9 Responses to Mother of all Mondays?

  1. bhupinder September 15, 2008 at 6:03 pm #

    As the ‘hidden hand’ of the market is bloodied, the not so hidden hand of the state is there to help out the banks. While the profit that they made was private, the losses will be socialized with billions of $s going from the state (taxpayer’s money) to bail out profit seekers. Noam Chomsky correctly called the US the land of the “socialism for the rich”.

  2. jay September 15, 2008 at 11:11 pm #

    bvn,

    there you go again, agitating. grumph buddy, u can’t doubt good old milton’s place o’er a few hundred billion. 🙂

    http://www.blogmaverick.com/2008/09/15/stock-market-meltdowns-why-they-will-happen-again-and-again-an/

  3. nishanth September 16, 2008 at 2:43 am #

    There is more on way… Great Britain banks are slowly feeling the sand drain from under them. The Western Economy is no longer a lion..well, it will be an aged, toothless lion in a few years time .

    And for the ‘more bad news’ there seems to be a good news in the horizon. The Home minister seems to be on his way out.. 😉 WHEW!!

  4. BVN September 18, 2008 at 10:19 am #

    Bhupinder, guess the point is once you’ve grown to a level where you can pull down the system if you fall, the system bails you out; simply put you can gorge like a mindless beast 🙁

    Jay, i’m reading millu uncle. hey nice link btw

    Nishanth, short term its bleak, rather scary. But the US is one place where companies reinvent themselves and emerge more compettitive. I wouldn’t generalize. But this is BIG!

  5. Sreeram.H September 18, 2008 at 1:21 pm #

    Who is John Galt?

  6. BVN September 19, 2008 at 12:30 am #

    hehe, alla, where the F*** is John Galt?

  7. Payyan September 20, 2008 at 8:34 am #

    They are talking abt half the banks disappearing into mergers or history… this is one crisis that the whole world is gonna worry about for a long time to come… and during that time, dont look east… look middle east…

  8. Naga September 21, 2008 at 11:05 am #

    Try this article by Swaminathan S Anklesara Aiyar, a regular Sunday Times columnist.

    Interesting to note that they are calling it “forced restructuring by the government”. I always thought the socialists/marxists/communists used these typical terminologies to explain the inexplicables!!! (Remember ‘Sandesam’)

    http://timesofindia.indiatimes.com/Opinion/Columnists/Swaminathan_A_Aiyar/Swaminomics/Is_America_becoming_socialist/articleshow/3508073.cms

  9. neermathalam October 6, 2008 at 8:26 am #

    I still stand with awe infornt of all isms..
    But communism and capitalism…in its extremities doesnt solve any issues…Am I congress then the centric left…I dont know..still i wish i could join Chicago school of Economics..
    :)..
    And i wonder can i blame any isms for human greed and veenduvicharamelyayama.No regulation stopping innovation is acceptable but what is the way out….I just know only a few questions…no answers..And yes..credit crunch started from vidarbha nobody cared…because the suicided farmers were noway related to us.
    But it pinches when our house loan rates are increased..Both where nothing but credit crunches that is affecting two different target audience.
    enthe kai chuttappo…700 billion$ veliyil vannu atre ullu…may george bush dont make america india of 70’s which was full of venu nagavallis and jalajas..:P
    Is it a butterfly effect of farmer suicides causing Wallstreet turmoil..(arum angine oru abhiprayam parangu kandilla…:P)..

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