The government is jumping into the private market with both feet. The reason is admirable – there is a cry to stabilize the market before things fall into complete chaos. But once the government gets into a situation is can be almost impossible to get them out.
The $700 billion dollar package that was thrown together just a week ago by the government has done nothing to sooth the concerns on Wall Street or Main Street. The figures in the market have dropped to the lowest in five years. Since passing the bill wasn’t enough the government is going to step up the activities even more.
The President has been meeting with other leaders of the wealthiest nations to try and attack the situation on a global scale. The problem is that no one seems to be sure how to fix the situation or even if the situation actually needs to be fixed.
It might be a good idea for the government, and everyone else for that matter, to sit back for a bit and see where the cookie will actually crumble. In the end, the stock market was expected to fall – sometime and in great ways. In the end, people that have stretched their credit beyond any reality would have to feel that credit slap them in the face.
There are a lot of things that the government needs to be doing these days. ‘Stabilizing the economy’ is probably not the best way to be spending our money.