I know few are calling the economic problems we’re experiencing a depression… but they’re depressing me. It’s all anyone talks about and constantly on my mind. Yours too? Probably.
We have lost jobs where I work. Obviously we are not alone.
The problem is people who do have jobs are worried too. I’m certainly worried. And when you’re worried you spend less. The whole thing spirals out-of-control.
Back when I worked in Buffalo we tried our best to not show conspicuous consumption, lest we upset our viewers, most of meager means. The whole world is now Buffalo.
Do I want GM execs riding in corporate jets or the officers of failed financial firms getting bonuses? No. But we need to see money spent and spread around.
I think the depressing part of this whole equation is if there is a way out, I don’t see it. You probably don’t either. We need spending, but the underlying problem which caused our problems is too much spending. Can you drink to cure alcoholism?
Is the money authorized by the president today the financial equivalent of end-of-life care? Are we propping up a patient that’s going to die anyway? And if the economy fails what happens to all of us?
I haven’t heard many talking about inflation. I suppose that’s a possibility. Companies will be able to pay off loans with much cheaper dollars. Of course it also means my 25 years of saving for retirement will be pissed away along with my home’s equity. I put away from my future therefore I am a sap.
Please deposit $25 for the next three minutes.
We set up a financial system where those who played by the conservative old school rules did poorly versus the gamblers. If you wanted to get ahead in your company you had to gamble.
I wasn’t even playing in the game and I’m losing. This sucks.