Mixed Signals
So last night, Wachovia bites the dust. Today, the house is to vote on the bailout (as of this writing the house has already canned the plan).
But what is waiting in my E-mail inbox when I get to work?
A notice that Bank of America has increased the limit on our credit card.
I'm not sure what to think. Does this mean that Bank of America is a solid bet? Or rather, does Bank of America think that I am a solid bet?
Entertainment
On Saturday, our family started the day a bit unusually. Our normal Saturday routine is to head over to the Franklin Farmer's market. Well this weekend we had other plans.
I put gas in the mower. I then hitched up the dump-cart which Andrea got me for my birthday, threw the family in the back and then proceeded to drive around the front yard.
Now I'm fairly certain that this very scenario has been described in one of Jeff Foxworthy's routines through the years, but it was fun nonetheless and the kids enjoyed it.
Opinion
The house voted down the bailout. At least that is what they said when they voted. They might vote again on a similar bill Thursday. There might have been some hanging chads in today's vote or something.
Anyway...at the moment, I am proud that we at least have two more days to allow free markets -- as opposed to a central planner -- to decide where our money does and doesn't go. Call it a gamble, but I like my chances on the open market.
To hear people like Obama (and to some degree Bush and McCain as well) say that free markets have failed is short-hand for I like socialism more than capitalism. Ever heard of the business cycle? There are ups and downs in any economy. To say that free markets have failed because we're now in a down-swing is pretty short-sighted at best and downright stupid at worst. Yes, the stock market is down, today. It would have been down today anyway with the Wachovia news. And it might be up again tomorrow. Who knows? If anybody knew for sure they be in the game making money hand over fist one way or another. What about Wachovia, you say? Shouldn't we have more regulation to prevent bank collapses? Wachovia screwed up and now they're out of business. Looks like they just regulated themselves fairly efficiently if you ask me.
That's all the opinion I'll make you suffer through today.
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BoA thinks you are a stupid.
ReplyDeleteYou should find one of your neighbors that is willing to race his family against yours using the mowers.
Our goverment is comprised of a majority of socialists and we will have a Marxist for president in 34 days. Enjoy your freedom while it lasts.