Total panic in Norway

The stock market continues to go for a roller-coaster worldwide. Next country to mount the scaffold seems to be Norway. At the Norwegian Stock Exchange, Oslo Børs, stocks plummeted by 4,5% yesterday. Today the drop was on a total of 9 %. That’s a 41% fall (!!!), reported from earlier this year according to Norwegian newspapers. Many people are now asking themselves if this is just the beginning – if Norway has yet the worst part of the financial crisis to come. So far no one has thrown themselves out from any window at least … we’ll see if we get an unpleasant déjà vu á la 1929 that brought the “Great Crash” of the stock market, ushering in the Great Depression.

These are interesting times to say the least .. in a quite worrying way ..


About tegis

This blog belongs to Carl-Mikael A. Teglund - tegis. Swedish emigrant with a heart for languages, philosophy, history, and politics (classical liberalism in the European tradition). Go ahead and look, read, or listen. I'm sure you will find it interesting.
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2 Responses to Total panic in Norway

  1. Tanya says:

    Sorry, it looks like the epidemic has spread. Soon we will all be eating tuna fish out of a can everyday and drinking some nasty swill we make in the bathtub just to cope with a depressing depression:(

    The latest over here in the U.S. is that Lehman is not getting the government bailout and AIG is in trouble now. Someone on our site said some cryptic words yesterday, “mark my words, the airlines are next”. Great, now I will have to swim to Europe!

  2. tegis says:

    Yea I read it on the news as well. I think the government will try to bail out AIG though. I don’t know if it will be able to stop the avalanche once it’s rolling. I don’t think it has to be necessarily that bad though. During the 30s and that depression we were less prepared than we are now and there are more ways out of a depression now that it was then.
    I know too little about the American airplane business to say much about it.

    I’m sure something good will come out of it in the end … we just have to wait and see …

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