couldn't reach my investment advisors today. The reasons were understandable and valid. First, it's the holiest of holy days in the Jewish calendar, the day of atonement, and most would be fasting and praying this Yom Kippur. For those at work they were, probably, weary of advising worried investors that now was a time to buy rather than bale out. But there must come a time. This is, exactly, the first anniversary of the highest peak ever reached on the stock market. Just a year to the day. Now we are back to where we were years ago. It isn't the end of the public's concern, growing anger and mounting fears. The dis-ease that we are feeling has spread to markets around the globe.
I was caught in traffic coming home this afternoon; traffic which seemed lighter than on most work days. I felt uptight and frustrated and, was it my imagination, it looked as if drivers were a little more white-knuckled than usual.
Dr. Hans Selye of Harvard, a world renowned expert on stress, once told me that there were three kinds of stress; good stress which he called "Eustress", bad stress which he termed "dis-stress" and no stress, which he informed me was "dead".
This evening we must make the decision, and it won't be easy, should we afford to stay invested in this collapsing market and watch the savings drop unacceptably, or do we get out now and hate to hear how much we are financially diminished.
There are so many reasons for the perfect economic storm of our time, but lest we forget, each and every day this nation has to raise over $2 billion from foreign creditors. Just to cover our annual trade deficit we have to borrow or sell off assets totaling $700 billion each year. Where does it come from? The central bankers of the oil-rich autocrats, the central bankers of Japan and China. Here's a fact that is indicative of our situation, believe it or not, Mexico now exports 50% more cars to the United States than we export to the entire world.
So we have reached a stage where many other growing countries export goods, we continue to export jobs and debt.
A word for our soon to be out-of-office President Bush: during your eight years in office wages and benefits declined in this country and now it is estimated that fully 20 million jobs are at risk.
Alana is out at physical therapy so I am alone in the house with the Australian Border Collie and the newest member of the family, the King Charles terrier. They are both seated next to me, keeping me company. Why do I think and believe that they know how I feel: Angry.
Here's to a more enlightened leadership, soon.