Thursday, October 09, 2008
Good News and BadMy partner has sent me off to the sun porch, where I do my blogging, because I am stressing about the state of the markets. We were sitting on the couch, watching CNBC, where the headlines read, "DOW plunges below 9000", "US to start buying stakes in banks", and the one most worrisome, "Can G7 do anything to stop global meltdown?". I was watching in fear, and muttering, " do I switch from money markets to treasuries?", "should I take the remaining capital, and stock up on canned goods and antibiotics?", " do the elections even matter right now?" It has been a frightening slide to the bottom of the economy for many of us, but for me, I saw it coming a long time ago, and it is like watching a train wreck you've been expecting, finally coming true, in slow motion.
The good news is that politically, Democrats are seen as having very little to do with this economic meltdown. Whether this perception is based on fact doesn't really matter, only the polls matter. Only winning matters. But you have to ask yourself, as many people did during the years that the Iraq war went completely south, what does a win look like? Will the Democrats inherit a nation with insurmountable debt? Will we the people, ever be able to recover the American dream? And what sort of country will the Democrats have to re-build, come January? Will there be inaugural balls as Obama takes office, or will it be more like inaugural pot luck dinners? And the wars we are engaged in at the moment, will we have to pull out suddenly no matter what the circumstances on the ground, because we just don't have the money to continue?
My thoughts on the market meltdown of the last couple of weeks are dark and disturbing. But I was right way back when , and so what I'm going to say right now should not be dismissed as crazy.
I think the big players are cashing in their chips. They are taking money out of the markets in massive amounts, and leaving regular Americans holding the bag. And even though our lawmakers are telling us that these massive infusions of taxpayer dollars are going to protect our meager savings, I think it's all bullshit, and you ought to do just what the big guys are doing, take whatever you have left and get it out of the market, or you're F-ed.
The good news is that Democrats will probably win in November.
The bad news is, what will that win look like?
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No subject for immortal verse
That we who lived by honest dreams
Defend the bad against the worse."
-- Cecil Day-Lewis from Where Are The War Poets?
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