During last years election, I had a wonderful political discussion with a Republican friend of mine. It was civil and while we didn't agree on much, we weren't that far apart either. The one thing he said that I couldn't have agreed more with was "we need to start talking about sacrifice."
I don't think I need to point out that times are tough. It seems like every night, the news features another 300 point drop in the Dow. Bad unemployment figures and foreclosures are daily headlines. The experts can't seem to figure out how to stop it. Yesterday, Nobel laureate, Paul Krugman, wrote an excellent piece in favor of nationalization. This morning, Jim Cramer is on the Today show saying take nationalization off the table:
Most, like Rick Santilli's now famous rant from last week, don't offer any ideas, but they know they don't like what's going on.
I don't have any expertise on this subject and will not offer up any solutions. Obviously, I think what we're seeing here is a massive, painful correction. The bill for all the loose money is due. The minimum payment has been raised and we're all to blame. That said, we're Americans and we have a history of learning from our mistakes. We can come out of this situation with a better and stronger system than when we went in. As a country, we need to get back to the simple things that matter and quit worrying about things that don't. Things will be much better again, but we need to start at home, sacrifice some wants and concentrate on the needs.
President Obama has a speech tonight and I hope you all watch it. My gut tells me that he will touch on the same themes and I'm sure he will be more elegant than I am here. Just keep your chin up! We'll get through this and we'll be better for it!