As I watched the noon news crude has shot up $25 a barrel and the dollar is sinking against the euro faster then the Titanic. The financial solidity of this country is in deep kimchee, as the saying goes.As I read the blogs I understand how little most of us understand the intricacies of what's going on. Worse, Congress, as is it's habit, has rushed into crisis mode and they probably know even less, collectively, than I do about all that's involved.
The last thing we need is Congress rushing in with all sorts of fixes until they figure out just exactly what needs fixed and I'm not sure they're the ones to do it anyway. Remember they're the ones who rushed Homeland Security into being and look at the mess that is.
I personally intend to take a deep breath and trust the financial professionals to sort it out. Yes. Without a doubt changes need to be made, regulations put back in place; but when Congress - mostly the Democrats at this point, come charging along threatening to limit executive salaries and bail out stupid people for acts of greed, they are treading on treacherous ground.
They cannot nor do they have the right, in my book, to dictate how corporations choose to compensate their people. Whether or not they can even rightfully limit rewards for non-performance is unclear. Given time and clear heads this will get sorted out.
Talking heads and Congressmen who have no more economic knowledge than McCain, by his own admission, would do us all a favor by proceeding with caution or as I said before, stepping back and letting the money people sort it out. The last thing we need is both sides politicizing it. That's part of the problem to begin with.
4 comments:
When ever the government starts throwing money at a problem it scares me..
Look at FEMA who gave out $3,000 debit cards, people who were not even there or own homes, got them.
There is so much abuse when money is thrown for the wolves to divide. In stead of giving the money when the accounts come in..They give it to the ones who lost it in the first place and tell them to find a place to put the money. Of course they ask for more than they owe..
Ah, you say it so well and I couldn't agree more. Right now I'm really glad we decided to get rid of the TV service, I can read about all I need to know or can find it on the web without listening to the chatter -- not to mention we're saving nearly $150 a month! Better spent on heating oil! Wonder if I could pour some of it on those talking heads!
I love your headline -- September Mourn -- and the reference to deep kimchee. There is some nice styling there, Sylvia. I also appreciate reading how other ordinary people, like me, are making sense of this mess.
tropigal, just to let you know, I'm not Sylvia. Lol!
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