A Woman’s Guide to Our Crisis of Confidence & a Circus of Pundits

That stopped my explanation of the lack of viability of that dot com business dead in its tracks.  How insightful and funny!  There’s a good explanation of an asset bubble, if I’ve ever heard one.

So, back to our bad economic mood.  Sure, we have plenty of reason to be angry.  We have plenty of people to point our anger at.  We can blame the regulators, the loan agents, the rating agencies, Wall St., the Bush Administration and many, many more.  We can turn on CNBC and see Mark Haines be snarky, Larry Kudlow be angry, and Jim Kramer yelling at the top of his lungs.  These guys know what they’re talking about, right?We can join them in righteous indignation at our current predicament, put our money in our mattress, and white-knuckle it until the economy starts to recover. 

On the other hand, we can give a moment’s attention to the fact that Warren Buffett, notoriously silent about his investments, is publicly announcing not only that he is actively buying stock in US companies, but also which companies he is buying.  We can acknowledge the seriousness of this situation AND the fact that we’ve weathered worse.  We can learn the tried and true lessons of continued savings and investment, proper diversification of those investments, the long term viability of home ownership and the inadvisability of “get rich quick” schemes and “it’s different this time” explanations.  And, we, as both women and a society can stop buying things we don’t need and get out of debt.

None of those things, however, will improve our bad mood.  What will?  Why not go to www.thelintscreen.com and see what gifted writer Pat Scullin says about Madoff and the Fonzie scheme?  That’s what I did.

Then, we can go out for a walk, have a low fat ice cream cone and quit our bitchin’. 

It’s bad for the economy.