Recession? You're Kidding!!
So... news headlines tell me Bernanke's saying that without this bailout, we're in for... a recession!
Ummmm... I'm pretty sure most of us have been bracing for the fact that we're already in what feels like a recession, and one that could very well become a worse recession, certainly much worse than that mini-recession (practice!) we had last time around, which didn't hit all citizens in the gut like this one threatens to do. (Trust me, I had plenty of experience losing jobs/trying to find jobs in the post-dot-com bust recession, as did many people I know, but I also knew people who were relatively unscathed other than hits to their stocks ("Kozmo.com, what a great idea!") and 401(K)s.)
OK, now here's another thought. Recession -- that is a normal part of the business cycle, if I'm not mistaken. Nobody particularly likes it or enjoys it, but it's natural. What, am I insane to think that? Did something change, has somebody outlawed recessions? (Not surprising, maybe, with all the sort of socialist type stuff going on, I guess. And come to think of it, I've long thought the housing bubble was kind of a soft landing strategy from the last recession, there was an awful lot of, "At least the housing market's doing great!" talk back then.) So they think they can engineer it so that we don't have an ugly recession? I'm worried all that's going to be accomplished is setting ourselves up for a really slow, painful, ugly decade by trying to tinker our way into a "soft landing."
Maybe I'm missing something here. Or maybe they don't want to use the dread "d" word since apparently the use of negative language has also been frowned upon in the mainstream media: http://www.clusterstock.com/2008/9/no-panic-apocalypse-free-fall-crash-pandemonium-or-meltdown-
However, look on the bright side, at least we won't get gouged on the prices of rotten eggs and tomatoes we can lob at our politicians when they muck this all up: http://biz.yahoo.com/ap/080923/food_price_fixing.html