Free Market Economy
Not in one anymore.
Consider this: This is the first time in my lifetime, as well as the lifetimes of everyone in my generation, that we are experiencing something very, very BIG (financially)…or as Warren Buffet put it…
“We are facing financial Pearl Harbor”
The real effects or magnitude of this situation are still incomprehensible to me.
Once this bailout officially goes through, which it will, the financial industry will never be the same. The private sector will never truly be private (at least not for a while), and a socialist economy will begin to take shape.
Individuals with real ingenuity and innovation in the financial markets, along with strong ethical and moral values will spark new oppurtunities and blaze a path that will hopefully bring us back to that free market.
These heroes will most likely come from my generation, and hopefully, they will not succumb to exploitation tactics in search of quick riches.
I hope those heroes come sooner, and I hope those heroes make their way to leadership positions within our government.
I was curious to see what the markets looked like from the year I was born (1985) until today. Below is a snapshot that displays General Motors, S&P 500, Nasdaq, and the Dow Jones Industrial Average from 1999-present day.
No analysis here. Too busy contemplating the future.