Up, Down and Around Our Town

It's kind of like the old Dolly Parton story - so many ways and so little time. Or, where to start. Just some keen thoughts for us to consider, particularly with less than six weeks prior to Christmas. Ah, Christmas? May be somewhat different this year.

Unless we all get in line for the bailouts. Notice the plural on that noun. Seems that all are sensing the opportunity to get some of that free money by just posing as a bank. Worked for American Express. And, while we're at it, why did Treasury Secretary Paulson decide to change the rules after the first $250 billion went out? My thoughts for this end-run, unprecedented ponzie game that has been perpetuated on the American Taxpayer was to pay down those bad mortgages, prop up the housing industry and get things back to some notion of normal. Obviously, I'm mistaken.

Which brings us back to the chicken and the egg concept. Seems that the prime domino in the breaking chain was the proliferation of sub-prime mortgages. Given to people who couldn't afford a Yugo and sold to the highest bidder throughout the globe. And why not? A $400,000 home that was really worth about $150,000 with the speculation that it would be worth $750,000 in about sixty days. Buy now, move up later. Gee, sign me up. I am certainly happy that such a trend missed the Midwest.

Then the real money mongers got involved. The likes of the late Lehman Brothers, Fannie and Freddie who "guaranteed" those loans only to see the roof fall in and crying for help from the boys in DC. And let's not forget those serious financeers from AIG. Using the script from the Jack Nicholson movie, "The Last Detail", they went on a partying spree that exceeded a couple of million bucks and then got in line for the free taxpayer money from DC. Shame on those frat boys. Or, shame on us.

The President-Elect has a myriad of places to start. The auto industry is in disarray because of deals made in the 70's that they cannot honor and the fact that their price of the product manufactured puts them at a disadvantage. So, now they want $50 million. Granted, 1:10 jobs in this country are tied to the auto industry and perhaps this is a good idea, but who is watching and what are we expecting? Obviously, no one is watching Mr. Paulson, so I suggest that the President-Elect start right there.

Housing? Price it accordingly, borrow within your means and the joy of home ownership can be yours. Nothing more and nothing less.

Credit cards? Start paying or start getting in line for the free money. We are a world that runs on credit. Webster points out that credit is defined as an advance on your ability to repay the debt. Or, as my father used to say, "pay your debt before you borrow more. "

Iraq? Ten billion a month. Start the process of redeploying the soliders from Iraq and give Pakistan and/or Afghanistan a try. The enemy actually is there. Or, put your money in Homeland Security and quit playing games that we cannot possibly win.

Retailers? Could be a tough Christmas. Why? Folks with any sense and spending. Down almost 3% in October and continuing to downsize. This slows the flow from manufacturer to wholesaler to retailer. If it won't sell, it won't be made. Domino after domino.

Jobs? Dropping in the 10,000 a day mark for the last week or so, signalling that the "cut and run" mentality is alive and well. Citibank, Circuit City and the likes are on the downslope. Without jobs, no mortgage. No mortgage, no house. No house, no ability to create your own wealth. No job? No spending.

But, the real casualty is consumer confidence. There is such a backlog of anticipation for the arrival of President Obama that he cannot possibly live up to it all. But, he has lots of choices to make and here's hoping he makes them quickly and fairly.

We'll watch the first 100 days very closely. Our hopes are that we can get back to the sensibility of the capitalistic system and put people back to work in jobs that matter. What we have now figured out is that if you want to make a profit, you actually have to make a tangible product or provide a tangible service. Perhaps that is the best place to start.

We have had problems in the past, but perhaps not quite as many as today. So, Mrs. Pelosi, answer your phone and be part of the solution rather than a silent part of the problem. W? Get your office cleaned out - the new President actually appears to have a clue. Wall Street? Quit lying to the public. Today.

The outcome is still on shaky, but optimistic ground. Futures are at stake, families are at stake. Now we can use that tried and true "family values" adjective. It means something. Always did.

We need to return to a sense of stabilty, educate our children, promote our economy and remember that we have more resources than any other country in the world. But, lining up for the government to take care of us smacks of a major move backwards. Leadership and confidence are the cornerstones of policy. Now is the time and this is the place.

I have a hero who is counting on this for her future and that of those who love her. Don't disappoint me now - we've had enough of that. Plus, with the soap opera in the Quincy Fire Department, we have plenty of distractions of our own. More on that later. But, make your shopping list and go fill it. Today. Till then, and as always, we'll see you next week. Promise.....