Post by Chelsea Patterson on Dec 12, 2008 14:22:12 GMT -5
In this cartoon, a New York intersection is shown. It just so happens to be that of Wall St. and some other, undisclosed street. Under the Wall Street sign, there is another common road sign. It says "ONE WAY" inside of an arrow. This sign is placed on roads to tell people that you are only allowed to go one way on a street. The odd thing about this sign however is that unlike most one-way signs that point in one of the directions that the street goes, this one is pointing straight down. This is saying that Wall Street is on a one-way street to loss and debt. Another notable detail is that the American flags hanging in the background are upside down. This is to say that the stock market crisis is going to turn America "upside down."
It is horrible that the United States is in such an economic crisis. “The DOW has lost just over 40%,” while “Nasdaq has fallen just over 42%.”1 Because of the failing stock market, “the US Dollar has declined by more than 10%.”2 The US Dollar is no longer as strong as it used to be. Now a great majority of other’s countries’ currency is stronger than ours. For example, one US Dollar is only worth 0.776522 Euros.3 This is more than just a little scary.
1Twin, Alexandra. "Wall Street's 8 Brutal Days." CNNMoney.com. 12 Oct 2008. 12 Oct 2008 <money.cnn.com/2008/10/12/markets/markets_sunday/index.htm>.
2Gelet, Joe. "Has Wall Street Lost Its Edge?." Seeking Alpha. 28 Mar 2008. 12 Oct 2008 <seekingalpha.com/article/70316-has-wall-street-lost-its-edge>.
3"Universal Currency Converter." XE. 09 Dec 2008. 8 Dec 2008 <www.xe.com/ucc/>.
