$93,000 for a bottle of wine
A Chinese bidder just bought a bottle (six liters, but still – just a single bottle) of wine for 93,077 dollars. Is anyone else getting a déjà vu?
Now that the papers are starting to cautiously toot the “all normal” horn again for the economy, I am left wondering what has really changed. Sure, a few banks and insurance companies went belly up, but their business was picked up by other actors. The corporations that had to be bailed out with billions of dollars are now, one year after teetering on the brink of bankruptcy, once again awarding themselves huge bonuses. And economists and business leaders are still being interviewed with reverence, as if they have the slightest idea what’s going on.
There is much talk about nothing ever being the same again after this “unprecedented” crisis, but to me things seem exactly the same. Sorry.
posted by Henrik Harr @ 8:10 AM
2 comments
2 Comments:
Things are basically exactly the same...but my 401K is half it's size from a year ago and the unemployment rate is over 10% in California and 17% in Michigan.
On Wall Street things are the same, but on Main Street I don't feel the same confidence in making that statement.
I smell your pain, and this is the tragedy of nothing changing. Eventually, though, corporations will realize that they need shopping "seniors", so your 401K will bounce back by the time you're 64.
What makes me sad, though, is the alarm clock that this recession was said to be has had no effect on the way business is being done. Greed still rules, and humanity and community are just as scarce as before. So what now? Revolution?
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