Well the markets continue to dig holes. As I’ve been telling people, and I am by no means an expert, but what I do know is we don’t to hit historic levels. And we are…

Desi asked how this will affect us. Well, I could lose my job but, so far, the tech sector hasn’t been as hard hit this time around. Our bank accounts are protected (though that does remind me, I need to open another account – we’re only insured up to $250K. Hey, I can dream!). Luckily our cars are fairly new but if the Neon had lasted a couple more years we’d be looking for a car and that’s not the same anymore.

But our 401K’s are taking a beating. Even between my fingers I can see the damage that has been done – 18% down. I’m glad my retirement plans includes working at Walmart at a greeter – though I suspect many are adding this to their plan now.

There are a number of Rats that have been flushed out into the open and I believe its just the beginning of the witch hunts. I also believe the US will be vilified throughout the worlds’ markets. And we can take the same approach we have with our financial leaders. We didn’t ask you to invest in our markets. It was your choice.

Though the next question I ask is are we leaders? Do we take responsibility though its, technically, not our problem? As the golden rule applies to the individual, I believe this quote applies to the masses: “the only way to lead is by example.” (I cannot find who first said this, please let me know if you know who did.) I believe we have a responsibility as the founding global culture.

There are a couple couple interesting articles on WSJ there are interesting from the global perspective and from a historic perspective. Have no doubt there are rats to be skinned but most will run away unscathed.

Another classic from Tina!

Wow, what fun we’ve had these last couple weeks. Watching the little Wall Street graph go up and down. Though yesterday was the largest single day loss on wall street, it was only #17 from a percentage perspective. It was the fourth largest percentage in ‘modern times’ – meaning the drops in recent memory (the rest were around the great depression, except 1987’s October 19 – which holds the record). But when George Bush came on the box speak to us over a week ago, I couldn’t help but picture GW turning to all his Wall Street buddies, and in his best Rodney Dangerfield – “Hey everybody, we’re all gonna get laid!” And Wallstreet loved it – but Liberty wept.

Make no mistake, this is a serious issue. Estimates range from half to 1.2 TRILLION dollars for actual bailout. The Bailout will be limited to $700 Billion Dollars (did you remember to use your pinky?) Remember that email about all Michael Jordan’s money and in the end Bill Gates farts and makes more then Michael? George Bush just farted but instead of making a thousand time more money, we’re that much in debt.

How did we get here? The housing market was the tool but the real issue is the financial institutes backing these and other investments. Or read Michel Chossudovsky’s ‘Global Financial Meltdown‘ (this reads like an economic spy briefing, interesting but a little technical). But we’re still the ones footing the bill – again.

And those bastards on Wall Street, and their friends in DC won’t feel a thing. So, finally to my title – what do you do when you have 150 Enrons? When you have 1250’s mismanaged companies and the exec’s and the chair people that are approving the abuse of the system in the name of competition, there should  be  a price they pay when it all comes down.

Honestly, I’m not sure how to feel about The Bailout. On one hand, we may be on the verge of an economic meltdown and we need to start sandbagging or everything going under. On the other, we didn’t create this mess – why should we clean it up? Shouldn’t Wallstreet pickup after themselves?

Tell you what – I’ll agree to The Bailout if part of it includes prosecution of those who broke the law and a 50% Bailout Tax on the profit of those people or institutions that gained financially in the last 10 years from the housing market boom – losses are deductible. The only exception would if you own one house, or two houses for less then 12 months. All profit gains over the last ten years from this housing bubble will taxed at 50%.

Holes are beginning to appear on Main Street. This is definitely affecting the presidential campaigin. This will definitely be felt by you and I. Regardless of where you stand on Global Warming, you don’t facts want to cross the line of ‘historic events’. Regardless of where you stand on The Bailout, we don’t want our economic numbers to cross into ‘historic events’ – and we are.

People react very strongly when when their role changes from observer to participant. Unless you are already involved in the financial industry, our perspective is changing. It did if you lost your job. It did if you were rejected for a loan. It will when The Bailout passes, and it will for our children.

If you haven’t seen this its worth a watch – Tina Fey is great

Normally, I’m fairly sensitive to people’s views on Politics but this one has me stumped. First, know I don’t like Republicans and I don’t like Democrats. I have voted independent for 5 of the last 7 presidential elections. It started with John Anderson in 1980 and continued with the Libertarians in the 90’s. If they had a Chaos party I would vote for them – the bottom line is both Republicans and Democrats are large cumbersome machines that have never represented my views. After all, you’re not electing a person, you’re electing a political machine.

Some say I’m throwing my vote away. Its my vote, I can do that. I’d rather write in ‘Mickey Mouse’ then endorse one of these shadowy imperialistic machines. I did vote Republican and Democrat once each. Republican for Ronald Reagan ’88 – a euphoric moment after I was married and didn’t want to ‘throw my vote away.’ Democratic for John Kerry in ’04 – and I was ashamed when I did it, your vote should not be used as a weapon but I couldn’t see four more years of our current ‘buddy’; hmm, I guess I did throw my vote away.

What I don’t understand is why this race is so close? To quote Ronald Reagan, “are you better off then you were four years ago?” Some seem genuinely surprised to hear that G.W. had the highest approval rating of any president. Of course, none are surprised when you say he has the lowest approval rating. I find it very interesting that dispite the fact we are ‘almost’ in a recession, the housing marketing is hitting 40 year lows, we’re in a generally unpopular war and the federal government has taken the historic move to take over Freddie Mac and Fannie Mae yet McCain actually leads Obama in the polls.

Keep in mind, my perspective is that both parties are political machines and not to be trusted. Currently the Democrats are the lesser of the two evils. How does someone rationalize that the crew that took the boat into uncharted territories is the crew that can bring you back? Better the devil you know? Man, that’s been one helluva devil – these last 8 years. And things are ending on a low note.

I find it funny that McCain is the candidate for change. (No, Obama is the candidate for change, no McCain, Obama – Hey, didn’t I see this in a Bug Bunny cartoon?) One man doesn’t run the country so to be fair, you can’t blame Bush for all our problems. Yes, he pushed the war in Iraq but honestly, I don’t think he smart enough to push all the buttons. Again, you’re not electing a person you’re electing a machine. Part of Bush’s machine was Cheney and Rove. Theses parts are being replaced. Is McCain really going to completely change things? How many times are we heard that from the Chicago Bears? You can change the head coach but still have the same controlling owner, are you really getting a new team?

If you actually buy into the two party system and you actually want a change, I can’t see any other choice but Obama. If you want change but you can’t bring yourself to vote Democrate you’re living in fear and denial. You can’t begin a change if don’t change owners. Change is scary and it should be, but its also liberating. And if you don’t want change, hats off to you, you have more balls then I. And may you are better off now then you were four years ago.

Me? I’m waiting for a righteous shiny independent candidate to pop up out of nowhere in these last few weeks, more maybe Bob Barr, the Liberarian candidate. Meanwhile, I’ll be waiting here – sharpening my vote…

Just a quick cartoon —