Up 700 points: Woo-Hoo

Warning–Tom Talks Tough on the Economy.

I have very mixed emotions about the state of our economy right now. In my mind it is nine tenths phony and 10 percent hog-wash. On one side, I do not have to worry about my landlord selling the property out from under us, yet now there could be a mortgage meltdown that may involve foreclosures and panic runaways now that the bubble seems to have burst. Who knows as the Taro cards seem to tell a better story than the news can.

I feel that it is wrong that the U.S. tax payers had to flip the bill for the wrongs that the greedy Bankers dug themselves in with, and that the rest of the world, including Canada, now get to ride on their backs as investors slowly crawl out from under their rocks. I though Good’O George was a laissez-faire neo-conservative, not a skin-deep socialist, but then again that socialist spirit only serves the blue bloods anyway…. What happened to free enterprise, market economy and for-profit private America that we have seen in the past?

I watch gasoline prices bounce back and forth, up and down, meanwhile feeding uncertainty and havoc in my wallet. I wonder if I will have a job to go to tomorrow–perhaps I may not be able to afford to drive to it? Even so, I have a hard time believing that this is a true market economy. I mean just look at how fast the hurricane Ike scare sat in, with the threat of U.S. refineries being cut off from electricity, and then how fast that same tank of gasoline changed price again as it slowly sinks back to the previous price level of last week. I smell something fishy when the gas station is still serving gas without a resupply of fuel since two weeks ago? Yes, it is seemly very phony….hummmmm

At least here in Canada that has not happened yet, I mean, our government having to use the tax payer bail-out trick. We are in an election, just like the U.S. is, so it could be only a matter of time before it is our turn. I for one do not want my tax money given to Banks, or any business for that matter, who fouled their own sheets because of greed. I believe that true market economy is needed, and I agree with CBC News World that this is a well needed market correction. The fears of the 1929 market crash is insignificant because they never had credit cards and bad mortgage practices like we do today.

Hey, bring it on–bring it on. Oh, that’s right, I almost forgot, I have no debt. Sorry my credit ridden friends, I do apologise. I am sorry–truly I am. Will someone worry about the environment for a change?

One Thought on “Up 700 points: Woo-Hoo

  1. I appreciate and trust your reportage Tom.
    Thanks!

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