We use cookies to make sure our website better meets your expectations.
You can adjust your web browser's settings to stop accepting cookies. For further information, read our cookie policy.
SEARCH
IN Warsaw
Exchange Rates
Warsaw Stock Exchange - Indices
The Warsaw Voice » Comments » September 24, 2008
You have to be logged in to use the ReadSpeaker utility and listen to a text. It's free-of-charge. Just log in to the site or register if you are not registered user yet.
From the Editor-in-chief
September 24, 2008   
Article's tools:
Print

Millions, if not billions of people around the world have been intoning the word "crisis" in probably all the languages there are and the phrase "mood swing" has never been more apt than now. One fund is granted protection against creditors, another becomes state property. Moscow plummets into a precipice, then climbs to the top. Prices of oil are declining and those of gold are rising. So is people's blood pressure.

The stock exchange in Poland is also fluctuating, but at least here the fluctuation is somewhat smaller. The economy is doing pretty well and the government says it is keeping track of developments and that everything is under control. Nevertheless, just as frequently as they say "crisis," people keep asking the memorable question from the film Marathon Man: "Is it safe?"

It is pointless to look back to the Great Depression from the interwar period. The world is a completely different place now with different methods available, although people's mindsets are pretty much the same. A round-the-world trip no longer takes 80 days. Governments in totally economically liberal countries do not hold back from intervention on markets, although when they do intervene, they do so with evident disgust.

The world cannot afford to go bankrupt, especially when the bankruptcy is driven by emotional factors. Debt has to be paid, but wading though water does not necessarily mean you are drowning.

There is just one question that really matters: Will the lesson learned from the present troubles last long?
Latest articles in Comments
Latest news in Comments
Mercure - The 6 Friends Theory - Casting call
© The Warsaw Voice 2010-2018
E-mail Marketing Powered by SARE