2 Things Concerning the Impending Economic Doom

First of all, I'm inexpressibly happy that our elected men in Washington actually listened to the taxpayers for a change and decided not to use $700 billion in tax money to bail out Wall Street. Good for them. The last thing we need is the government saying "Hey we can print as much money as we need!" In Notes on the Next War, Hemingway wrote, "The first panacea for a mismanaged nation is inflation of the currency; the second is war. Both bring a temporary prosperity; both bring a permanent ruin. But both are the refuge of political and economic opportunists."

Secondly, what does this mean for our way of life? I don't think it's the end of our economy. With the market in such flux, however, we may have to get used to a different standard of living from that which we've come to expect. That would be a good thing. We may have to do without that second car, or our cell phone, or cable tv. We may have to spend more time finding entertainment at home with our families rather than at the movies or at a restaurant. We may see fewer jobs in the service and entertainment markets, and more people actually producing goods. It bears keeping in mind as G.K. Chesterton wrote, "There cannot be a nation of millionaires, and there never has been a nation of Utopian comrades; but there have been any number of nations of tolerably contented peasants."

Comments

Xindaeltal said…
I disagree with you Rick I will be rich someday and successful. There! I said it! IN the same sentence! Now get out of my office!
Rick said…
I never said that there could not be millionaires. That is obviously untrue. The problem lies in the idea that we should have a nation of millionaires. (i.e.- That everyone should live like they're rich.) When people refuse to be content with the good gifts God has given, they insist on living above their means and get in debt up to their eyeballs. It's natural that there will be consequences, and that is what we're seeing right now. The economic bailout package is simply a way for the nation to attempt to avert the consequences for its foolish addiction to credit. The only result will be that our children rather than ourselves will suffer the consequences.

So, yeah, I think it would be good for us to be forced into a slightly lower standard of living for a while, to teach us the things that are truly important in life.
Xindaeltal said…
I think you should be forced to take a long journey off a short pier and into shallow pond so you are just wet and don't drown.
Xindaeltal said…
by the way the journey comment was in reference to your journey remark you failed to leave on my blog ;-)
Erica said…
You guys are weird =P
But yes, many problems would disappear if people didn't live above their means.
MadLibs-cheap entertainment for HOURS.
Xindaeltal said…
Until they passed it again. This time with more crap than the first one.
Rick said…
Yeah, I know what you mean. Our Representative, Goodlatte, voted against it in the House the first time, and then turned around and voted for it the second go around. I can tell you who I won't be voting for this year.

And of course, when they passed the bailout, the economy completely recovered and soared higher than...um...I mean...oops... Oh well. Throw more of our tax money at it! It will get better eventually!
Xindaeltal said…
This is making me want to go into politics. If I became president, I would just veto everything, all the time until the legislature gave the American people what was best for them. Which is lower taxes, efficency in spending, no social programs except for those who are completely incapable of taking care of themselves and have no family or anyone to take care of them.
Rick said…
Oops, I actually learned that Goodlatte voted against it both times! Which is why I voted for him. And he won! Yay!