If you flunked Economics 101 read this.
October 7, 2008 at 9:10 pm 2 comments
I have been searching for an easy to read and comprehend explanation for the financial meltdown we are experiencing in our country. If you are like me you find it hard to understand how things could get so bad, seemingly over night. The fact is it didn’t happen over night it just melted down over night.
After some serious searching for help in understanding what happened I found this on one of the blogs I frequent. It is a bit of a long read but really worth the time. I now understand what happened and understand why the bail out was so necessary. Will it work? Time is really the only thing that will tell. Find the astute article here.
Entry filed under: Culture, Faith, Finance, Financial meltdown, Government, Money, Politics, Thoughts.
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the view from the juniper tree 
1. Mitch | October 10, 2008 at 11:54 pm
Good read. Long story short, when we spend currency we don’t have, we need to expect that the bill will have to be paid at some point. Sooner or later. Whether it be financial, emotional, physical, or other, we pay for our actions with our various forms of personal currency. Most of the time the bill comes with interest and penalties. However, if we make wise choices, our actions yield positive emotional, financial, physical, spiritual, and other returns. While we never feel good about bad things happening in our country’s collective finances, I think it’s about time our economy slows down. We have been spending money we don’t have for quite some time. It’s painful, but it’s the only way to get back on track. I’ve experienced this in my life for sure. I don’t own a home yet (we expect to be getting into one very soon), but I’ve had to pay steep emotional, financial, spiritual, and other penalties because of some of my poor decisions. My personal economy has had to slow down. It was the only way to build up a positive emotional cash flow with my primary “creditor” if you will. I think the same truth applies to our nation’s economy. What do you think?
2. Royal | October 8, 2008 at 8:58 pm
I really enjoyed the article you found on that blog. I understood the overall picture of the downfall, but now I see how different companies were driven to bankruptcy by different means. Personally I would have let them all fail, not because I am malicious but because I believe if you make poor decisions you need to live through the consequences. Sometimes there is nothing more sobering than a good hard slap in the face, especially one that lingers.