I'm taking my time reading 'The Panic of 1907'. Although the book is small, and the events stirring and moving, the language and terms used to define 'financial controls,' and the events instigating the panic are so multifaceted that I can do little else but take my time. But this isn't all of a bad thing. Not considering how I relish sinking into stimulating reads.
Very, very interesting read this book has become. Already my thoughts are running rampant wrapped around the chaos of what happened, and I still haven't read through the 'new chapter on today's financial crisis.' It's been like a 'little bit' of a vicious vortex spiraling around me thinking about this book I struggled to write, up against one small quote I came across in the Panic of 1907. The quote seemed so innocently parlayed that I couldn't help but doubt if many heed it...proof in this contention by considering today's current mix of financial affairs.
Yet, this is not to assert I'm convinced of anything. I'm actually not even in the market of looking for answers. I happen to agree with the authors who contend that financial crisis are too complex to find one solution, or fix, thus drawing me right back to the book I struggled to write, and the exact exodus that caused the greatest problem. For this reason I've decided not to review this book, electing to take stock in French economist, M. Leroy-Beaulieu's characterization of the 'condition' in August 1907. That last sentence is the gem. I, myself, speak all the time about that third law of motion.
Considering such a quote has to stand to then reason, 'why panic?' It's like a salesman rushing over to sell me on this great innovation, or let's just say trying to sell me on any old everyday service or product. Each and every time I instantly funnel back, looking for its offset; thus making me less than enthusiastic if the great rush towards me wasn't generated at my request. To this same token, it spells out my reluctance on believing in Prince Charmings'. And it most certainly is why I take stock in small, steady growth, and as well, as if I need further evidences, why I garner 'need over want'.
I've always believed, the easiest thing in the world to do is make money; but hard as hell to build trust, and trust in products that endure.