Up Battle

It is 79 years today since one of the most notorious stock market crashes started. The day was popularly named “Black Thursday”.

Three phrases - Black Thursday, Black Monday, and Black Tuesday - are used to describe this collapse of stock values. All three are appropriate, for the crash was not a one-day affair. The initial crash occurred on Black Thursday (October 24, 1929), but it was the catastrophic downturn of Black Monday and Tuesday (October 28 and 29, 1929) that precipitated widespread panic and the onset of unprecedented and long-lasting consequences for the United States. The collapse continued for a month.

http://en.wikipedia.org/wiki/Wall_Street_Crash_of_1929

The stock markets around the world celebrated this with its own mini crash. Oslo Børs ended down -9% today.

All I can say to all you faithful believers in the church of capitalism out there that capitalism will once more have its day. Capitalism represents a lot of the positive human spirit and entrepreneurship and risk taking that goes into improving ones lives and the world. Unfortunately lately we have been heading in the wrong direction: anti-capitalism.

I hope and think that these good things will come back. It must. Getting up in the morning must mean that you believe in entrepreneurship and risk taking.