I’ve had this one bottled up for awhile. The post of the year goes to Steve Thomas. It was in response to a post I put up on the economy and, as the days have gone by, Steve’s advice has become better and better:
“There comes a point in every storm, we’re all we can do is lash ourselves to the mast, let the storm blow itself out, and hope the ship doesn’t sink in the meantime. I read in the WSJ yesterday that developers are looking for their bailout. Where does it end? I think the main problem IS government intervening on such a massive scale. The market hasn’t a chance to work. I agree, the housing market needs to bottom out and stabilize. People who shouldn’t have purchased homes in the first place will most likely lose them, but we should remember it was government intervention and lack of oversite that set the stage where these people could purchase homes, not to mention a lot of greed on behalf of the lenders. I think in the long run, the country will be better off. Lending standards will lossen over time, but not to the point where people can carry as much debt, especially unsecured debt. Household debt is shrinking marginally. Let’s hope this trend continues. We each have a responsibility to right our own ships, get our own finances straight. Then we can hold the Fed and State Gub’ments accountable too.”
Sadly, there’s not a prize other than my unending respect…:)
March 7, 2009 at 2:33 pm
I don’t know Steve Thomas. Is he related to Steve Chapman?
March 7, 2009 at 8:45 pm
Andy,
The respect is quite enough, as well as the continued opportunity to voice my opinion.
In the days since I wrote the post, my point has proven true. Each time the President speaks regarding his plans to stimulate the economy, the major indices crash. Companies, investors and average folks have over-compensated as a result.
In as much as the generation that lived through the great depression learned the true value of money, so shall we. Many of the best lessons learned are “painful” ones. I hope and pray that the economy improves. I fear it won’t until individual Americans say “enough” to the insanity of the entitlement society.
March 9, 2009 at 9:22 am
Reminder-
Regular Manassas City Council Meeting tonight at 5:30 tonight
followed by citizen comment time at 7:30 and then a public
hearing on the manager’s proposed budget.