3.18.2008

I don't feel stimulated

This missive from the IRS showed up in my mailbox last week, unfortunately it did not have the intended effect... I feel like I am living in Weimar-era Germany or some South American banana republic. This 'stimulus' is really more of a bribe passed by feckless and cowardly elected representatives in Washington. It's contemptible and fraudulent, and if the government was a commercial entity (like, say, General Motors) I would wonder if this check -- when it shows up -- would bounce. It could be argued that Americans (addicted to debt, prone to living in McMansions and driving SUVs, etc.) get the government we deserve: "We the people..."

To use another analogy, I feel like I am perched on top of the longest drop on a rollercoaster.... waiting for the plunge, and it's a long way down. I lived through the silliness of the fin de si├Ęcle excesses of the Internet boom, and also inadvertently made some money in the run up in real estate. I know things could crash hard and have tried to prepare myself for whatever comes -- but reading the papers, I have to wonder if it's enough (the WSJ had a commentary last week, that concluded by suggesting that the current economic situation should resolve itself without a repeat of something similar to the Great Depression...)

Having a cash reserve in the bank is of little consolation if the value of your money diminishes a little week by week and month by month. I think we (collectively) are entering unchartered waters, and, given how modern capitalism seems to work, I expect that the captains of finance who profited the most from the previous excesses, and who are largely responsible for the current mess, will walk away with rich severance packages.

1 comment:

Servidores said...
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