Oh, yes, it’s another day of free falling Dow, of shrinking consumer confidence and spending, of dropping house prices and values, of rising unemployment. The banks bail-out was not really an economy bail out, the crisis is deeper and more extended than previously thought, and it seems that nobody has a clue of how to fix things. Our economic and financial leaders cannot pro-act, every action is a re-action to more bad news and troubling results. It was worse than previously thought. But is this the bottom? Or should we be expecting things to get worse? Pretty much everybody thinks we are in a recession. OK, now what can it be done?
Sometimes I am getting overwhelmed by all the reports and the news. It is not difficult to comprehend that these are tough times we live in, but I do not know what I should be doing about it. I mean I go on living my life, I still have my job, although every 401(k) statement is another blow, I am glad I am still able to make my mortgage payments and am glad I was able to get my mortgage last year when the credit crunch first became noticeable, I might well be the last person getting a mortgage with 10% down payment. But now I think I have changed a little: I have not contributed anything to my 401(k) for a year now, I think I’ll start doing it when things pick up again. I am spending less, and I put more money in my credit union account. I am more cautious and hope that I am not the next one to get the pink slip. The whole atmosphere is loaded with worry. But I just keep going on.
I watched last night’s debate and believe than Obama is the better candidate. McCain seems irrelevant and out of touch. And now Joe the Plumber is our new best friend. I’m sorry Joe, but yes, if your business is big enough to make $250,000 a year, then yes, you do have to pay higher taxes. This budget deficit cannot be getting bigger and bigger; somebody has to find a solution. So here are the numbers: 2% of Americans make more than $250,000 a year; at the same time this 2% makes 12% of this country’s income. So, yes, Obama is right to want to impose higher taxes on these people.
I think the new President should be someone who is able to comprehend the magnitude and severity of every situation, analyze, assess and offer working solutions. A leader in a time of crisis is someone who can offer calm and solutions; we do not need another bully, another ignorant spoilt brat to drag us deeper into the muck. We want a leader who will inspire the best out of the people working for him. No, we do not need a micro-manager, we need a leader to guide.