My sister Amy tagged me, so here we go!
4 jobs I have had:
1. Nanny
2. Piano teacher
3. Special sections coordinator at the BYU paper
4. Writer for External Relations at the BYU business school--the Marriott School
4 movies I have watched more than once:
1. Beauty and the Beast
2. Pride and Prejudice (the long one)
3. Batman Begins
4. Garden State (Clean Flicks version, of course!)
4 TV shows I watch:
1. The Closer
2. House
3. Monk
4. Psych
4 people who email me regularly:
1. The PRSSA National Committee
2. PRSSA members who want to know more about writing for FORUM
3. Eric when he needs to tell me something when he's at work
4. Google Alerts.
This made me just realize how sad my e-mail box really is. If any of you ever feel like sending me an e-mail just for fun, I'd love it :o)
4 favorite foods:
1. Fruit!
2. Sweetened condensed milk (yes, I eat it plain. not in huge quantities. but enough to make eric sick.)
3. Rice pudding (Mom's recipe and the stuff from Pudding on the Rice)
4. Mashed red potatoes with lots of butter and a hint of garlic
4 places I want to visit:
1. Russia--I'd like to get a taste of the culture where my husband served his mission
2. Northern Italy in the vineyard country; I've been to Venice but I want to see the rest
3. Somewhere truly tropical and beautiful--not quite sure where. Any recommendations?
4. I want to do some sort of trip to do service in Africa somewhere so I can see how people can still be happy without having a lot of things.
4 things I'm looking forward to in the next year:
1. GRADUATION!!!
2. Getting a job where I can settle in for a while and look forward to advancements
3. NO MORE HOMEWORK!!!
4. Moving on from undergrad life--which implies a lot
4 things I like about my husband:
1. He helps me get over my disappointment when I realize I'm not perfect (which happens quite often...)
2. His outgoing personality
3. His curious nature
4. He helps around the house--a lot
Ok, my turn to tag some people, and I have to think of married women who read my blog...hmm... I tag Jessica Badger, Holly Johnson, Mom Badger, and Jana Garrett. Although Jana might not have time, considering she's in Ukraine...
Friday, October 17, 2008
Thursday, October 16, 2008
Thats good! No, that's bad.
Have any of you read the book that's from? It's a children's book and I can't think of where I read it. Maybe when I was a nanny?
Anyways, as I was trying to think of something positive to counter my negative post from the other night, I realized that I hadn't blogged about my new job yet. Some of you might not even know I started a new internship.
I had really hoped to get an internship with the Church, but when that didn't work out, I resigned myself to waiting until next summer to do my internship for graduation. THEN my friend Scott told me his office was hiring--he is an intern at the Marriott School External Relations office. I decided to interview, and heard back just three days later--I got it!
So I quit the Daily Universe. I was really sad to leave; it was an amazing experience and I loved the people there, but it couldn't count as my internship for credit toward graduation, and I really wanted to be able to graduate and not pay tuition next summer if I didn't need to.
I love my job. My boss is a PR guru. Seriously. And my immediate supervisor is fast on his way to being just as good. He's already pretty amazing at what he does. I'm learning so much.
That's all. I could say lots about what I"m working on, but I want to go to bed!
Anyways, as I was trying to think of something positive to counter my negative post from the other night, I realized that I hadn't blogged about my new job yet. Some of you might not even know I started a new internship.
I had really hoped to get an internship with the Church, but when that didn't work out, I resigned myself to waiting until next summer to do my internship for graduation. THEN my friend Scott told me his office was hiring--he is an intern at the Marriott School External Relations office. I decided to interview, and heard back just three days later--I got it!
So I quit the Daily Universe. I was really sad to leave; it was an amazing experience and I loved the people there, but it couldn't count as my internship for credit toward graduation, and I really wanted to be able to graduate and not pay tuition next summer if I didn't need to.
I love my job. My boss is a PR guru. Seriously. And my immediate supervisor is fast on his way to being just as good. He's already pretty amazing at what he does. I'm learning so much.
That's all. I could say lots about what I"m working on, but I want to go to bed!
Tuesday, October 14, 2008
Is it possible?
I sometimes feel responsible for the injustices that were integral parts of the foundations of our nation. Every day I benefit from a system that was built up off exploitation and inequality.
I mean, the class system in the early days of America led to hundreds of years of oppression of the lower classes (which eventually became synonymous with blacks).
A chapter in a book we're reading for my sociology class was called "The Hidden Origins of Slavery," and it discussed the events and currents in society that led to slavery--crazy to understand how much class really played a role in it. Of course, racism was not far behind in justifying slavery.
We also spent a week looking at the oppression and mistreatment of Native Americans during colonization. It left a very bad taste in my mouth.
