We need a recession

Not my words. That’s a direct quote from my oldest. “We need a recession. It’s the only way everyone will back off from so much spending.” We went on to talk about how consumer spending has falsely held the stock markets high, how cheap money has lured young people into housing loans they can’t fulfill. How government spending is increasing just because they can get away with it in boom times.

Ah. Sometimes as a mom you sit back and think, “Ok, maybe I didn’t mess up too badly after all.”

We’ve always discussed money and markets and general economics. The middle child once trod downstairs and declared, “I sound like Alan Greenspan,” when he had a bad cold. He was 8. The spouse has a photo with Mr. Greenspan on his desk. The kids have already started investing. I guess you could say we’re engaged when it comes to this subject.

The last few weeks have not been fun. I made a slight adjustment at 13,000 on the Dow, but not much more. It depends on what you want from this market. It’s not the end of the world.

I’m not impressed with the economic stimulus package that’s coming from Capitol Hill right now. Congress is threatening to step in and throw money around that they don’t have. The fed seems tempted to intervene for the wrong reasons. Local leaders fail to curtail spending and manage within reasonable means. I can only influence two of three here, so I’ll send my e-mail to Congressman Sensenbrenner and give him my two cents worth of an opinion. I’ll also work to influence the upcoming local school referendum.

Sooner or later the wild ride will stop. If we continue to fake our economic health, though, I think we’re in for a much more than expected.

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There are some other things we can discuss someday. Let me know what you’re interested in right now. One thought is all of the young adults calling themselves “Libertarian”. Another is the rebranding of the Democratic Party into “Progessives.” Has anyone seen those commercials?