Has Anyone Noticed? The Economy HAS NOT Collaposed.

Here it is, Saturday evening and the economy is still going.  Maybe not as strong as it used to but things are still happening.  Of course, it's not Monday, yet, so maybe the economy is getting ready to collapse as soon as the markets open on Monday.

Here's something I've been thinking about, though.

Remember the Administration (Treasury Secretary,Fed Chair, President) were all saying this bailout thing ($700,000,000,000) has to happen now!  Not later!  Now! It didn't happen overnight and, wow, nothing bad happened.  In fact, the Dow Jones Industrial Average and the S & P Index went up and down just like they've bee going up and down for months, if not years.  Yeah, it's volatile but it's been that way for a long time.

I think it really had more to do with the election.  Congress (i.e., the House of Representatives) is completely up for re-election.  All 435 of them and 1/3 of the Senate has to think about keeping their cush condos in DC and they don't want to be kept in Washington working out the details of what seems to be something terribly complex.

The big financial interests need money, want money and don't want to wait until a Democratically controlled Congress (both the House and Senate) comes into power in January and may not be quite as sympathetic to their cause.

Meanwhile, the mortgage industry is in a little bit of a tight spot but, guess what, if you have a good credit score, a good (verifiable) job and money to make a down payment you can get a loan.

So here's the deal, Mr. and Ms. Elected Official  Stop trying to cobble together a fast bailout that won't do anyone any good and go on and do your campaigning. Then, when you come back, if "Wall Street" still needs your help, come up with something that won't vaporize our hard earned life savings.

Take a deep breath.  Let capitalism and the free market work like it's supposed to.