I'm at a loss for words this morning. I have some articles I am working on but they are all "in progress" and seem to be incomplete. Some are only a few sentences long, others look like they are too wordy and going nowhere. Still others make no sense to me when I open them now.
Still, I like to have something new every day so I am trying a little stream of consciousness. That means this is just tumbling from my brain, down through my arms and out from my fingertips. I am tempted to leave in the typos just to make it more realistic.
I thought about commenting on the economy since it seems to be on everyone's mind these days. I feel a bit out of touch regarding this. As a retiree, I am on a fixed income. That could be bad but I made sure my debts were paid, my house paid off, and my expenses would likely not exceed my fixed income. So, the economic turmoils of the past year or two haven't greatly impacted me. I have only a little money invested in the stock market and I am having fun, actually, playing with that.
Anyway, that's why the Thing to Ponder and the Cartoon are about the economy. Unfortunately, I can't think of anything witty, clever, or acerbic to say about it.
I read an interesting piece this morning, an opinion column on Bloomberg.com, which basically said the bailouts are like a Ponzi scheme. At least, that's what I got out of it. It made sense to me that way. And then I started to think that economies are just Ponzi schemes.
In case you are unfamiliar with the term, a Ponzi scheme is a clever scam where the older investors are paid with the proceeds of the newer investors. Eventually, the scheme falls apart when the number of new investors is insufficent to support the number of older investors.
Since all economies depend upon growth, it would seem to me that all economies are the same kind of scheme. When the growth disappears, the bottom drops out. Certainly all governments are set up that way. Why else would they promote growth? Businesses are all designed that way. Sell more to pay for the previous investments in product. The stock market especially is designed this way.
The only real difference is there is no underlying value to the Ponzi scheme. Looking at the economies of the world today, I have to wonder whether there is any underlying value to them.
Just some food for thought.
A Night Unremembered
9 years ago