It's been a while since I've done a political blog...the reality of what's transpired over the weekend is slowly sinking in. Does anyone else out there feel as though we are facing historical times, a la Great Depression? Times that will be remembered until our grandchildren are asking about it? Most of the commentary is suggesting that the next several years are going to look pretty stagnant. And outright disaster has been narrowly avoided, maybe. I sure hope. I don't know about you, but I am feeling more than a little resentful toward our seemingly ignorant (p)resident who all summer continued to suggest that our nation was "not in a recession". Excuse me?
We're told now that the Feds stepped in because all credit markets were about to freeze. That people weren't going to be able to get home loans or car loans. Which would screech most economic activity to a speeding halt since Americans spend on debt. For an interesting discussion on this topic, check out this Op-Ed called Punctured: Bubblenomics. Seems we've been riding the bubble a little too high for our own good, and now we're about to get what we had coming all along.
Here is Obama's perspective on the economic crisis:
As each day passes, I am increasingly convinced of the DIRE NECESSITY to elect Barack Obama in November. I lie awake at night wondering how a stay-at-home mom living in a small, remote village in northern California could possibly do anything to influence that outcome. But I keep rubbing up against a feeling of "how can I NOT do anything". People everywhere, unless they are very wealthy (and we all know there aren't very many of them) are going to be MUCH worse off if we continue this trajectory we are on much longer. This Republican reality that we're living, the fallout of which my daughter's grandchildren will be inheriting and paying off forever, is not my idea of a world I'd like to be living in. We have got to put our foot down. THE BUCK STOPS HERE!!!! I am investigating the options for action, like actually volunteering for the Obama campaign. They have a tool on their website called Neighbor to Neighbor to help get you started. If you're inspired, go for it, we can't afford another four years, lest we have to wait in bread lines, and all lose our life savings. How far are you willing to go?