Monday, September 29, 2008

Fear of the Unknown

I am sitting at my workstation aghast.  I simply can not believe that with the world insisting that the US Government act to curb the spreading credit contagion, that our government can not get past partisanship to create forward momentum.  This in the face of a complete shutdown of the credit system.  They simply let the bill die.  The US Government is fiddling while the entire economic system is on life support.  I have never been more ashamed, of the inaction and the morass of our political system.

So now we are into the unknown.  I liken it to the feeling one must feel when one finally jumps off a bridge to end their life.  There must be point where the din, and commotion of the world just disappears into the whisper of the wind running past your ears; and you wonder what comes next.  You are sure you are going to hit bottom eventually, but know you will never know what it feels like.   Mostly because no-one ever comes back to tell you.

My readers, we have just been pushed off the bridge by our own representatives.  No one really knows what comes next.  I follow about 20 different Wall Street and Banking analysts and none of them have any idea what happens to the credit markets without an implied US Government backstop.  This should worry every one of us.  We are perpetually going to be waiting for the other shoe to drop, mostly because no one knows where this all will end.


1 comment:

Unknown said...

The last shoe drops when the Japanese and the Chinese stop buying US treasuries. While the full weight of this bailout wouldn't put us over the financial edge, the world will at some point decide that enough is enough. That will be the bottom, but it won't be a brief one.