I read yesterday that the parliamentary government of Iraq plans to increase the country’s budget to 43 Billion next year based on the expectation that oil prices will keep rising. Boy, did we bring that country into the capitalist society or what? Meanwhile, the current US economy which is suffering the effects of an economic downturn (in the polemics of our ruling party’s press guide) appears now to be ready for a bear market. What is fun is watching the two sides of our culture wars marshal their forces. On the one side is the media and the constant barrage of ads aimed at getting us ready and willing to spend/charge our way to apparent prosperity. On the other is the blogosphere where Buy Nothing Day is calling us all to the Frugal side. I guess the winner will be evident in the sales results of the soi disant Black Friday. The quandry we all share is that as recession sets in we are going to be faced constantly with the choice of how to play our part. Do we spend in order to keep the machine rolling or do we save to protect our futures? Do we continue with our internal dialogues through the personal finance arena or do we vocalize our position to the world in general? Do we co-op or do we WalMart? All I can see from here is the news about the union strikes in the US and in France, and the financial troubles in the lending market in the US and in England. It strikes me that our political leaders are caught up in their own particular party needs just when our country wants something much more from them. It’s almost not funny Magee.
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