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A new smell test in the West

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New York Stock Exchange, New York City.
Image via Wikipedia

The air in Dalian buses can get “high”, or rank!

So these days I am more aware of smell tests than ever. The headline of this article seemed to imply a forthright defence of “free enterprise” as it’s been done for the last 30some years, but I was agreeably surprised by the ending paragraph:

“As inequality grew in America over the past 30 years, there was always the risk that it would snap back violently and dramatically. That day is not yet here, but it’s closer than it has ever been, and its possibility cannot be discounted. Barack Obama smells the public mood, and is trying to respond to it in a grown-up and non-incendiary way. Congress smells it too, and is being rather less grown-up about things. And Wall Street still largely remains inside its bubble, watching the tour buses on the outside with fear and incomprehension. But unless some very senior executives start smelling the coffee sharpish, they might end up facing the biggest tail risk of them all.”

My family is paying for this crisis now since my wife was laid-off from a modest inroom server job with a well known Casino hotel in Richmond, BC. So we feel the pain and the temporary anger. But life does go on and you got to deal with whatever is happening as best you can. The cash economy is more important than ever. Forget leverage, for now I guess!!!

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Written by BobG in Dalian & Vancouver

2009/03/23 at 15:09

Posted in choices

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