Tuesday, September 16, 2008

Wall Street Takes A Tumble

After a particularly bloody Monday on Wall Street and in Global markets around the world many are wondering what’s next. What I’m fascinated by are those who not only don’t pay any attention to the most recent developments but don’t think it affects them in any way. Example…a woman I saw interviewed in New York yesterday had a smirk on her face when she told a reporter that she doesn’t have any money invested in the stock market so she really didn’t care. When asked about all those who lost jobs she added….”most of them have money and will be just fine.”

More than seven years after 9/11 Monday brought the worst financial news since that tragedy and the big concern is that we might not have hit rock bottom just yet. Regardless of what you think what’s happening on Wall Street does have a major impact on just about everyone…directly or indirectly.

Of course I say this knowing that we go on with our daily routine and truthfully what we are dealing with at any given moment becomes the priority. Ask a mother of four in the morning trying to get her kids ready for the day what’s the most important thing to her and the answer is likely to be that everyone gets to school on time and she can juggle all their after-school
Activities and still have time to make dinner. We can all understand that and at times you don’t even have time to think about the big picture….a picture that is not very clear this morning.

Case in point. My daughter Alex plays field hockey for Toms River South
and last night they played at rival Toms River North. The game was scoreless and when it went into overtime the biggest concern I and most of the others in attendance had at that very moment was our team would score and send us home a winner. Fortunately for the Indians Rae Drach scored early in overtime and South prevailed 1-0. It didn’t make up for all the bad news of the day but it felt pretty good.

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