Tuesday, August 5, 2008

Saw an article saying that hotel business was down 20% from last year to this year, and that 100 small cities were expecting to lose airline service this year. Also saw several articles talking about the possibility of General Motors going bankrupt - maybe Jim Cramer was on to something.

There was a surprising article in the Washington Post (surprising because I wouldn't expect to see it in this paper) saying that free market capitalism may have had its run and was now on the retreat. The writer felt that the average american had reached the point where they had nothing more to gain from increased globalism and more to lose. He also pointed out that although we like to keep government out of things, we also expect a certain level of fairness and workability in our social system regarding things like health care, and that we have fallen well below this level.

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