose affect on me has been both sobering and significant. I'm no economist or fiscal intellectual. Just an average person who awakes up each day to find that his world much less stable and a lot more fearful. So I decide to look at this situation head on. And while there isn't much humor in it, hope to leaven this dark stuff with as much humor as I can. So follow me now as I sift through the majestic wreak of failed business, bizarre economic formulae, trashouts, resort spa conferences, greed and just plain bad decision that have brought us to the brink of economic collapse. Welcome to the new age!
Cashout
Here is a partial list of banks, from the FDIC(Federal Deposit Insurance Corporation) that failed in this year economic meltdown. Borrowing money just got a little less easier.
Failed Bank List | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Subscribe to:
Posts (Atom)