Of course it makes sense. I tend to agree with you. I am one of those who you refer to as were in High school in the early 90’s recession, cept it was more like grade school for me. I can barley remember the Bush#1/Clinton#1 debates, never mind the gas lines of the 70’s, I wasn’t born then. The only experience I have with true economic pain is from talking to my grandparents. They were farmers in the Depression, barley holding onto the farm. My grandma tells stories about how all the women traded grain sacks after the planting to get the same paterns so they could make clothes for the kids. Do you really think anyone wants to clothes their kids in grain sacks? But people make do.
I understand your point. I am worried about a small recession like the 1990’s today. I dont know how well we will stand it. I can see us so over leveraged and unable to cope that your worst fears start showing up. However I am young and an optimist and I feel we will avoid that, but I cant be certain. I wasnt trying to disavow any worry or fear. That is healthy, and needed.
My point was only that too many people, especially in our government or the special interest groups that think for it, use the worst case questions you listed to prod people into doing some quick fix that will just make it worse in the future. Look at this stimulus they are passing. 150-200Billion in wasted debt. My generation is gonna have to pay that back, plus interest. That is $$ that could do alot of good, but instead it is being wasted for a feel good election year giveaway to keep the same useless politicians in office. Why do we have a FED, FDIC, FBI, Fanny/Freddie and the myrid of other regulatory agencies if they wont protect us from the worst asset bubble in modern history? Not lame prosicution’s 3-5 years afterwards, but real regulation, where you look the corrupt _______ (insert job title) in the face and say “NO” before the fact. That is what I was trying to point out. Fear, especially mass fear, can make people do stupid things. Questions like “do you want….(bad thing)…or….(very bad thing) well then do as I say” have been used too many times in the worst of ways.
So we spin the merry-go-round on more time and delay the day the bill collector shows up. This is a much more likely way to get the date you fear so much. I dont want pain, I dont want suffering. I know damn well that everyone’s job can be lost. I dont want people on the streets or kids who can only afford to eat at school and go to bed hungry. All that can and does happen. I am not kidding myself. But I also want to settle the tab now, instead of later, because what I really dont want to do is clothe my kid in grain sacks.
