29 September 2008
Whatever Happens Next...?
If the economic situation wasn't so serious you could be forgiven (if you live in the US) for thinking you were in the middle of a bad soap opera or comedy.
The problem is it isn't amusing in the slightest. This temporary pause in the bail-out plans is just that - temporary. A bail-out of some kind will be pushed through. The Federal Reserve and associated cronies will not be blamed for the economic catastrophe the US is currently facing.
A few concerned economists are raising their voices in horror at the bare-faced codswallop being used to justify the theft of tax-payers money on a 'project' which will not work. Once this plan has been approved it is speculated that by the end of the year the situation would become 'perilous' all over again.
This is a prime example of the benefits of deferred gratification - go through any necessary pain now for gains later, not the other way round. The 'Buy Now, Pay Later' mentality is how the country has found it self in the situation it is in now.
People need to move into a different mindset: if you can't afford it now, then save for it. I know some people are saying that businesses need credit and there is currently a log-jam in the systems that could affect jobs, etc. My question is: Why create jobs based on instability? Once the markets crash they will sort themselves out. A level will be found which will be more inclusive and based on real products rather than candyfloss, paper money with nothing to support or back it up and hype.
We will see how things pan out over the next few days, but it seems People Power has reared its head a little - enough to cause the criminal fraternity to pause and regroup.
Interesting times, indeed.