Despite my best intentions, I still don’t understand most of the things that make our economy run or stammer. When I finally took an economics course in graduate school I made my lecturer crazy because I kept questioning the reality that are economic models – which aren’t based in reality, but theory. Theory says that when demand goes up, supply goes down and price should go up. Oil usually follows this, but organic foods don’t really follow.
The past few months and especially this past week has been almost impossible to follow for the average person. Banks are failing, someone who spent only 17 days on a job gets $11M in severance, and thousands of families lose their homes each day. The US Congress is on the verge of passing a GINORMOUS bailout package for Wall Street. The talking heads from Wall Street keep saying that we, the regular person, must go along or we’ll end up in a depression.
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