Previous | Next :: Last Person Out Please Turn Off The Lights : Wall Street : NYC | October 9, 2008, 10:48 pm

Whether you are speaking in Arabic, French, Russian, Icelandic, German, Mandarin, Italian, Swedish, English or what ever........... Economics seems to have pretty well the same meaning to all........... Deutsche Welle Radio the German broadcasting network that broadcasts in 30 languages was airing a piece showing a Chinese woman living in Beijing who had invested her life savings into the American Banking institution Lehman Brothers ........ She has lost her retirement money with its collapse....... This is a terrible reminder of the possible downsides of globalization ......... sadly the poorest people will inevitably suffer the most ....... Clearly the collapse of Lehman Bros does not only effect the billionaire executives that ran it.......... Now the markets are still dropping losing another 7% today alone....... The wheels seem to be coming off the worlds financial system....... Apparently the exposure of the top British Banks and the Swiss Banks in hugely greater than their entire countries GDP............... hmmmmm tricky.

Cheers Jez XX

Cheers Jez XX