Crashing and Burning

So, who up in this hizzy has some money in that stock market??? I know, that's a terrible way to start this. It's like walking into a friend's home for dinner and saying "Hey, I just drove my car over your dad...twice...I think he might be dead...OOO, look, cocktail weenies!"

Seriously, the markets took quite a beating this week. The Dow Jones Industrial Average dropped to its lowest point since 2003. And overseas markets also felt the heat, with Japan's markets dropping 10% in a day and Indonesia actually STOPPED trading to avoid a major selloff. All this after a $700B buyout plan passed by Congress last Friday that was supposed to "save" the country. Now, the government wants to buy into banks to make sure we (the bankers) know our money is safe and government-backed. Oh, it's a good thing the federal government will soon be taking control of my money. I was thinking about sending it to the troops in Iraq myself, but apparently the government will be taking care of that for me. Seriously, how am I supposed to believe my money is insured by the federal government if we're already in a deficit in the billions-approaching-the-trillions? Here's an idea: I'll get everyone in America to send BACK that $600 tax rebate check if you will just STOP SPENDING THE MONEY! And let's consider this...the world markets look to OURS for financial advice. Yeah. Brilliant. That even AFTER they met George W.

And I'm in a unique circumstance. I'm in (I guess) the tail end of Generation X. That means I've been alive now for TWO stock market slumps. I keep seeing references to the crash of 1987, only I don't remember much of that one. I was only 10 years old, and Peter Piggy Bank was still in charge of holding my 401(k). This one is new to me...and at a time when investment analysts say I should be putting more of my money into investments. I can't say I blame them. This is like walking into Best Buy and seeing the HDTVs on sale for 80% off. Seriously, I have 5 bucks in my pocket...I can buy a share of General Motors stock. Or I can just feed it to my cat. At least THAT way, I can guarantee SOME return on my investment.

But here's the thing that worries me. This is the SECOND time in their lives that my parents have had to deal with this economic bullshit. Now, I say "bullshit," but I don't mean "the economy should always be awesome," because it's not. But it should also not be crashing twice in 16 years. I'm okay with volatile. The market lately has had 1-day drops of 300 points, only to recuperate and gain 200 more points. That's a little stronger fluctuation than I'd like, but I'm okay with it. I'm talking about the crap where EVERYBODY SELLS OFF THEIR FUCKING STOCKS LIKE THEY'RE ON FIRE! Come ON! Part of investing in the stock market is riding with the ebbs and flows. Hell, even people who "invest" by dropping 20 bucks in the Powerball drawing every week know they're going to have far more bad days than good... and some of those people don't even have any of their original teeth! How is it that THEY get it, but Wall Street doesn't???

And let's look at our grandparents. They're LIVING off their investments. If the market crashes, they're left without food, medicine... a HOME.

So, I think it's a fair assumption that much of America thinks the federal government can do something to fix economic problems (so far, the $700B buyout? Not so much.). It's also apparent that "W" isn't helping. I heard a stock trader on Wall Street, who listened to "W" try to convince America that everything is fine and not in a recession, say "He (W) just needs to stop talking." Agreed. The damage is done from the past eight years. It's time we look to the new presidential administration to see what they have to offer:

McCain has 5 homes (or 12...he forgets). He must know SOMETHING about real estate.
Obama is "best buds" (thanks McCain) with a man who used to be involved in domestic terror activities. He must know SOMETHING about investing in chemical companies.

Bottom line...America wants to know how, if and when the economy will be fixed. And the "his best friend is a known terrorist" bullshit from the McCain camp about Obama really makes me wonder if the guy who owned the first-ever dollar bill (HE'S OLD!) really has an economic plan at all. And given that half of America wants THAT guy in office...makes me think that the next market crash doesn't start on Wall Street, but Pennsylvania Avenue.

FIX....IT!
-B-