The zeitgeist continues to change
on October 8, 2008

The German word ‘Zeitgeist’ describes ‘the ethos or mood’ of a select group of people. Back in January, the blog noted a change underway in the financial zeitgeist. Today’s Wall Street Journal, normally a cheerleader for the financial community, provides a further example. After reviewing the losses to her personal portfolio, and considering how current financial market events compare to those at the start of the Great Depression, Karen Blumenthal writes:
‘For more than a decade, I have gone to my local elementary school to tutor. There I spend time reading with children who own no books of their own, whose families can’t afford school supplies and who have never been to a dentist. For the price of 45 minutes a week, I return to my desk feeling as wealthy as any one person needs to be’.

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