History Channel Feature on The Financial Crisis

History Channel feature on the Financial Crisis.

This was what I watched last night, and after watching it, I felt this uneasy feeling about this whole thing. Maybe we haven't felt it that much here in the Philippines (except of course in the office where our vessels are being laid up as effect of the crisis), but watching the feature made this situation even more real to me. It narrated what had happened to the 1920's during the Great Depresison, and how similar it was to what is happening right now. The difference though was in the 1920's it's more on the crash of the stock market and is contained in the US. the crisis right now is, as we all know, is more global, and does not only involve stocks. Insurance and life insurance rates, mortages and the fall of value of real estate, and most importantly, credit, are the major concerns now. Back then, Roosevelt had this "The Deal" in roder to address the situation, and though measures were taken (start of the SEC for one), it proved to be unsuccessful, and the commentary claimed that it was the World War that got the US our of the slump. Now, Pres. Obama is being likened to him, and the world is watching as to how he will address the global situation. The conclusion though is that maybe the US will no longer be the sole influence in the market today. We'll see.