I can't help but listen to this song today...
i know we're going to meet some day
in the crumbled financial institutions of this land
there will be tables and chairs
there'll be pony rides and dancing bears
there'll even be a band
cause listen, after the fall there will be no more countries
no currencies at all, we're gonna live on our wits
we're gonna throw away survival kits,
trade butterfly-knives for adderal
and that's not all
ooh-ooh, there will be snacks there will
there will be snacks, there will be snacks.
Hopefully I won't need to trade butterfly knives for adderal.
But we shall see... I know the US market was up today, but that may not mean a whole lot. It's one day, and yesterday's fall was pretty big (3.5%). This article points out, correctly, that we're by no means out of the woods. Nor are we deep in the woods. Caution is probably the best course of action, but a day like yesterday was coming for a while now. The White House has done a fantastic job at racking up a huge debt and encourage US citizens to rack up huge debts too. China's economy has been so hot for so long that at some point it was going to slow down. And I've touched on the US economy not being nearly as strong as your political leaders would like you to believe for a while now.
Things are fixable here in the States. If the White House ever decided to encourage people to save, that would be a great start. Another idea is for the White House and Congress to realize that:
1) They can't keep spending like they have in the last five years. Who ever wins in 2008 has a mess on their hands.
2) At some point they are going to have to do something about medical costs, Medicare, and Medicaid.
Of course, DC is too busy fighting over what you can and can't watch on TV and other 'moral' issues that look fine in print, but matter little in the grand scheme of things.