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16 March 2008 @ 12:16 am
It has begun  
Looks like Bear Steans, unless they get lucky, is going bankrupt.

The next Great Depression, courtesy of Saint Reagan's financial deregulation in the 80's and Republican economic policy, or perhaps "only" a rehash of Japan's Lost Decade, which was also caused by a massive real estate bubble?

Only time will tell.

Edit: I found this chart on RPG.net. Looks like most of the stock market gains of the last five years have been only "gains" in the sense that the dollar dropped but the value of stock went up slightly.

Edit edit: Looks like JP Morgan bought Bear Stearns at $2 a share. That's roughly 1.5% of its value as of last year. Good deal, eh? Also, the Fed cut the interest rate again. Massive inflation here we come, eh?
Current Mood: worriedworried