As much as I bitched, I think the thing really needed to happen and hopefully congress will get something done about it. On the brighter side, I now have a lawn in which I can grow tubers and vegetables. I can also catch earthworms for bait. As a close friend said, "Think about it, all you really need is air, food and water," and I really think there is some comfort in that thought.
Rushkoff on the bailout failure/financial meltdown:
If you've got no money and no debt, then just go about your business normally. I think the smartest long-term positioning is to begin looking at the goods and services you can provide to other people in your community without involving long distance transport or complex supply chains involving multiple creditors and borrowers. In other words, try to make what you do as real as possible.
If you do have money, well, either sit tight through the "capitulation" or do some bottom feeding of favorite underpriced stocks in industries that provide real goods or services to real people, and that don't need to borrow lots of money to do it. If you've got more than 100k in a single bank account, you might spread it out.
Scary shit. He goes on to say:
The bigger fact, though, is that even with a short-term bailout, the underlying mega-economy is in the dumps. Government can help lubricate the gears of the economy by utilizing its capacity to engage in longterm investing, as with the failed bailout bill. But this entire effort was really just a balance sheet adjustment. Unless we are also investing our time, energy, and remaining money in productive industries, education, and renewable resources, we will not have changed the real economy at all.
Some things we should have been doing in the first place.