Tuesday, September 30, 2008

The Market Mess Legacy....

Well, yesterday was an interesting day! The market plummeted almost 800 points and there was nothing else on television but talk of this disaster....All this because the House of Representatives couldn't get a majority to pass a bailout bill. Since I am home most days, either writing or resting my broken toe, I had the full benefit of listening to every Congressman/woman, every economist and every political pundit that came on. Everyone had a theory, that didn't include him or herself.

It was doomsday from the economists, for sure. We are on the verge of total colapse, and a bailout is the only way out, apparentely. The money taxpayers are dishing out will be the only thing to prevent this massive problem, it seems. Funny, I don't remember Wall Street asking the taxpayers for their opinion about anything when money was being made. Now, that their money is urgently needed, the taxpayers are important! On the other hand, we heard political rhetoric from everyone else. Was it the democrats who couldn't get every one on their side to vote for the Bill, was it the Republicans who couldn't get enough votes to deliver a good showing? was it McCain who showed up in Washington, or Obama because he didn't? The blame game was in full swing. Was anyone else NOT surprised at this? These are politicians after all...they need to blame someone. Taking responsibility is not their strong point!

I am not a economist, hardly know how to balance my checkbook, nor am I a political pundit...but it's not rocket science either. You make the money, you get in trouble, you pay the consequences. Period. Isn't it the way life is? Don't we tell our children that all the time? It's called being a grown up.....but because this time it involves the whole American economy , we are told, and the whole world for that matter, Wall Street has to be bailed out. Wonderful!

The ones I actually feel sorry for are the young people who would inherit this mess. According to some it will take years and years to right the market, years and years to get this mess cleaned up and most of the guilty parties will be dead and gone by then!

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