We who write editorials and particularly we who rant on blogs know in our hearts that we stand alone in the wilderness, baying at the moon. On the other hand one of my correspondents noted, “Six days and you have not opined via blog. You are a disgrace to the whole of blogdom.”
Alrighty, then. It is indeed Monday. Here it is.
Radio guy Josh Mothner ranted about one of my pet peeves this morning: our gummint in its infinite wisdom has decided to solve the credit crisis by … wait for it … borrowing money.
I am not an economist. I do not even play one on television. It seems obvious to me, though, that our economists are a wee bit warped. The world economy is tanking because the American economy tanked. The American economy tanked because we lost faith in it. We lost faith in it because a bunch of bankers decided to rip us off. That bunch of bankers decided they could rip us off because we live on tomorrow. We live on tomorrow because we want that bright and shiny object right now. We want that bright and shiny object now because we’ve learned we don’t have to pay for it. We got into this mess by our own avarice.
When you borrow money against your house to pay off your credit card, sooner or later you have to sell your house.
$700 billion and climbing.
Not even Bill Gates and Warren Buffett together has that in their combined piggy bank. And we can’t just print it.
Oh. Wait. I know! We’ll issue more Treasury notes. We’ll borrow it!
Let’s see. The banks don’t have enough money to lend to their customers so their customers can buy more stuff from companies that depend on the banks to borrow money from.
So tell me again exactly where the $700 billion and climbing will come from?
Oh. Wait. I know! We’ll borrow it!
It is interesting that, in the middle of the borrowing fever, the number one radio advertiser on that morning radio show is … Rolex. Bright and shiny object anyone? Unfortunately nobody listens to Mr. Mothner, either.
I wish, Dick wrote plaintively, that someone other than the Man in the Moon took these brilliant analyses to heart. There is a chance for a curmudgeon like me, though. I found out today that I’m going to be Andy Rooney when I grow up. See, I’m already growing his eyebrows.