I'm not sure how to feel right now. The world economy is collapsing and yet somehow I believe I must be unaffected because neither my family nor I are invested in the market.
An extremely naive conclusion, I know. We are all connected in this stupid money network through student loans, credit cards, mortgages etc. Modifying one's spending is really difficult - especially when it comes to buying necessities. But this credit crunch is making me think twice before pulling out my Mastercard. One would have hoped a similar kind of caution would have coursed through the veins of executives at AIG.
Are we headed towards Great Depression II? God only knows. But I do believe that fear and panic make the whole situation worse, and the news media doesn't really help either. Their passive-aggressive behavior ("The economy is dead!" "No, it's all in everyone's heads. Stay optimistic!") is aggravating.
Barack Obama is coming to Philly tomorrow for a series of rallies. I'm hoping I can get into one. Otherwise, I'll have to turn to FDR's fireside chats for some encouragement.
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