Tonight the Senate will have their turn to vote on the “invest In America” bill. Of course it’s a little different then the one that was voted on by Congress Monday. How is it different? I don’t know. The politicians need to vote on this issue, one way or another. With further investigation into this mess caused by over extended credit, I don’t know if it’s really wise to vote for the bill, but I will say that if they vote on it, it would be no one’s fault but our own for letting the country get out of control. It’s about time that this country de-leveraged all that has been extended.
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The world can’t run without credit, but with everyone wanting to live the American dream of wanting their own home and drive nice cars, we lost sight of what’s really important. If you want to have nice things and live in a house that you own, you need to have the money to it. It’s not right that the people who have been responsible in their financial decisions and paid their bills should have to save the companies that took advantage of the system or even help the people who tried to live outside their means.
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In the 1990′s the politicians sold the American people on the idea that it’s possible to get that dream. Then Congress (actually it was the Democrats) refused to put regulations in place to protect the economy from the problems we’re facing now. Add on top the people who didn’t have the financial intelligence to read the paperwork that they were signing nor did they care.
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Now we’re at the point that we need to de-leverage the economy and pull back the reins on how business is done. The stock market is no different. The companies have done the same thing and as investor and traders we need to accept the fact that this will be done with or without the bailout plan. I hope that it won’t hit us as hard as they make it seem or as long that they predict.
We as a country have always come back and become stronger in the past and this won’t be any different.
A friend of mine just emailed me one of your articles from a while back. I read that one a few more. Really enjoy your blog. Thanks