We have survived the financial crisis of 2008 without committing ourselves to a higher mountain of debt than we already have. The morning after always brings new clarity to any situation and this one is no different. We have passed the crisis point and the stock market is recovering.
If we look at the panic driven days in the last two weeks compared to the overall national mood today it is as though we have all breathed a collective sigh of relief. Panic is never the time to make rational decisions. Maybe after the panic of Iraqi weapons of mass destruction we are finally learning. If we had not invaded Iraq we would not have been attacked by them because they had no weapons of mass destruction. But once we committed ourselves to that panic driven decision we were stuck with it and are still paying the bill. I don't think we want to do that again with this threatened financial situation which is just conjecture anyway.
I wasn't surprised to see the stock market numbers creeping back up today. Two thirds of yesterday's 700 point drop have already been recouped and the day is just beginning. I was amazed yesterday at the way the situation was covered by the major media. CNN, Fox and even MSNBC had an endless stream of political and financial commentators on who were angrily (literally) blaming the American public for the failure of their desperation driven bailout bill. I won't soon forget that righteous indignation directed at me and millions of people like me by those fortunate few.
Maybe things will be a little tight for a while, maybe they won't. I don't trust the people who got us into this mess to get us out of it. I think that we should send a thank you note to all of the legislators who didn't vote for that insane bailout bill. The bill was rejected by members of both parties which just shows that fiscal responsibility and the capacity to think and act in the best interest of the people is not limited by political ideology. Those people need to hear that the people of this country support them in their stand in the face of incredible pressure.Powered by Sidelines