US shares plummeted again last night as fears that further, frantic efforts by governments to halt financial turmoil will fail to stave off global recession triggered another punishing slump in stock markets.
As panic over the danger of financial and economic meltdown swept Wall Street once more, the latest 7 per cent plunge in the value of America’s blue-chip businesses piled pressure on world financial leaders gathering in Washington today to take yet more drastic measures to avert disaster.
I dunno. Seems to me the disaster is already occurring. There’s a procedure for business failures. It’s called bankruptcy. So if we’re already in the trough, perhaps not at the bottom but pretty far down, perhaps we should consider letting it roll. Perhaps, in fact, we should have considered this some years ago.
Meanwhile, I am looking forward to working for $7 an hour for some years rather than traveling as we had intended. But we can cover our house expenses, unlike many people in our area who bought mansions now in foreclosure.