Well, maybe not the sky. But with the Dow Jones Industrial down 23% in just a week and a half it sure seems like it. World financial markets are reeling, banks are failing, and the US government must think that money grows on trees, because the government’s response to the problem is to throw money at it. One question I have for all the Senators and Congressmen, “Where do you think all this money is coming from?” Either the printing presses are rolling and you are printing more money, or you expect to take it out of my pocket. I don’t like either option.
The news media is busy feeding the flames of panic. I quit watching. I just couldn’t stand another breathless, busty blond, eyes wide with excitement, telling me about the future horrors if the current crisis is allowed to continue without someone doing something. Oh yes honey, the horrors. You probably won’t be able to get a new Lexus this year! You might even have to go to only once a week manicures! Whatever will we do! And what really gets my goat is the amnesia the media seems to have. It doesn’t seem all that long ago that the crisis was rapidly rising oil prices. Yesterday it was reported that adding to the crisis, is the rapidly falling price of crude oil. Hmmm? Seems to me that should be a good thing. I certainly don’t mind that it is costing me $5 less to fill up my tank than it did just a few months ago.
I’d like to inject just a little bit of sanity into the mix.