Showing posts with label 2008 Crash. Show all posts
Showing posts with label 2008 Crash. Show all posts

Saturday, August 17, 2019

The Walking Dead on Wall Street

Synchronicity can deliver a very clear message about a situation and yet its play can be so over-the-top that it's hard to accept what has just been delivered.  In the current season of market and political volatility, my mind returns to an incident that gave me a clear preview of the last big financial crash but was so outrageously inexplicable that I failed to act on it.

The Wednesday before the collapse of Lehman Brothers, which set off the financial crash of 2008, I was driving to an evening class I lead for advanced students. I had the car radio tuned to the local National Public Radio station. It was broadcasting the "Marketplace" program, a business report I don't often monitor.
    Halfway through the show, the announcer said. "Now we'll do the numbers", meaning that they would give a summary of activity on the stock exchanges.
    What followed was unexpected, inexplicable, and certainly never explained on that station.
    Instead of a wrap-up of what had happened on Wall Street, I found myself listening to a complex skit. The plot involved mad scientists who were mass-producing zombies in the swamps of Louisiana, to make a fortune for a corporation that planned to market a new product called Zom-Be-Gone in supermarkets all over America.
    This was mildly entertaining, but by the time it was done, I was still waiting to hear the market summary. The program ended with no explanation as to why its time had been claimed by the walking dead.
    Bemused, I shared this incident with my circle of dreamers. I speculated that it was telling me that Wall Street had been taken over by zombies. If that was the case, then what action should I take? Should I sell the modest investments in my retirement portfolio?
    By my own logic - as someone who habitually navigates by synchronicity - the message was quiet clear: Sell all stocks. Do it now.
    But even I was unready to take such a radical step on account of one bizarre episode of a radio program. By the beginning of the following week, it became abundantly clear that I would have done well to have followed the logic of synchronicity. By the end of that week, the value of the stocks I owned had sunk to 50 percent or less of what I had paid for them.
   I did not panic. I was buoyed by a dream in which I was driving a high-performance car that took a nose-dive, barreling down a one-lane road where a turn was impossible in a near-vertical descent - until things finally leveled out and I came to a gentle rolling stop in what looked like a fabulous duty-free area at an airport. This encouraged me to stay in the market, and things eventually recovered.


Photo: Opening of "White Zombie" at the Dominion Theatre in London in 1932.