The stock exchange opens

Gary MacLennan g.maclennan at qut.edu.au
Mon Sep 17 08:11:57 MDT 2001


I am about to go to bed.  I stayed up to see the drama around the Stock
Exchange opening.  It was an eerie experience in a very kind of post modern
way.  Thus once more God was asked to bless America in words and music
penned by no less a true believer than Irving Berlin. Even our hymns come
from show business.  Then the worker-heroes were allowed into ring the
bell. Much cheering from the traders.  That however will be as close as the
working-class gets to the wealth of Wall Street.

As I wind this up I am interested to note that the struggle between
patriotism and self interest has been resolved in favour of the
latter.  Despite Greenspan's rate cut - the market is heading down.  The
experts are now forecasting a "technical recession" for the USA. We shall see.

regards

Gary

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