Posted by: Dark Defender | September 29, 2008

Its the End Of The World as we know it…and I feel fine

Yes I feel fine.  In fact I remain proud of the House GOP (though not so much their leaders), I urge them to stick to their guns and keep fighting this thing.

I am completely shocked  but I think this is a good thing.  As Ive posted previously, I think that the crisis is real, but that the bailout cure is worse than the disease.  Further I think the DOWs fall was the inevitable result of the fear mongering and apocalyptic talk by the Bush Administration, Congressional leaders and MSM.  They have been talking down the economy for two weeks, of course wall street is spooked.

However some perspective is needed. 

Take a deep breath and put this in perspective

Take a deep breath and put this in perspective

Today’s fall just is not the end of the world, its not even close.  Keeping in mind that todays fall was almost 7%.  Lets look at some worse crashes in recent history:

Stock market crash of 1987 DOW losses almost 23% in a one day fall.  Don’t you remember the horrors of the 1987/88 depression? You must remember how  “Reaganvilles” started popping up around the country to house the tens of millions of homeless and how they drove Mr. Reagan out of office by pitchforks and Republicans were doomed to a generation of scorn and irrelevance? No? Maybe because it didn’t happen.  Life went on.

Dot Com Bubble – Remember how the NASDAQ crashed losing almost 10% of its value in just a few days and a bear market starting? It was so bad the NASDAQ still hasn’t regained its 2000 peak.  The results have been horrible, tech companies in the US have failed and never came back, we are no longer a tech leader, our few programmers we have left now go India to look for jobs, our technological advantage in military equipment has evaporated and millions of investors and techies still live in Cintonvilles around silicon valley! Or maybe not…

9/11stock crash After 9/11 the DOW had its worst week in history losing nearly 15%, and this was after a massive bailout of the airline industry, insurance laws to prevent law suits, and promises from all the leaders of the country that things were ok.  Yet the stock market still crashed and as a result Bin Laden won.  Americans are living in caves now and being chased by Al-Qaeda drones around the country, we are forced to rely on Iraqi and Pakistani aid to survive and our President has been revealed to be incompetent and unprincipled  (ok ok that actually happened). 

 

The point is life goes on, this is not the end of the world.  Take a deep breath and get some perspective America.  We The People are right here and our elites are wrong and failing us.  We are in a real and true crisis created by our elites, and things are going to be ugly.  There just isn’t any getting around that.  But we need to hang tough and reject panicky injections of socialism, in the long run sticking to our free market principles which have built America is the best medicine.  It wont be easy, its going to hurt, its going to be hard, but we need to keep America, America.

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Responses

  1. […] Defender at The Cockpit had a similar take, though his came from the other side of the political spectrum: The point is […]


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