Well, Wednesday is usually our day to zip out a round-up of all the “cool stuff” popping up on the radar screen as of late. But, it seems like the economy has taken over the radar screen lately! Can’t imagine why. We’ve nearly doubled the national debt over the last week or so, but who’s counting? So, here’s a wrap of good articles popping up on this whole financial mess our country finds itself in. We hope it will help you make some heads and tails of what exactly is going on over on Wall Street, what it means for you, and whether or not there’s anything you can do about it.
TIME’s latest cover story THE PRICE OF GREED helps put convoluted financial instruments like ‘credit-default swaps’ into layman’s terms and sets the context for where we’re at and where things might be headed. “They [wall street] had a party. Now you’re going to pay.” Very well-written and, unfortunately, very disturbing.
Meanwhile, Roger Cohen, in THE FLEECING OF AMERICA for the NY TIMES writes about the fact that “the world has changed in the past decade. There’s been a steady transfer of wealth away from the United States in a shift most Americans have not yet grasped…”
Even NEWT GINGRICH appeared on NPR to discuss why “…the bailout plan is just wrong.” Whether you like Newt or not, he has some very well-reasoned insights that are worth paying attention to.
Perhaps one of the biggest questions for us as fathers is how this will affect our kids and the country they’ll inherit? Reporting on that issue, MARKETPLACE weighs in with ECONOMIC WORRIES WEIGH IN ON THE YOUNG.
So, now that we’re in the eye of this storm, the Treasury, the Fed, and the Bush Administration are pushing for a $700 Billion bailout of Wall Street and it’s financial mismanagement. What does this all mean? It means that you need to act! That’s right, this is a democracy, after all. A complacent one, but still a democracy. Call your congressional representatives and voice your opinion! Don’t know who your Congressional representatives are? Visit WhoIsMyRepresentative.com, punch in your zip code, and start calling!
Ben Murphy, founder of The Father Life, is an Adventure Athlete, Writer, and Wellness Advocate who used to be obese. You can ask him your questions at www.BenMurphyOnline.com. He lives in upstate New York with his wife and three daughters.