I am really getting tired of advertisers and TVnews usage of their newest little catchphrase "This Economy". The way they use it for selling everything from the useless to the necessary, and try to grab our attention by spinning off of it renders the reality of whats happening in our economy trite or all encompassing. Which it really is neither, exactly. To some the pain and anxiety is so real they are losing all hope and touch with reality, and to others they have their jobs and they still have money yet they are acting like the sky will fall any second.
The only thing we have to fear is fear itself right now is ever so true. There is money out there, one mistake made by the Government that led to the great depression that has not been made here. Team Obama has the presses running day and night now. But failing to target exactly where the problem started and ramming through a socialist agenda at the same time will exacerbate this situation. If Obama could just focus on real stimulus and quickly get money out to real jobs there could be an impact. The government wheels are so slow though that by the time the money gets to the people the recession will be coming to a conclusion.
Had all the sub prime loans been immediately rewritten, even if they had to be turned into 40 year loans, the banks would not have to deal with so many foreclosures. And the homeowners who were not in those loans would have benefitted from stabilizing values in their own homes. And maybe a lot of 401k retirements wouldn't have gotten taken down the drain with everything else. I know its now time to only say 'woulda, coulda, shoulda ...din't', but still there are lessons to be learned here and some wealth can still be preserved and rebuilt. But people are scared of what Obama will do because no one, including Obama himself, has a clue. Lots of money is sitting on the sidelines trying to figure out how the rules will change, and anybody who still has any money is smart enough and patient enough to see that an agenda is being put in place and waiting makes the most seense right now because under the new Obama administration there is no bottom to this market, yet.