Economics 101
I've been reading Pat Conroy's book "The Water Is Wide," and I'm thoroughly enjoying it! Today I read a few pages about how hard it was for him to navigate his boat in the Calibogue Sound in the midst of dense fog! I can't imagine how hard it could be. It was just a little foggy here in DC this morning; and we certainly slowed our traffic speed as a result. But when the fog lifts it's easy to see again.
Wall Street scrambled these last two weeks. Markets dropped precipitously, only to gain again on the promise of "rescue" or "bailout." Market value lost; market value gained. It's hard to know what it all means. (On my "SALT Blog" at work, I've discussed more about what it means from a business perspective; but here I'm more personally reflective.)
I think what strikes me about the last decade or so is this. How quickly the mighty can fall! Riches and Power are both temporal -- and sometimes very so!
In the last decade, I've watched the rise and precipitous fall of Enron, Ted Haggard, MCI, Bernie Ebbers, Andersen, Eliot Spitzer, Bear Stearns, Merrill Lynch, Lehman Brothers, Kenneth Lay, Marion Jones, Ben Johnson, and Floyd Landis. (I stepped back in to edit this post on 12/16/08 to add Bernard Madoff and Illinois Governor Rod Blagojevich to the list; I re-read this post on 1/25/11 and now add Tiger Woods to this list, and yes there are others, but his fall last year was from a truly precipitous high. I also forgot Richard Scrushy in this list).
Others have had their 15 minutes of fame; and some extend those 15 minutes to 15 years. But then what?
And that -- I think -- is the takeaway point. There's something worth living for -- but it's not money, fame, or power. They disappear quickly, just like this morning's fog.
*** *** ***
Chewy turns 10 tomorrow. Wow, is it ever hard to believe!
Wall Street scrambled these last two weeks. Markets dropped precipitously, only to gain again on the promise of "rescue" or "bailout." Market value lost; market value gained. It's hard to know what it all means. (On my "SALT Blog" at work, I've discussed more about what it means from a business perspective; but here I'm more personally reflective.)
I think what strikes me about the last decade or so is this. How quickly the mighty can fall! Riches and Power are both temporal -- and sometimes very so!
In the last decade, I've watched the rise and precipitous fall of Enron, Ted Haggard, MCI, Bernie Ebbers, Andersen, Eliot Spitzer, Bear Stearns, Merrill Lynch, Lehman Brothers, Kenneth Lay, Marion Jones, Ben Johnson, and Floyd Landis. (I stepped back in to edit this post on 12/16/08 to add Bernard Madoff and Illinois Governor Rod Blagojevich to the list; I re-read this post on 1/25/11 and now add Tiger Woods to this list, and yes there are others, but his fall last year was from a truly precipitous high. I also forgot Richard Scrushy in this list).
Others have had their 15 minutes of fame; and some extend those 15 minutes to 15 years. But then what?
And that -- I think -- is the takeaway point. There's something worth living for -- but it's not money, fame, or power. They disappear quickly, just like this morning's fog.
*** *** ***
Chewy turns 10 tomorrow. Wow, is it ever hard to believe!