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 Men of Integrity, May/June 2007
Circuit Breakers
Theme of the Week: The Creator's Cadence
Thursday, May 24
Key Bible Verse: We were crushed and overwhelmed, and we thought we never would live through it (2 Corinthians 1:8). Bonus Reading: Psalm 69:1-2
Black Monday. That's what October 19, 1987, is called. On that day millions watched helplessly as their nest eggs tumbled and splattered on the ticker-tape-strewn floor of the New York Stock Exchange. Many were forced to abort retirement and re-enter the workforce.
After that computer initiated selling frenzy that devastated so many, Ronald Reagan asked then Treasury Secretary Nicholas Brady to head a task force to prevent a replay.
His response was to install "circuit breakers" to slow down a stock sell-off. For example, after a 350-point drop in the Dow-Jones Industrial Average, a half hour halt to trading took place. When the Dow fell 550 points, a one hour halt took effect. But how effective would these measures be?
Ten years after Black Mondayon Monday, October 27, 1997, the "circuit breakers" tripped twice. The private investors of the world were spared. The system worked.
But why? In an interview on the following morning, Nicholas Brady explained. "We installed these circuit breakers to halt trading temporarily to enable the human mind to catch up with technology. We wanted to slow the process so human beings can understand what has happened."
Patrick Morley in The Christian Businessman
My Response: What warning signs of impending personal overload do I detect?
Thought to Apply: There can't be a crisis next week. My schedule is already full.HENRY KISSINGER (politician)
Adapted from The Christian Businessman (9-10/98) by permission.
Copyright © 2007 by the author or Christianity Today International/Men of Integrity magazine.
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May/June 2007, Vol. 10, No. 3
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Prayer for the Week |
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Help me, Lord, to rediscover the rhythm that You built into Your universe for our benefit.
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