You might as well is wondering the status of our financing, more specifically the credit market today. Well, I’ve had a chance to read a post by Anita Campbell at American Express blog saying that there is a very different picture of credit market today.
Throughout this entire credit crisis, I’ve had the bizarre feeling of being caught in a Star Trek episode. Like the episode of Star Trek where they’re exploring the Delta Triangle (the deep space equivalent of the Bermuda triangle). Captain Kirk and crew happen upon an alternate universe containing a vast graveyard of space vessels and inhabited by the descendants of people from the original vessels. The starship Enterprise is caught there until they manage to generate enough power to pull the ship out of the alternate dimension back to the normal universe.
Just like Captain Kirk and crew, I feel like there are alternate universes out there as they relate to the current global credit crisis.
You have Wall Street, which has gone through some manic trading in the past weeks. Through a series of events that the average American hardly understands, the investment banking industry more-or-less disappeared from the American landscape overnight. Central Banks and government authorities around the world are meeting and working together in unprecedented levels. And we’ve seen the government intervene into the U.S. banking system in ways not seen in the better part of a century. With each passing day we look for signs that the world credit crisis is calming, but it’s been a wild ride.
Well, we are definitely in recession these days but the best we can do is how we can strive and win over these down times of our economy. Check out more of this article in American Express Open Forum Blog.