Lines of Depression +
The Franklin Delano Roosevelt Memorial in Washington DC is more like a mini park on the south west side of the Tidal Basin than a grand memorial like the Lincoln or Washinton Memorial/Monument, but it tells a great story about FDR's term as President. This section of the Memorial for example covers the Great Depression and is represented by 5 statues of men lining up for food/work/welfare. Kind of scary to watch the world economy nose dive at the moment, particularly whenever the Great Depression is referred to in the discussion. Every day clients are making snap decisions with their finances based on what the 7:00 am news says happened on Wall Street the previous day. Panic seems to be the order of the day lately. On Wednesday morning I lost 10% of my portfolio value in the first 10 minutes of trading on the Australian Stock Market. I went to make a coffee and when I came back, the markets had opened and bam! There goes 10%. Nothing at all I could do about it. I really feel very deeply for those retired or about to retire. A 10% loss for someone in that position could be catastrophic. Enjoy the weekend folks despite the gloom!
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