The financial world is in crisis... millions of Houstonites are without power... we are a gazillion dollars in debt to countries that aren't considered "friendly"... we are spending one thousand million billion dollars on Iraq every month... and I have heartburn. Whatever shall we do? I say, we watch the news and get more scared. See, the more scared we are, the less we all spend and live. Yes, yes. Run down to the bank, right now, and get all your money out and stick it in your fridge. (no robber ever looks there, however if you've got kids, good luck.)
The media FEASTS on fear. Now, the financial situation is bad. I go to a bible study full of guys who work for all these places. Or at least they used to work for these firms... we'll see what the situation is tomorrow morning. Anyways, most of them will tell you that whatever is going on, even though it sucks, it is the right thing and the healthy thing for the economy in the long run. They were practicing unethical business practices. From "naked shorting" (stock term. Just know that it is one of most illegal-legal things going on in the stockmarket today. It is the equivalent someone telling lies about you and every lie told about you they get more money.) to giving Bubba and Lora-lee, who make 12,000 dollars a year, a loan for a 400,000 dollar house.
In the end, if you ask anyone, it is good old fashioned market correction. It is reaaaaaaally PAINFUL correction, but a needed one nonetheless. It might take a couple of years to totally recover, but we will recover. I just pray that the government only has to bail out a one or two more of the big boys. AIG looks like it is next. GM is of course lifting a pant-leg and thumbing for a ride, but I don't think the fed goes in for the working man's hairy, chubby leg. I think they are more attracted to the rich, fat, Wall-street crook who have been sleezing-up the world financial markets for the past 20 years. But hey, the gov. and those guys are long time lovers.
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