A Recession Fallout (Nuclear Winter?)

Credit Card Fallout?

If you really want to think about how scary this recession will be, consider this: Everything individuals and families were doing with their credit cards and homes, businesses were doing on a much larger level. Cheap credit pervaded every facet of the economy. From Construction to the Federal Government, expansion was fuelled by credit. Credit through low interest bonds, finance companies, and government debt selling. So how much of this credit-fuelled bubble is going to be around after this is all over? After this heavy recession and possible depression, how many companies will be left?

In Defense of Capitalism

In a recent opinion piece in the Washington Post columnist E.J. Dionne lays the economy’s woes at the feet of capitalism. From the article I believe Dionne is saying that a more governmental redistribution program would alleviate our suffering from this most recent credit crisis. I was most shocked to find that most Washington Post readers agreed with his critique of the system of capitalism. Many readers agreed with Dionne that the New Deal had gotten us out of the Great Depression, and a more active governmental role in today’s economy would make us better off. This shows a flawed understanding of the capitalist system. Although I don’t have many readers, I would feel amiss if I didn’t defend this system against such misunderstood attacks.