While typing up my October 2008, daily journal recently, I came across this news item which I had copied because it seemed to be a very good analogy for the economic meltdown which was everyone’s main concern last Fall. Luckily, the news these days, eight months later, is only partially-filled with financial-calamity stories, so maybe things are tapering off. But while we get back to normal, families of folks like these mentioned below, or developers whose big downtown Tampa condominium dreams are never going to happen now, like the ones I read about in today’s newspaper…know that they’ll never really recover from a fast-track that got suddenly stopped dead in the water.
Here’s my journal entry of October 10, 2008:
“A dreadful, but entirely preventable, accident was described on the computer last night and it seems to be a perfect illustraton of this massive economic tragedy unfolding so rapidly here at the end of 2008. A man and his girlfriend set out from Los Angeles at midnight in his big motor launch, headed for Catalina Island. At some point, their speeding boat smashed directly into the side of a well-lighted supply barge being towed back to the mainland from the island.
The boat sank in 120 feet of water and the next morning, divers located and raised it. Both bodies were down below. They were, supposedly, experienced boaters. What happened? Did the one on duty confidently lash the wheel and disappear down below for some reason, thinking: “Oh, it’s a big sea. There’s nothing between me and my goal. I can get away with this!” So, he cut corners.
For me, that accident illustrates what has just happened in the money affairs of the world. Bloated, criminal, and over-confident, many were playing fast and loose with economic principles and raking in a killing without caring who they ran over to do it.
Turns out that no one was steering the ship and suddenly, nature has taken over. Consequences have finally snapped into play and everyone aboard finds themselves financially dead and mangled at the bottom of the sea.”