Thursday, September 25, 2008
I thought this pay phone, with its "destroy" and "rebuild" stickers, was a good metaphor for our dire economic time. The market surges, it crashes, it surges again; stocks go up and down; the tide comes in and it goes out. Destroy and rebuild indeed.
I haven't been too nervous about the markets and their fluctuations. I don't plan to cash out anytime soon, so paper losses and gains mean nothing to me. It's what happens over the long term -- say, the next couple of decades -- that will really decide whether or not I eat cat food in my retirement. Besides, I figure that as long as all our savings and investments drop in concert, we'll all be in the same boat, more or less. Everything is relative, right?
Which is not to say I'm shrugging off our economic crash. I think there are serious questions about the federal bailout and its viability, and who we're really helping. Some people need their money now, and they're going to be in pain. And Bush's speech last night did give me a sense of foreboding.
Still, this is all part of the long haul. It's a serious storm, but it's one we'll weather, one way or another. We have to. Destroy and rebuild.