Cash is King!

Posted: 26/11/2008 in Uncategorized
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Well, it’s another Turkey day tomorrow. A day off, with no pay for many, but at least you get to eat really well. Unless you cannot afford to. With the tightening recession there are going to be more people in that gravy boat than ever before. The entire world is finally admitting that the world is entering, or already in a global recession. Even our neighbors to the north in Canada….

It’s funny, but a lot of analysts just don’t want to admit the bind we’re in as a nation, let alone the world as currency becomes scarce. One of the problems seems to revolve around the “credit” industry, or lack thereof. In my mind, I believe these bailout packages are going to be bad news. The companies and individuals who are going to benefit from them really don’t give a damn about how they got into the position they are in. We taxpayers are going to be paying for the votes this money will buy for decades.

Let’s face facts here. We are in a recession because we stopped doing business based on cash, and started running our business with plastic money, plain and simple. We need to get off the credit wagon and steer it over the cliff it rightfully deserves. While some credit is a good thing, such as your home mortgage and other big ticket items such as your car loan, do we really need to put televisions, toys and even a night out on the town on a credit card?

The credit crunch is here, and Henry Paulson is stupidly pushing for people to cling to plastic money. Fake wealth. A dangerous hope for a sinking man to cling to when the boat has sunk. Cash is the life preserver we need to learn to cling to, not credit and plastic money. The old folks who made it through the great depression learned that lesson well. Did they forget to teach us that, or is some greedy swindler trying to hide that from us? Cash is king, remember that when next spring comes along and you realize you cannot afford a vacation in 2009.


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