Image via Wikipedia Things aren't pretty in the financial industry in the US these days. Everyone is now getting very nervous. Market fluidity is at risk as nobody wants to lend money to anyone else for fear of not getting their money back.
I can't help but think again of the Michael Moore movie "Bowling for Columbine". "Culture of fear" among other things - is the message that resonates for me in this movie. When we're in fear, we're easy to control, that's the theory. The medias are pushing this motto to its limit in the spirit of keeping us informed. Everyone trying to outdo every one else with more and more impact full headlines.
So now this morning with the Lehman brothers bank going under banckruptcy protection. It's very bad 600B in debt will go nearly unpaid, so many banks will be left short.
Listening to the radio this morning - we're set for another 1929 depression. I don't know what the impact of Lehman brothers filling for bankcrupty in long term will be. I know that the media have my full and undivided attention about the subject now.