So lets take a trip in the times machine, Mr. Peabody. Things are look-in way to familiar around here to me to not have been here before, and it sure would be nice to know what I did to get out of this mess last time, so I can try it again.
Okay first of all. Then; this country has weapon of mass destruction and we must act immediately or we will be in grave danger. Now; we have got to approve bailouts as they become necessary or we will be in grave danger. Then; you’re doing a heck of good job Brownie! Now; MR Paulson is an experienced Wall Street banker familiar with all that we need to steer us out of this mess. Then; the economy is in good sound physical shape. Now; the economy is in good financial shape! Ooops; and this weeks winner; Two weeks ago Mr. B told us that no matter what he would not be injecting cash directly into the banks. Today the announcement says that is exactly what he is going to do; to the tune of 250 billion dollars. Wall Street and the bankers have discovered something that Washington new a long time ago. When all else fails, just print more money!
If we add to this a litany of buzz words and phrases such as ; FEMA, Alberto Gonzalez, Blackwater, Abu Grahb, Waterboarding, Patriot Act, Donald Rumsfield, No Child Left behind, Enron and way to many more for just this short post, we begins to appreciate the uncertainty and relative chaos that has been around for these last eight years. Most issues were dealt with a stubborn, “I’m right and your opinion doesn’t matter.” On the war major protests by thousands of citizens failed to change the course of events. Oh yeah, that was Vietnam, that was then or is it now! Sorry.
If like me you have seen that little nest egg you have been building up for retirement one day, slowly turn into less than you spend on a good weekend at Lowe’s, you know the economy or the country are not in good financial shape. Add to this that today the market gained a thousand points on merely speculation while Japanese investors in our markets were promised that we would cover their debts if their investments failed. That on top of being already guaranteed a ten percent return on those investments by Uncle Sam!
Not to worry that yours and mine retirement accounts may have tanked but as one of my X investment strategies said to me, you only loose if you sell. So don’t do anything foolish and sell while things are so low. So you might even be inclined to buy! Yes, GM is now selling for lower than when we were kids in the fifties. Talk about a bargain. Bargain that is if you think people are going to buy cars from the big auto maker any time soon? What the heck, with gas prices plummeting, those gas guzzlers don’t look so bad anymore and besides some of the larger cars you can actually live in if you have to!