Thursday, October 9, 2008

The aborted new world

Ok, five years of gains lost in Dow today.

Oct. 9, 2008 DJIA Picture

DJIA Early 2003-Oct. 2008

World leaders are scrambling to put an emergency rescue plan together, if they are responsible in any sense. If this crisis is eventually over and the world is finally saved, however, we won't be able to see a new world rebuilt on the ruins of today's financial/economical/political systems. In that world, maybe we can completely shake-off the bad characteristics of today's socio-economic system. If the rescue actions are successful this time, I believe the world is just an old one with may patches and there is still no long-run solution in sight since the disaster is not large enough to coordinate world leaders to work together and create such a plan. I just swing between liberal and conservative views these days.

In some sense, the Great Depression helped to form today's world and it run finely after WWII until, well recently, at least for the Western World.

Should we let the world fall apart and rebuild a new one or we would rather try to find a easy way to solve the current crisis and wait the next crisis to come around 5-10 years.

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