10/12/2008

Stocks: The Day the Music (America) Died

And in the streets: the children screamed,
The lovers cried, and the poets dreamed.
But not a word was spoken;
The church bells all were broken.
And the three men I admire most:
The father, son, and the holy ghost,
They caught the last train for the coast
The day the music died.


At soccer and youth football games
on Saturday and it seemed that everyone had the same take on the crises: Betrayal. All felt "taken" by the brokers and firms who kept telling them they knew the score even as their own firms were in deep trouble. Brokers lied to clients continually thinking only about themselves and their commissions. Lies. People like these have been basically ruined; college funds and retirement plans are basically gone. Many women will start looking for "real work" (the term many women used) next week because none of them see this market "coming back." My take is that their faith in the entire system of "work, enjoy life, save, retire" has been destroyed. It was an atmosphere of mourning in which sadness and anger dominated. This means Obama all the way and Democrats all the way and nothing can change things. I asked a rhetorical question within a group as to the political leanings of their brokers and firms. They all shook their heads; their brokers were SoCal liberals and not a right wing shithead in the lot. Makes no difference, you can see from their walks that all are carrying a heavy load. God is dead.

...So bye-bye, miss american pie.
Drove my chevy to the levee,
But the levee was dry.
And them good old boys were drinkin' whiskey and rye
Singin', "this'll be the day that I die.
"this'll be the day that I die."

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