If you ask Obama he would say yes. This is the worst time since the great depression...
I had an interesting conversation with my coworkers this week. Over the past 9 years we have had the dot.com bubble burst, 911, housing bubble burst, banking industry stall + almost every other industry. Is there another time in history where so many things happened to the market in such a small span?
Certainly we've had other things like Vietnam, the gas shortage, recession of the early 80s and early 90s..but that's 30 years.
It was postulated that the reason why it's been so condensed is not because times are worse or because the world is coming to an end, but because we find out about things so much faster. When something happens in the world, the major news sites have it up on their pages within minutes. If you use RSS all of those different media outlets are combined into one space for your consumerment. Using something like an iPhone you don't even have to be at your computer, it's practically sent to your pocket automatically. It doesn't even have to be big breaking news. It could be that someone twittered that they just had a great bowel movement.
The other day it was reported that the stock market was back to 1997 levels. Colbert did a pretty funny bit on it but a part rings true. In 12 years I went from reading yesterdays news on a piece of paper to seeing Jabar Gaffney being signed by the Broncos within an hour of it happening.
I think this is one reason that we look forward to moving to Pittsburgh. It may not be as slow as DC traffic, but its slower than DC news which is fine by me.