Wednesday, September 24, 2008
Years ago, while studying for an MBA, I took a course in macroeconomics. I found it incomprehensible then, and I find the United States' current economic situation equally incomprehensible now. The more I read and listen to various opinions, I wonder if anyone really understands it. What are we to think? What are we to do?
As baby boomers, my husband and I are approaching retirement. Our retirement accounts are decreasing in value. Our house is decreasing in value. We were thinking of paying off our mortgage, but now do we want to tie up cash in a house that might have little value? Do we take all our cash and stick it under the mattress? Is the sky really falling? Who knows?
Are we victims of "massive fraud" as Bob Barr claims? Is Secretary Paulson really "incompetent" as Lou Dobbs claims? What about former CEOs walking away from companies they have ruined, with hundreds of millions of dollars in severence pay?
It's all still a mystery to me. Does anyone out there understand it?