This is the first post from my iPhone.

The market went down another 449 points today. That is 7% off it’s local high, and for that reason, I think I’m going to get back into it. I know I’ll lose money in the short term, but I will do OK over a longer period. a really longer period.

One thing I wonder about is…. when I strategize (i.e. plan for the future) I wonder if assumptions about the past will hold water in the future. Logic indicates that it should….but it is still a gamble (although one with pretty good odds.)

I think that when I was younger, when I wanted the world to be different, that I wishes that the above wasn’t so. I think I’m beginning to accept that it is, mostly (nut not always).

I had to post. Too much is happening in the world and I need a way of processing it!

• Bear Stearns was gone in a weekend. Not that I knew anyone there, but I once went for a job interview. They were a big organization.
• The Treasury Department takes over Fannie Mae and Freddie Mac. $200 billion taxpayer money is ‘lost’.
• Lehman Brothers (26,000 jobs will be lost.)
• Now there is talk of Merrill Lynch being sold to Bank of America.

I was nonplussed at first (after living through the dot-com bust, I became a bit unconcerned about this economy).

Now, I’m worried; first for the future of the financial system to provide New York City jobs, and the whole tri-state area, which will be hurt for a long time to come.