“Pass the Champagne!”

We’re getting close to end of another year. It’s been a sobering experience for any of us whom try to see the forest through the trees. The more one looks at things that don’t make sense, the more senseless it is to try. Forget trying to use your experience over the years, or for that fact any experience you’ve garnered over time. No one cares, and no one seems likely to care unless it all falls apart. Call me sentimental, but I remember a time when critical thinking mattered. It seems oh so long ago when it had relevancy, but for now it’s just talking the yarns of Ole. Maybe at sometime the resulting hangover will serve as evidence that staying too long at the punch bowl is not healthy. But as long as the bubbly is pouring I guess who is to say different. Besides, when everyone is inebriated with high hopes of never having to deal with a crisis again because they are now more sure than ever they know just what to do this time, well I guess you just pass the champagne. So let them toast to their new-found ideas, and out with the old and in with the new because we are oh so much smarter now…..

Remember when the USA was the engine of growth around the world and if GDP was under 4% it was a bad thing?……How foolish we were back then…pass the champagne!

Remember when we thought unemployment above 7% for any length of time was considered bad for the stock market?…..How foolish we were back then….pass the champagne!

Remember when we thought that the engine of growth for the world would be free market capitalism?…How foolish we were back then…pass the champagne!

Remember when it was a bad thing if a government nationalized a corporation?…How foolish we were back then…pass the champagne!

Remember when we thought spending a billion dollars was a large figure, and a trillion was near impossible?…How foolish we were back then…pass the champagne!

Remember when nearly 15 million people unemployed was a bad thing for the economy, and would hurt spending?…How foolish we were back then…pass the champagne!

Remember when if you took out a mortgage you would have to pay it back, regardless if there was a typo?…How foolish we were back then…pass the champagne!

Remember when if you were in foreclosure it meant eviction not a rent free time period to be exploited?…How foolish we were back then…pass the champagne!

Remember when keeping interest rates too low for too long would mean you were creating bubbles in the economy or bring on inflation?…How foolish we were back then…pass the champagne!

Remember when the US dollar was something you always thought would have value no matter what?…How foolish we were back then…pass the champagne!

Remember when monetizing the government’s debt was  something that was considered the same as paying one credit card with another and crazy?…How foolish we were back then…pass the champagne!

Remember when praising anything like what’s being toasted now was considered the babble of a bunch of drunkards?

There’s a great deal to be said for staying sober in my book.

Mark