Just a reminder to those of you who are going to go temporarily insane when Obama loses ... once John McCain is in office you owe it to the nation and to yourselves to give him a chance.
As much as I may not like it, you can bet he's going to do some things about the environment that few other Republicans would. Personally? I think man made global warming is a myth, but McCain doesn't.
You can bet he's going to try to find a way to legalize millions of Democrat voting illegal immigrants in a way few other Republicans would. As much as I think that is an atrocity, and will speak out about it when the time comes, you might find comfort on that issue.
Democrats will still control both houses of Congress, barring a miracle, so it's doubtful McCain will be able to cut taxes, even though we need a tax cut, and corporations in America, especially, need a tax cut.
This has been a public service announcement. I think we're in for another 5 working days of messiah worship for Obama before the anger, fear, and resentment over this financial crisis settles into a full, clear, and complete understanding of where the blame lies. Democrats gave away so many houses to people who could not afford them, and did so with such an utter lack of understanding of the way economics actually works, that they have brought the entire world to the brink of disaster. But the entire world is learning the old lesson, once again, that there is no such thing as a free lunch, much less a free house.
And you thought we were demagogues over so many years of warning what disastrous consequences socialistic policy brings? You thought Ayn Rand was simplistic in her analysis that even a strong modern economy could crumble to the point of disaster when you turn your back on true freedom? Yeah, I said it. She was right then and she's right now, whether you like her blunt style or not.
I hope this mess doesn't get as bad is it still might. I put some funds into the market on Friday, and left them in. I'm not rich, but I have faith in the American economy. I have faith that the fundamentals are strong, which is a phrase too many liberals are scoffing at without thinking about what is really happening. I think when the stock markets open we're in for another wild ride, but I suspect and deeply hope they will stabilize and begin their recovery within the week. I could be as full of shit as a monkey throwing darts at the stock pages, but I'm putting money where my mouth is.
But there are some other reasons to be optimistic. For one, people still have jobs, and the sun is coming up tomorrow. The fear is that so many businesses are going to stop having the ability to pay salaries they will shut down in an increasing wave. But remember, the reason the Federal Government does not simply "print money" to solve the problem is that the world learned many times how disastrously inflationary that is. Shopping carts filled with cash in Germany, devalued by the end of the day, and all that.
However, there are trillions of fewer dollars existing in the world today than there were a month ago. Yet food is still growing in the fields, the global population is still as large as it was a month ago, oil is still pumping, our power grids have not been cut, and the Russians still love their children too (thanks, Sting, you shallow putz). In other words, demand is still demand, and supply is still supply.
What all this means is that the G-7 and the G-20 are still packed with panicking politicians who might screw this up ten times worse than it needs to be, but the markets will save us all. If a strong business supplying a product for which there is demand needs a loan in order to meet its overheads, then, one way or another, it is going to find someone willing to make that loan for a reasonable return.
You'll notice some geniuses in the world trying to outlaw "interest," failing to understand that interest is truly what makes investing possible.
If all the banks in existence continue to try to hold the politicians hostage by saying they can't or won't lend money, then they are simply opening up the door for enormous opportunities for others to take their place. There is wealth out there, it is possible to make loans, this is a very temporary panic, let the markets work.
The politicians can and may very well will make this disaster last longer and cause far worse damage than if they get out of the way and let the consequences for terrible decisions happen in the free market. They gave away so many thousands, and even millions, of free houses that we now have to pay the price for that socialistic ideal. It is going to hurt. It doesn't have to hurt too much, because in a free market the absolutely key and necessary information about real prices is transmitted far, far more rapidly than under any command and control system man could possibly devise.
People will continue to invest in skilled, intelligent individuals who are operating in their own self-interest. Let it work.
And, by the way, Obama and every single one of his allies, believe fundamentally in nothing but socialistic policies. He cannot and will not be elected for that simple reason.