I guess I start to feel guilty because I spent so much time in public schooling thinking that our founding fathers were amazing men who were just in all their dealings or something. Our country is supposed to stand as an ensign of equality and freedom.
Then you get to the part where there is still so much inequality in our system. Can you believe the rich poor gap simply grows each year? Where is equality? Where is the American Dream?
The issue of immigration today doesn't make me feel any better. Immigrants come to this country looking for that American dream, and instead they get shuffled into low-paying jobs (like it's justified because they'll take anything since it's an improvement on where they came from). I went to a debate about immigration reform between the College Democrats and College Republicans on campus last week. I walked away feeling more conflicted than ever--where is the answer? I want justice and mercy. Is it possible in our polarized society?
Of course, the funny thing is, I felt like both sides said the same thing. John McCain and Barak Obama have such similar views on immigration I feel like neither candidate offers a fresh take on the issue. Doesn't help me in my decision about who to vote for, either, because I believe immigration is not only an important social issue but also a huge economic issue.
Those last two paragraphs may confuse you; in one breath I'm saying society is polarized and then in the same breath I say the candidates are the same so far as their stances on this issue. They, and their staunch supporters, would say that they aren't the same, that there are fundamental differences in their policies. I say they're both pandering to the political middle to win votes in November. But anyways, this proclaimed difference is where I see the polarization--if democrats and republicans cannot work together to figure out, there's no hope for anything productive happening.
Speaking of working together on things, people act like the bailout bill was a success of people reaching across the aisle to overcome a national crisis. I say it was a success of senators and congressmen getting "sweeteners" for their constituencies to help ensure reelection and put the federal government even more in debt.
Ok, I'm going to stop now while I can make myself. Sorry this was a fairly negative post. Perhaps tomorrow I'll write something more uplifting. And more concise. But these are my thoughts; take them for what they're worth.
I mean, the class system in the early days of America led to hundreds of years of oppression of the lower classes (which eventually became synonymous with blacks).
A chapter in a book we're reading for my sociology class was called "The Hidden Origins of Slavery," and it discussed the events and currents in society that led to slavery--crazy to understand how much class really played a role in it. Of course, racism was not far behind in justifying slavery.
We also spent a week looking at the oppression and mistreatment of Native Americans during colonization. It left a very bad taste in my mouth.
I guess I start to feel guilty because I spent so much time in public schooling thinking that our founding fathers were amazing men who were just in all their dealings or something. Our country is supposed to stand as an ensign of equality and freedom.
Then you get to the part where there is still so much inequality in our system. Can you believe the rich poor gap simply grows each year? Where is equality? Where is the American Dream?
The issue of immigration today doesn't make me feel any better. Immigrants come to this country looking for that American dream, and instead they get shuffled into low-paying jobs (like it's justified because they'll take anything since it's an improvement on where they came from). I went to a debate about immigration reform between the College Democrats and College Republicans on campus last week. I walked away feeling more conflicted than ever--where is the answer? I want justice and mercy. Is it possible in our polarized society?
Of course, the funny thing is, I felt like both sides said the same thing. John McCain and Barak Obama have such similar views on immigration I feel like neither candidate offers a fresh take on the issue. Doesn't help me in my decision about who to vote for, either, because I believe immigration is not only an important social issue but also a huge economic issue.
Those last two paragraphs may confuse you; in one breath I'm saying society is polarized and then in the same breath I say the candidates are the same so far as their stances on this issue. They, and their staunch supporters, would say that they aren't the same, that there are fundamental differences in their policies. I say they're both pandering to the political middle to win votes in November. But anyways, this proclaimed difference is where I see the polarization--if democrats and republicans cannot work together to figure out, there's no hope for anything productive happening.
Speaking of working together on things, people act like the bailout bill was a success of people reaching across the aisle to overcome a national crisis. I say it was a success of senators and congressmen getting "sweeteners" for their constituencies to help ensure reelection and put the federal government even more in debt.
Ok, I'm going to stop now while I can make myself. Sorry this was a fairly negative post. Perhaps tomorrow I'll write something more uplifting. And more concise. But these are my thoughts; take them for what they're worth.
Thursday, October 9, 2008
Wednesday, October 8, 2008
If my mother only knew....
Thanks for the inspiration, Amy.
One time my friends and I snuck out of Bethany's house in the middle of the night during a sleepover to TP a boy's house and her parents figured out we were gone and drove around the neighborhood until they found us. They threatened to call our parents...but didn't. Surprise!
Another time we were with a couple of our guy friends who were doorbell ditching fanatics. We doorbell ditched probably around 10 houses on the same street before we decided we should stop pressing our luck... One of the houses was apparently owned by a gay couple, and they called the cops on us for what appeared to them to be a "hate crime." The police found our friend who'd been driving and gave him a warning. He didn't rat us out, though.
In middle school I had a proud record of never being nominated for student of the month, and was sorely disappointed when I got it during my 9th grade year.
