Daibutsu, Kamakura

Daibutsu, Kamakura
Daibutsu in Kamakura, June 2010. There were thousands of school kids visiting that day. It was still great fun.

Tuesday, September 23, 2008

Epic Financial Crisis

The massive financial crisis in the US affects the entire world including Japan.

This quote below from MSNBC pretty much sums it up:

Our greed, folly and ineptitude are to blame. So is a willful refusal to acknowledge that there is no free lunch and that what goes up must come down. We have officially ruined what it took us a hundred years to build: the credibility of Wall Street and dollar-centric commerce.

We have seen this before in the Savings and Loan crisis of the 80's and other booms and busts.  But this is the mother of all examples of the incredible amount of greed.  It is disgusting, especially when we read about the corporate execs from these companies getting millions in bonuses or golden parachutes.  Sickening.

2 comments:

  1. I could definitely use a few more students and classes in Tokyo now! I hope people don't cut studying English from their budgets!

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  2. Worst case scenarios are that this financial crisis spreads around the world and there is a world recession. Already several banks in Europe are near collapse or have been bailed out by the government. But hopefully people in Japan will still want to keep learning English.

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