Where is a good place to find a job if you’re the nervous type who panics easily? At the moment, the perfect place would seem to be the stock exchange.
While money markets were ticking over nicely, the boys and girls on the trading floors were giving themselves fat bonuses and congratulating themselves on their monetary flair.
Now there is a credit crisis in America. This was caused largely by greedy boys and girls lending money to anyone who wanted to buy a house and then selling those unavoidable debts to other greedy boys and girls.
America is not yet in recession but the talk today is of bloodbaths and nervousness. Result: stock markets around the world have plummeted.
Surely when faced with your biggest fear, you stand firm and face it down. Not so the boys and girls responsible for our hard-earned savings and pensions.
They will tell you it is understandable to give in to what they term a rational fear. In other words, they panic and shares slide around the world.
It looks to us outsiders like a self-fulfilling prophesy. Is there the possibility of a recession? Let’s talk it up and destroy any confidence left. Are shares falling? Let’s panic sell and make things worse. If you’re not an economist you want to shout: get a grip on yourself.
This is a time for cool heads, not nerves.
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