Never do understand Economics

Apologies in advance for those who do not appreciate sarcasm.  I heard the quote from Churchill on NPR, found it amusing which then started the chain of thought, which only goes to prove that it is easy to slide downhill.

As the American government and politicians continue to wrestle with the financial crisis and as they try to decide what to do about it, we can take some comfort in the words of Winston Churchill: 

“You can always count on Americans to do the right thing – after they’ve tried everything else.”

Meanwhile, the AP reported today The Stocks Surge Higher despite the inability of the politicians to come up with a solution (proof that the free market works?).  And the very people who have seen government interference as part of the problem with the economy now seem anxious about the inability of the government to do a bail out. 

My non-economically minded brain watches all of this with demure.  Not so long ago some of these same people were advocating taking money out of the Social Security System and letting citizens invest the money themselves.  If that had been allowed to happen, we would probably now be watching Washington have to draw up a bail out of Social Security by creating a new bureaucratic Social Security System to keep Social Security and countless retirees afloat.  And it too would have been done by the government borrowing even more money to bail out all of the failed investors.  But then who is going to bail out the government when it sinks under the weight of its debt?    Not to worry – all of the Wall Street Investors, bankers and CEOs who created the current crisis would no doubt be able to come up with a financial scheme like the one they used to create the current crisis to bail out the government – they would use borrowed money and inflated bottom lines.   By having a circular chain of lenders borrowing from debtors the system would – well it would get us to where we are.   And some would settle for that as they only fear what comes next.

One thought on “Never do understand Economics

  1. spiritualway

    For someone who claims not to know much about economics, you certainly have a much better grasp of it than many of the “talking heads” the TV financial comentators trot out as “experts”!

    It has been my contention through all of this current “financial crisis” that any citizen with sound ethics and a good philosophy of life can reason through it.

    I have read many, many posts that begin with something similar to “I don’t know much about economics but”; in my view many of these are a “cop-out”, just do not want to face the fact that our narcissisist culture has hit a “major bump in the road” (maybe even the end of the road)!

    Hope you continue to post your economic perspective; I read from your site every day.

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