I am a Who Dat!

Sunday, February 20, 2011

Big 'ole Bubbles, in Our Economy and Our Memories...

Okay, I took a break from politics for a while, some might say I fell off the edge of the earth, but I must say something....

I am watching Face the Nation, and I am sick of folks saying how good it was during Clinton's years in the WH. We were all paper rich. We were all getting paid in options. Then I seem to recall a "little something" called the Telecom and Internet bomb. Stocks were inflated, people bought stuff against their portfolio, just like the real estate game, and then the bubble burst. Hourly margin calls, business models falling apart, layoffs by the thousands, and stock values tumbling. I lost a cool million from my portfolio in two days...

Lets stop talking about prosperity that was held together with soapy water, and full of hot air. Very much like the pundits and politicians I heard on the Sunday circuit today.