Results tagged “economy” from Ye Olde Rad Blog III

I know a guy who used to make serious bank. He always seemed to have a wad of broccoli handy. So it surprised me to learn he's now living in a ditch.

Homeless man"Where ya been?" I asked, running into him recently. (Hadn't heard from him in months.)

"I moved," he said. "Where to?" I inquired.

"I'm living in one of the most exclusive neighborhoods in San Clemente," he boasted. "Presidential Heights. Not far from where Nixon used to live."

[ I used to live in San Clemente myself, just off Buena Vista, a stone's throw from the beach there, and walking distance to the pier. So I'm familiar with the area. ]

After sharing how his global Internet-based business has been taking a beating, and how he began having trouble making rent, he described how he threw everything into storage (for $55/month) and moved to a "secluded ravine" he'd discovered while surfing nearby.

"I arrive shortly after sunset," he explained regarding his new routine, "and park about a hundred yards away. To discourage hikers, I've moved some brush across the path. I have a sweet little spot, complete with Thermarest pad & sleeping bag. I fall asleep to the sound of the ocean every night."

While showing me a video of his "new home" (recorded on his cell phone), he continued, "A blue jay wakes me every morning. I feed him peanuts."

After an early morning aerobics class (where he showers afterward), he heads off to the library where he begins his work. But while he was in the restroom last week, some kids stole the memory from his laptop.

Frontline is airing a special tomorrow (9PM, May 12th) titled » The Madoff Affair. Should be an eye-opener.

A statement Madoff made in court following his arrest caught my attention cuz it reflected my impressions of the Wall Street culture .. (after I watched » Inside the Meltdown) .. that it seems like everything on Wall Street is about turning a profit .. at any cost .. regardless of the suffering & misery their actions might bring to countless Americans. And that enough is never enough.

Bernie MadoffHow can $50 billion not be enough? That's billion with a 'B' .. as in » $50,000,000,000.00 .. enough to turn 50,000 paupers into millionaires .. 25,000 hobos into multi-millionaires. Feed the hungry (steak & lobster for a lifetime).

Madoff's comments confirmed my impressions .. (nearly word-for-word) .. tho this mindset is difficult to understand, cuz life is short and (very obviously) no one gets out of here alive.

And I dare say he's not the only one. Madoff is merely the poster boy for Wall Street greed.

What kind of dysfunction drives such a culture? Hard to believe that greed alone is responsible .. and there are not more serious psychological defects at play.

Statistics suggest 2008 was the worst year most Americans can recall .. with stocks posting their biggest annual drop since the Great Depression. (Only 1907 and 1931 posted bigger negatives.)

Family of the Great Depression, liberated from a sense of futility

People who work with such statistics seem to agree things will likely worsen before they improve. Exactly how much worse is, of course, the source of much speculation. (Because nobody knows for sure.)

From what I've gathered (in talking and listening), most people are hoping for the best, but "preparing for the worst," which means they're buying nothing but essentials (.. further depressing the economy).

Might be worth noting that the worst year most Americans will ever see would still represent the best year for people living in many other parts of the world. So the terms 'worst' and 'best' are relative. (Important we maintain perspective.)

Interesting that (as someone recently noted) bin Laden's aim in targeting the World Trade Center towers was to criple the US economy .. (cuz that's how they defeated the mighty Soviet Red Army in Afganistan).

Another thing I find interesting is that everybody now claims to have seen it coming. Even at the coffee shop, I hear people saying things like, "Everybody knew this was coming. No big surprise."

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