The financial difficulties the nation faces now are huge. It might not affect each of us, but it will affect some folks you know. I am not a macro-micro economist but it seems to me this breakdown is the result of several factors.
- We all wanted more of everything but the bill for everything came in the mail yesterday.
- Alan Greenspan -- who looks like he can't grow grass, grew our economy?How could this old fool have hung on so long? Was he really babbling in front of Congress last week? How much damage did he do on his watch?
- Our government leaders are far more concerned about their partisan affiliation then they are for the people who elected them.
- The banks disregarded their fiduciary interest on our behalf -- for more profits on their behalf.
- The appointed regulators -- like the SEC --just went along for the ride.
- Oh, and did I mention greed?
Who will pay for all these transgressions? I think the most affected will be the housing and financial industries, followed fairly closely by everyone else. We'll see. How far into your individual pocket will this recession reach? Again, we'll see.
My beautiful and politically astute wife blames the failing American Car industry for victimizing itself. It made the wrong kinda cars all along sez she. Point well taken, but excessively large gas guzzlers was what America wanted and expected from Ford and Chevy. As recently as 2 years ago, massive behemoths like the Ford Expedition roamed the highways. The American car industry really wasn't serious about a plan "b" and really didn't have to be. If you wanted trucks or truck type cars, you went to them. However, if you wanted reliable, cost-effective transportation, you chose foreign esp. Honda or Toyota. Along the way, the foreign car builders did build a plan 'b.' And some of their branding as efficient reliable car builders transferred to the trucks and SUVs they made as well. As it turns out, Japan may have the last dealership standing.Whenever I want to get mad, I tune into Sean Hannity on the way home from work. He usually makes my stomach churn within minutes. Today he was harping on an interview done by a newswoman in North Carolina with Joe Biden.