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November 01, 2008 at 04:00 AM
We all know we live in a fast-paced world, but very few 12-month periods have seen as much change and commotion as the recent year. Dow 14,000 captures the headlines in October 2007 with predictions of Dow 20,000 and higher. Oil at $147 was felt by everybody a few months ago in July. Goldman Sachs and others forecasted $200 a barrel oil.
Gold was the topic of the moment in March. A quick spike to over $1,000 an ounce was followed by a correction of more than 30 percent. Silver slipped over 60 percent and sits now below $9 and ounce. All time highs in the price of corn, rice and wheat moved giant retailers, Costco and Wal Mart to limit sales of rice to two per person.
Of course, all of us are painfully familiar with the developments in the financial worlds. Domestic and international financial centers have been hit by what’s been dubbed the “perfect storm”, a toxic combination of extreme optimism, lack of perspective and greed.
