2 thoughts on “Dow plunges 800 points

  1. I confess to similar thoughts. But as to “building a world where the deck is not stacked”… I assume that will be done by a batch of new, more enlightened humans than the current crop?

  2. Good.
    Good, good, good, good, GREAT.
    Speaking as a member of the creative class, who makes a living by designing and building actual things that make peoples’ lives better, I approve of this meltdown. This aspect of our society deserves to die a slow, painful death, and we as the erstwhile beneficiaries deserve to lose a bit of ourselves along with it.
    This whole racket is based on the Machiavellian manipulation of value and a cynical attitude towards human nature. Credit default swapping is a bet made that people will not live up to their own inflated expectations to stay in business. It’s a dividend on misery and failure and it is wrong, wrong, wrong.
    This is repugnant when used with companies doing actual creative work. But, oh, the sweet irony when the very financial institutions that once benefited from it are now the ones on the losing end of the proposition. A chain reaction of failure where the artificial value of their 10x leveraged wagering smacks head-on into a brick wall named real life.
    I feel happier calmer, more centered today than I have in months. What could make me happier would be for the downward spiral to continue on the path of total destruction. Then, we can begin the work of building a world where the deck is not stacked, where creation has more value than manipulation, where graft and cynicism is not business as usual.

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