There are many days when I wish I had taken Economics at say, 11am rather that 8am when I was in college. I might have retained more of it and wouldn't be at such a loss trying to understand why our country's financial markets seem to be in such a tailspin.
I've always considered speculation in the economy to essentially be a house of cards because the value tied to the objects on the market isn't real value, it's projected. So when the bubbles burst, investors that took the risks of such investments should learn to live with the losses. I'm not sure that's fair though, considering that an overwhelming majority of folks rely on financial "experts" to manage their portfolios.
I'm not sure how effective the bailout will be in stabilizing the market, I hope it does some good because that's a lot of corn to waste if it doesn't. This is like giving "the invisible hand" a very expensive manicure.
What I'm reminded of is the Bush plan to privatize Social Security. Can you imagine the disaster that might have developed had we collectively decided to take that road? Yikes.
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