Stand around a fire and chant
Posted by hanson807 on December 16, 2008
or dance and sing to the gods. This is what Paulson and others on the hill are doing today. If you watch the stock market, it went up on his announcements. But why? Are people not losing their jobs? Are people just real sure that they will have a job? Because if the answer to those is no, the next question is tough to answer. Why do they care if the rate is cut, are they going to borrow money when they think they are going to lose their job?
For too long these guys have had the illusion that they are actually in control of the economy. They sit down and have meetings about how to make it better. They say go left and it went left and they were left with an illusion of control. Well, they said go left this time and it went right. News Flash: They aren’t really driving it. There are 300 million people in this country and they make choices as consumers. They make these choices based on some budget that matters to them. If they are afraid their budget is going to get cut, they aren’t going to borrow money, buy new cars or buy a house. That is what drives the economy. Not some little guy in an office some where. Don’t believe me, think I’m wrong? Here is an easy test. Where are you going for lunch? Who made that decision?
They remind me of the ancient shaman who danced around a fire singing for rain, when it rained they did it right and were happy. When it didn’t they stood around and wondered what they did wrong.