Spin Cycle

I can't stand this indecision
Married with a lack of vision
Everybody wants to rule the world
--Tears for Fears

As Washington Mutual (WM) bites the dust this morning, I've read or heard numerous comments from pundits that go something like this. "These bozos in Washington just don't know how serious the financial system crisis is. We need that bail out package. They're busy politicking while the system implodes. How out of touch! Their level of incompetence is unbelievable!"

Therein lies the problem, of course. Expecting bureaucrats to be on top of market issues, and to effectively be able to pull levels to 'fix' economic problems is the height of folly.

There are those who believe that it's just the CURRENT set of politicians who are the problem. If we simply changed the slate, then government would be able to correctly navigate us through these rough waters.

If we continue to focus attention on government sponsored solutions to our problems, then events are destined to play out in Ground Hog Day fashion.

And standard of living will surely decline.

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