Geez, Louise. Can you believe this mess? The art of the economy is being tempered, big time, with the media toning down the coverage of the (dire) financial meltdown, at least as far as the graphics go. Just like with death, we are dealing with euphemisms: stocks have “slid”, markets have “gyrated” but not “crashed” and companies have been struggling and tottering and floundering so that failure is not part of the lexicon. Even the Wall Street Journal is staying away from words like crash, panic, pandemonium, apocalypse...
My last leave-taking was much more symbolic. Still, a shift-shaping week so let's look at the graphics of it all. I give you my own rendering at left. Wall Street will never the same.
I've looked for art that can represent this eclipse/ellipse. The best is this week's Newsweek with Treasury Secretary Paulson as the King of the Economy. Do we need a scepter waved? What is interesting is the dual covers for Time Magazine, one with the Everyday Joe, right, falling down the economic drain (for the U.S. domestic cover with the title: How Wall Street Sold Out America) and the other, showing the Bull of Wall Street , at left, (for the International markets). The photo for our very political times, and the photo with the story for the rest of the world. Well, the tv has been off so all I've done is note the headlines.
Fickle, thy name is
The biggest Wall Street story most Americans haven't yet heard of is the $62 trillion unregulated credit default swaps market. Hedge funds are private and not traded on a central exchange. No art with this, though.
Well, these are stories that have all happened while I've been enjoying the beautiful aspens turning in Vail. The drive back to Santa Fe was most glorious. Sometimes things happen so quickly, though, that the cover art can't explain it.
My take, as a mom? We need to understand how to live within our means, even when the rest of our culture and society will do anything to sell us everything. I've only had one child who was thoroughly instructed through the educational system in the important aspects of personal finance. That's sad.
Recession Art - the best was New York Magazine's The Panic of 2008 by James J. Cramer, left,
which is so old by now (and not yet in my mailbox). Such is the speed of the markets and change.
Pure dissonance: CNN's Nancy Grace on the missing Caylee story. This is another dead white girl sort of distraction story. I happened across this in channel flipping last week and saw that about $250,000 is the reward posted for Caylee, but I wonder how much money CNN is making on Nancy covering the story? Let me not go off, though, on how deeper content is buried in the tabloidization of the news.
Crazy times. I still stand by my own art. Tough times. Now and ahead.