The Glass Is Half Filled

[JAMESBJOHNSON]

In the paper is an editorial about how dandy the economy is. The editorial writer's sentiments reminded me of Roxanne Appleby's optimism about our economy.

The newspaper writer asserts that crashing stock prices are a good thing because it makes owning stock affordable to the average Joe. Ditto for crashing house prices: That new home will soon be within reach of everyone!

Pollyanna Pundit suggests that we take a deep breath, contain ourselves for a modest period of time, and allow the fruits of the economy to ripen and provide a bountiful harvest...once prices hit bottom. We were drowning in money. Less money, like less water in a real flood, is a good thing.

I mean, who knew that prices are the problem! Be patient, and deflation will fix it all.

 

[jomar]

If so, you'll be just fine if you're a middle manager for a company like Shell Oil or Exxon - they'll pick up the difference on your house sale when they transfer you. All the other joe six-packs who are upside down on their mortgage won't be so lucky.

 

[JAMESBJOHNSON]

JOMAR

Maybe. But what I see is everyone is aboard the TITANIC, but some passengers are a little higher above the water.

 

[jomar]

Let's pray the bailout czar whizkid has something up his sleeve.

 

[JAMESBJOHNSON]

JOMAR

I'm not holding my breath for a miracle.

We'll survive this collapse the same way we always do: Average people will toil and accrue wealth, and when there is enough wealth the government will confiscate it or license thieves to steal it. THIS is the real business cycle.