So I would consider my professional career 6 years old. It wasn't that long ago i was waking up up in a certain yellow house to the smell of stale beer, crunchy brownies and egg sandwiches. In the past 6 years i can honestly say the past 3 days have been the most interesting part of this thing I'm calling a professional career. I thought I'd post the def. of a Financial crisis for everyone.
Do you think we're in one? We've only had 1 major bankruptcy, one Fed bail out and one fire sale, and today is only Wednesday. We still need to make it to Friday. Did anyone see what the market did today? In case you missed it, IT FELL! In case you don't care, that's like saying I don't if Gas is $8 a gallon. Hey why not?
Stu not worried........
Financial crisis
From Wikipedia, the free encyclopedia
Jump to: navigation, search
The term financial crisis is applied broadly to a variety of situations in which some financial institutions or assets suddenly lose a large part of their value. Until a few decades ago, many financial crises were banking panics, and many recessions coincided with these panics. Other situations that are often called financial crises include stock market crashes and the bursting of other financial bubbles, as well as international phenomena like currency crises and sovereign defaults.
For an easy explanation of this mess, check out the link to this article. i thought it did a good job of explaining the situation, albeit over simplified.
http://money.cnn.com/2008/09/17/news/economy/housing/index.htm
2020 RRCA Club Challenge Ten Miler
5 years ago
2 comments:
STU, your post confuses me as much as the latest crisis.
You say, "Financial Crisis? You better believe it," stating that we've had all these collapses and a falling market, then you say...
"Stu not worried........"
In between, you don't give us your professional analysis that leads you to indicate why you have faith in the market's resilience (if that is, in fact, what you think).
SNOW requests an edit to provide more edu-ma-cated STUnalysis!
http://www.washingtonpost.com/wp-dyn/content/article/2008/09/17/AR2008091703834.html?hpid=topnews
Great explanation about what brought us here and how we might move forward.
Post a Comment