02 October 2008

Additional Reading On The Financial Crisis

Dead National Post Link

And for the record, recessions are part of a market economy. They WILL happen. The market will correct itself when things are either too cheap or too expensive. This causes little ups and downs in the market. These are aptly called, "market corrections". The longer you prevent a correction on the price of a good that is mis-valued, the larger the correction will be.

I am also recently reminded that many of the same people who cried, "return of the great depression," when the dot-com bubble burst are the same people crying the same thing today.

Also, for the record, the 7% drop in the DOW Monday was actually the 17th largest drop in the DOW (by percentage), not the largest. Just like movie receipts, they keep forgetting inflation affects the value. Yes it fell 800 points, but those points are much smaller than those of 1950.

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