Shortly after Dredd Blog blogger "disaffected" indicated concern over the financial situation in Greece, along with the effect it could have on world markets, the stock market plunged 1000 points in less time than it takes to drink a cup of Java.
Many analysts could not figure out what was happening as millions suffered loss on 401k accounts and the like.
There was rumor of a suspicion that a broker did a typo causing a sale of 10 billion Proctor & Gamble stocks instead of 10 million, which then triggered a panic.
It reminded me of a Dylan song lyric which explains many of our financial woes:
The pump don’t work(Subterranean Homesick Blues, Bob Dylan). As I began to wonder how that 1000 point drop could possibly happen, I began to think about another lyric in that same song:
’Cause the vandals took the handles
You don’t need a weatherman(ibid). It is the Deepwater Horizon syndrome that caused a recent disaster in the Gulf, the one on Wall Street, and the one on Main Street.
To know which way the wind blows
The Wall Street gang members are so smug about how well their system works, using their rear view mirror technique of driving (belief that the past axiomatically dictates the future) they can't see the dangers ahead of them that are only visible when looking out the front wind shield.
One would think that software on their computers would catch and flag an entry that was orders of magnitude out of whack.
I mean the free software of this blog, and most others, immediately catches and flags misspelled words and alerts the typist to that, then to better even that, offers the correct spelling.
Are we to believe that zillion dollar software of Wall Street can't detect the difference between 10 billion and 10 million, then alert the typist?
Something like "are you sure you want to sell 1000 times more stock than what you have to sell?" might do the trick.
We don't need a weatherman to know that the Deepwater Horizon syndrome is a danger to our civilization, or that it is also avoidable.
Mad men, mad women, good men, and good women alike make mistakes, but we can do better than allowing those mistakes to cause unnecessary disasters.
The Saga of Deepwater Horizon and the graft of the Plunder Barons goes on.
It is difficult to know what really happened, but we don't need a weather man to know that neither scenario is good enough for prime time.
It is not good enough that the market recovered eventually, to limit the loss to the three hundred range, nor is it good enough that "only" a million birds and other wildlife may die if they fix Deepwater Horizon soon.
The glitchy, drilly, warster way of doing things must cease to be the standard, so meanwhile let Bob Dylan finish this thread:
I’m on the pavement(ibid) ... with the Subterranean Homesick Blues, and like many of us, I have "gone to look for America" (Simon & Garfunkle).
Thinking about the government