Since the dawn of the modern era we were told and taught as children to save the few pieces of loose change given to us by our parents when we go to the store with them. We were told and taught to value the dollar and to never get ahead of ourselves or lose sight in what we need as oppose to what we want. The differences between “wants” and “needs” have been blurred by the financial bubbles that come along every so often and cause us to get sucked in to a “sure” thing. However the only sure thing is the lose of money and financial meltdowns; as seen here in American today.
But I have the remedy to your economic common cold. And trust me, despite the media diagnosis of a terminal economic cancer, this is indeed common. It is not realistic, nor promised that any economy in any country remain fail proof. It is also not realistic that the American economy, the largest, most dynamic economy sink to the bottom of the ocean for good. Our economic structure impacts even the most developed and rapidly developing nations. China, for instance experience 8% growth last month, and now they are talking about an economic stimulus to jump start their growing economy. But what we possess, at least originally over other nations is an abundance of common sense. Common sense is the best tool in which an economy be managed and grow further. It’s common sense that prevents the bottom from falling out of economic foundation; it will be common sense for now on, that remain the steady hand on the tiller and the only hand I might add.We don’t need Czars or “absolute” Treasury Secretaries who doll out the payola and determine who fails and who doesn’t. You see the free markets and capitalism are based on the impression that free men are fully capable of using common sense to dictate the markets and the economy. As a free and just nation we must continue to promote more common sense and less greed, less speculation, and less government bailouts and government surgical procedures that prevent markets from opening and growing.
If I were president elect Obama I would let the big three fail and file for chapter 11. Of course he won’t do that because the unions donated big bank to his presidential campaign. But a smart man cuts his losses when he sees them starting to pull him under. If Barack Obama is a smart man, and politically he very well is, he’d let some things go under and cut his losses. There’s nothing in the economic rule book that says we cannot start from scratch and rebuild. It certainly never stopped our founding fathers from developing the idea of free markets and capitalism when the rest of the world really never caught on. What’s stopping us from going our own way on this? From managing our own economy and looking out for America’s interests? Do you honestly think China or Russia cares what happens to someone elses economy over their own?
Common sense, self control, contentment, hard work, pace, consequence, these are the basic tools needed to run an economy. And with these fundamentals we will rise above this notion of “I want it now, no matter what” The reality is look, despite the warm feeling it gives you when someone buys their first home, if you can’t afford it right now, you just can’t buy it right now. The government needs to step away from the Publishers Clearing House business and start acting like a competent, well structured government again.