"the day after tomorrow" reminds me of current global crisis
By mazdakid
@mazdakid (347)
Philippines
December 18, 2008 7:55am CST
hi all!
i know this is a weird comparison, but the current global economic and financial crises remind me of the film "The Day After Tomorrow".
why?
if you recall, The Day After Tomorrow was about the Earth undergoing a severe (and kinda exaggerated) ice age as a result of man's harmful actions on the planet. the global warming caused by mankind resulted in severe shifts in the oceans' currents, causing severe weather and temperature fluctuations. in the end, the massive hurricane and the ice age cleansed the planet of mankind's pollution that have been spewed out for the past few hundred years.
this is kinda similar to the current global crises. because of (mainly) the irresponsible and careless actions of Wall Street and financial executives (including financial executives worldwide), the financial markets and the economies became so badly "polluted" with harmful matters such as subprime mortgage defaults, credit delinquencies, derivatives, unforeseen events and bubble economies. as a result, economies worldwide are now in the global hurricane and ice age called stock market crashes, inflation, deflation and recession.
but, in the end, just like in the movie (and in real life after a few more centuries) where the planet Earth became so clean, our economies and financial markets would become so clean. gone are the irresponsible and weak banks. gone are the greedy and imbecilic executives who triggered this global mayhem. gone are the risky financial instruments and products such as subprimes, derivatives and Madoff's Ponzi scheme. stock prices would be at their affordable levels.
just like in the movie, where the planet gets a fresh second chance, our current economies will have a fresh new start after the recession.
weird comparison... hehehe. =)
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