Sunday, July 20, 2008

Wall Street Journal on Our Current Situation

If you are wondering how the Great Depression relates to our current financial downturn, read this article in the Wall Street Journal. In fact, read it even if you're not wondering about it. This line from the article sums it up for me.
"Leverage," as the laying-on of debt is known in the trade, is the Hamburger Helper of finance. It makes a little capital go a long way, often much farther than it safely should.
Well said. I haven't become a survivalist yet, but I am becoming more convinced every day that we are headed for some tough times.


vanckirby said...

i think you will think this is funny... if not, i dint mean to offend.

The Pope took a couple of days off to visit the mountains of Alaska for some sightseeing. He was cruising along the campground in the Pope-mobile when there was a frantic commotion just at the edge of the woods.

A helpless Democrat, wearing sandals, shorts, a 'Save the Whales' hat, and a 'To Hell with Bush' T-shirt, was screaming while struggling frantically, thrashing around trying to free himself from the grasp of a 10-foot grizzly bear.

As the Pope watched horrified, a group of Republican loggers came racing up. One quickly fired a .44 magnum into the bear's chest. The other two reached up and pulled the bleeding, semi-conscious Democrat from the bear's grasp. Then, using long clubs, the three loggers finished off the bear and two of them threw it into the bed of their truck while the third tenderly placed the injured Democrat in the back seat.

As they prepared to leave, the Pope summoned them to come over. 'I give you my blessing for your brave actions!' he told them. 'I heard there was a bitter hatred between Republican loggers and Democratic environmental activists, but now I've seen with my own eyes that this is not true.'

As the Pope drove off, one of the loggers asked his buddies, 'Who was that guy?'

'It was the Pope,' another replied. 'He's in direct contact with heaven and has access to all wisdom.'

'Well,' the logger said, 'he may have access to all wisdom, but he sure don't know anything about bear hunting! Is the bait holding up, or do we need to go back to Massachusetts and get another one?

Ragin-Cajun said...

Good one!