I have been anointed the social media maven at the office, I update various online profiles, created a page of our company on Facebook, and started playing with twitter -- though I really don't get the point of this service. A couple of things from my twitter stream caught my eye this week:
"i fear whats under attack now not xyz co or industry but very concept of value and money"And a comment on an interesting, if depressing article by Michael Lewis (author of Liar's Poker, a book he now admits is practically quaint) entitled "The End of Wall Street" raises an interesting question:
So is the US$ the next bubble? What happens when US$ goes down to zero? Should we be shorting US$?As I have said before here, I feel there are parallels to Weimar Germany in the current situation. Two economic events have already afflicted me:
- My slender retirement savings have lost considerable value in the past six months.
- Frozen credit markets and a very dismal job market mean that it would be very difficult to sell my condo if I wanted, or had, to.
- Raging inflation wipes out the value of the cash I have in the bank as a hedge against job uncertainty.