2009: Cribs foreclosed upon and Europe sulking

March 8, 2008

Five cents won’t even buy you a spoken paragraph of no particular value in Bablion. So consider yourself lucky that you found me…

What comes around, goes around. I imagine that as European confidence swelled over the over-valuation of the Euro and the falling of the dollar, Europeans seemed to forget two things: they had huge investments in the US credit markets and Americans were outrageous consumers when the Dollar was stronger. If you don’t believe me- just take a look at MTV’s reality television show, Cribs, about typically overly-decorated and super-sized, celebrity homes. Perhaps, Jon Stuart can follow up on the MTV hit with Cribs in Foreclosure soon.

The alpha Bush and a little humor from the Simpsons (below).

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A Brief History

The Great Depression is said to have begun on Black Tuesday, October 29, 1929 (a.k.a The Wall Street Crash of 1929) when over-valued share prices on the New York Stock Exchange collapsed and began what would be a month long fall in which the Dow Jones Industrial Average (DJIA) was down 182.57 from the booming speculative highs of 1929. The Great Depression is associated with a grinding slow down of international trade, manufacturing and construction. Personal incomes, tax revenues, prices and profits fell as unemployment, social uneasiness, and fear gathered momentum. It is also associated with private mortgage debts, commercial business debts and a great inequality between the rich and consumers.

The stage for World War II was set into action.
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