I haven't written in a while, but I have been busy. The work at my paying job has picked up, which is good when you see the economy melting down before your eyes. And family life is as busy as always. Soccer practice continues to occupy several days a week of my time and I was able to squeeze in the collapse of the Ravens last night on Monday Night Football.
So what has been occupying my thoughts for the past week or so is the crisis on Wall Street. I have watched my stocks tumble 10-30% in a short amount of time. I have not sold anything, so I haven't lost any money. As any good money manager will tell you, you haven't lost any money in the stock market unless you sell. When you sell, you've solidified your loss.
I have watched institution after institution collapse in terms of stock price and in name. It seems that the mere mention by the media that a company poised for collapse causes said company to collapse. In a short amount of time we have lost Lehman Brothers, Bear Stearns, Merrill Lynch, Washington Mutual (WaMu), Wachovia, and AIG. What would normally be a major headline for each company has become second page news given what it happening everywhere else.
The Congress continues to bicker about providing an economic bailout to rescue Wall Street and Main Street. Each round continues to fail and each party blames the other for the failure. However, the average Joe, while not having a great understanding of what is going on, does understand that his family is the one that is going to pay for it.
With the economy sliding into recession, by whatever definition you want to use, the government continues to print more money to devalue the currency, making our hard-earned dollars worth less. The government continues to borrow money from China and the Middle East, giving them more leverage over our economy and our future. And as the proverbial slap in the face, we are told by the government that the foundations of our economy are strong and that inflation is in check. Meanwhile, we are watching our retirement plans dwindle in value. Our salaries are rising at 3-4% per year if we are lucky. Yet we're paying 100% more for gas than we were several years ago and $100 doesn't go that far at the grocery store anymore. If inflation is in check, then why does everything cost more?
Americans are tired of the lies. The President lies to us. The Congress lies to us. The media lies to us. The 2 major candidates for Presidency lie to us. Wall Street lies to us. We are tired of the lies. We want the truth.
Explain this economic crisis to us. If a bailout is needed, let's pass one that doesn't have riders giving subsidies to farmers in South Dakota. Pass a bill that does not just give a handout to Wall Street to provide more cheap credit, which will cause more people to go out and buy homes they can't afford. Do not pass a bill that makes United States Government the largest financial firm in the country. Do not try to over-regulate the market and artificially inflate the housing market, the credit market, and the stock market. Do not pass a bill that you know will only make things worse in the long run.
We are not stupid. Stop treating citizens as if we are. As for the voters, it is time we wake up. Why are our Senators and Congressmen in office for 20, 30 years? We holler for change, then vote for the same bozos every election. Steny Hoyer has been in office since 1981 - that's 27 years. Barbara Mikulski has been in Congress since 1976 - 32 years!
I urge you to contact your elected leaders - Senators, Congressmen, and tell them what you think. And let me tell you - they are pretty tricky. I wanted to contact the other Congressmen in Maryland, but they hide their email addresses and the only way to email them is to complete a online form and lie about your information. Otherwise, it directs you to the Congressman in your district. I want all Congressmen to hear what I have to say, but they make it so that you can't tell them.
If you want change, it will not come in the form of incumbents. I don't care who your party is. If you're a Republican, perhaps it is time for vote for a Democrat. If you are a Democrat, perhaps it is time to vote for a Republican. If you want change, DO SOMETHING DIFFERENT! Otherwise, sit back and expect things to continue the way they are.
