I want to get this right, so help me out when I go astray.
The fundamentals of the economy are strong. Although there does seem to be a credit crunch on. But this is largely a crisis of confidence. Brought about, in part, because Wall Street is terrified of an Obama presidency. Things would get better if people had more confidence in the economy. So it is important not to blow things out of proportion. But it is also important that we give Wall Street $700 billion now. Immediately. At least, according to the Bush administration. Which has had a hand in guiding the economy for the last eight years, based on the same principles that have largely governed American economic policy for the last 28 years. But this administration and these policies are not responsible for the current crisis, which again, is largely a crisis based on the fear of an Obama presidency. And, possibly, because of the last remnants of the old economy. Almost certainly because some people had false expectations of home ownership. And banks were forced to give home loans to blacks. We do know that the best way to avert a crisis is to not support Obama, which will make Wall Street feel better. In the end, vote McCain and avert economic crisis.
Does that about sum it up?
Tuesday, October 7, 2008
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1 comment:
There is a handy-dandy flowchart a few posts down which should help you understand what's going on.
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