Once again the coast of the Gulf of Mexico is proving to be a dangerous place to live. Of course there are problems no matter where you live, but it certainly seems as if our coast lines are getting hit especially hard in this the early 21st Century.
As if Ike didn't cause enough trouble over this weekend there seems to be some serious news coming from our financial markets. The big boys of mortages and investing seem to be in serious trouble. The weather is causing serious trouble though rather than a dust bowl we have hurricanes causing major problems for people.
All in all I find the parallels between the 1930's and today truly alarming.
For those of you who don't know much about the Great Depression here is a site that offers a good overview.
The Main Causes of the Great Depression
http://www.geocities.com/CapitolHill/Senate/6854/greatdep.html
I think reading this piece and comparing the statistics between and now might be enlightening. And frightening. The imbalance between the average person's income and the very wealthy may be even worse now than it was then.
7:15 am Someone on ABC just described the Lehman news as Armageddon. she then goes on to say this does not effect the average bank in the US. I'll agree to that, but I think it is ultimately going to cause all of us great concerns about our financal future.
One important lesson for the average person from the 1930's is probably that, as far as investments are concerned, don't just do something-stand there.
Lazy Trainer Tip:
At the moment doing anything is apt to be the wrong thing. My advice, hunker down and play the wait-and-see game. This is not the time to be making crucial decisons.
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