Tuesday, January 6, 2009

History Repeating Itself

Are these times mirroring the Great Depression? For those who remember the onset of that era, it was started by the stock market crash in 1929. After that, there were massive amounts of suicides with people literally tossing themselves out of windows. Recently, we are starting to see similar actions in response to the current financial crisis.

It was reported a week ago that one of Madoff's larger investors committed suicide because of that fraud which cost billions. And, just yesterday, one of the world's richest men, Adolf Merckle, stepped in front of a train thus ending his life. All this because he could not stand to see his financial empire collapsing around him.

Folks, this is just the beginning. We are going to see many more people end their lives over the current state of affairs. Those who get accustomed to "easy street" often cannot handle the prospect of living so luxuriously. We see this in every generation. Financial problems are the cause of many health, marital, and self esteem issues. Being broke for many after having money is worse than never having money at all.

It will be interesting to see if the next few years mirror those of the early 30s. If the first 6 months of this financial crisis is any indication, it seems we are in for similar circumstances.

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