The Calm Before The Storm
This morning President Bush gave a news conference to assuage the fears of the subprime and credit market collapse. And for the first time in his eight years as president, I truly didn’t care what he had to say. He mispronounced words, stumbled through questions which in the past provided me with enough fodder for a thousand observations.
And I know I should care.
In the last six months one of the oldest investment banks, Bear Sterns collapsed. We had the second largest bank failure in the history of this country when IndyMac became insolvent last week. Fannie Mae and Freddie Mac are hanging on by a federal string. Oil is at an all time high. And it costs more to make a dollar than to spend it.
To the doomsday believer the economy seems to be teetering on near collapse, and yet I’ve never been more at peace.
Maybe it’s summer. Maybe I’m just exhausted from watching the Hillary/Obama battle play out over the last year. Or that the financial troubles haven’t seeped into the general public yet.
But one thing is for certain in 6 months there will be a new president. We can put the last 8 years behind us. Move forward.
For a moment I can breathe.
