A serious look at economics, political science, social psychology,and global events and how they tie together to bring you the unexpected truth.
Monday, August 8, 2011
$2 Trillion lost in the Markets Today
Oh my goodness! Were you watching the market today...? The Dow Jones dropped 634 pts. the biggest daily loss since 2008. The S&P drop over 6% with Bank of America down 20% today. The markets around globe fared as least as bad. What does the future hold? Some say that this sell-off was nothing but FEAR. Wilbur Ross stating that most markets around the world were down 10-15%, yet the world has not gotten worse or changed in the last 48 hours. He says the only thing that has changed is perception. Nevertheless, perception is a very important predictor of how the social influence will work to make that perception a reality. Is the U.S. losing it's prestige around the globe? Are we on an unsustainable fiscal path that might change our way of life? Have we become compromised as a world super power? I believe it can be summed up by an old Dylan song: A Hard Rain is Gonna Fall.
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