One time my honors biology teacher threatened to send me to the office if I didn't start acting my age. I had made a cape for my body spray and was making my friend laugh as I flew it around the desk...
I started "Bienek Bingo" for that same honors biology class. The teacher, Mr. Bienek, had a few distinct habits (such as not tucking in one half of his shirt, saying "right" a lot at the end of his sentences, etc.). I got a bunch of my friends playing it, not only in my class but the other honors class, too, and random people would yell out "Bingo!" in the middle of class. He never figured us out.
I've kissed a boy on a first date. Not Eric. Before I met Eric.
I slept in EVERY single math 110 lecture my freshman year besides maybe the first one. If I went to class.
Katy and I used to play a game with our friends Sarah and Kelly where we'd close our eyes and the others would choose a spice to put on our tongues, and we had to guess what it was. One time I put cinnamon oil on Katy's tongue--not a good idea.
Once Katy and I were playing with our bunny, Tina. She bit my arm and it even drew blood, but we never told Mom because we thought she'd make us get rid of her.
This is fun. We should play this game more often :)
One time my friends and I snuck out of Bethany's house in the middle of the night during a sleepover to TP a boy's house and her parents figured out we were gone and drove around the neighborhood until they found us. They threatened to call our parents...but didn't. Surprise!
Another time we were with a couple of our guy friends who were doorbell ditching fanatics. We doorbell ditched probably around 10 houses on the same street before we decided we should stop pressing our luck... One of the houses was apparently owned by a gay couple, and they called the cops on us for what appeared to them to be a "hate crime." The police found our friend who'd been driving and gave him a warning. He didn't rat us out, though.
In middle school I had a proud record of never being nominated for student of the month, and was sorely disappointed when I got it during my 9th grade year.
One time my honors biology teacher threatened to send me to the office if I didn't start acting my age. I had made a cape for my body spray and was making my friend laugh as I flew it around the desk...
I started "Bienek Bingo" for that same honors biology class. The teacher, Mr. Bienek, had a few distinct habits (such as not tucking in one half of his shirt, saying "right" a lot at the end of his sentences, etc.). I got a bunch of my friends playing it, not only in my class but the other honors class, too, and random people would yell out "Bingo!" in the middle of class. He never figured us out.
I've kissed a boy on a first date. Not Eric. Before I met Eric.
I slept in EVERY single math 110 lecture my freshman year besides maybe the first one. If I went to class.
Katy and I used to play a game with our friends Sarah and Kelly where we'd close our eyes and the others would choose a spice to put on our tongues, and we had to guess what it was. One time I put cinnamon oil on Katy's tongue--not a good idea.
Once Katy and I were playing with our bunny, Tina. She bit my arm and it even drew blood, but we never told Mom because we thought she'd make us get rid of her.
This is fun. We should play this game more often :)
Monday, October 6, 2008
A little wisdom from Norm about the financial bailouts
I have a professor, his name is Norm Nemrow; I watch him on my computer screen to learn Accounting 200. Occasionally I see the man in real life, but it's rare. But when I do, his enthusiasm for accounting is almost overwhelming. He certainly loves what he does, and he knows accounting up and down, backward and forward.
He made his fortune early on and decided he would retire--in his 30s. Then he got bored. He tried a few things, including golfing, but he wanted something to do. So he started teaching at BYU. He's an enjoyable professor and loves to have students ask questions.
I got this e-mail from him today addressing questions that he's received from students about the current financial crisis, and I thought I'd share (Amy, David might be interested in reading this--I'm sure he had at least one class from Norm!).
My Take on the Bailout
Students have been asking my opinion on the bailout and our current “financial crisis.”
Well here is my take. I am not convinced that the bailout will help us avert a serious recession which seems more probable with each passing day. By the way, the ultimate negative impact of a recession is higher unemployment and stagnant salaries and wages. We have already experienced this in some segments of the economy (real estate, construction, the automobile industry and financial services) but not the overall general economy… at least not yet.
The cause of the “financial crisis” has been explained fairly well in the Wall Street Journal but not in the main stream media and certainly not by our political candidates. In my opinion, our country’s economic prosperity over the past 12 years has certainly been built on significant advances in technology and productivity but it has also been built on a tremendous amount of consumer debt and spending. A great portion of that debt and spending was inspired by two significant investment “bubbles.” The first was the internet stock bubble which had its beginnings in about 1997 and created a period amount of illusory wealth which fueled consumer spending and related debt mostly in the form of credit card debt. The bursting of that bubble in 2000 brought with it a slowing economy in 2001. With the effects of 9/11 in 2001 the country faced real economic hardship. In response Congress passed President Bush’s proposed tax cuts and the Federal Reserve lowered interest rates and increased the money supply to spur the economy. This ultimately combined with the relaxation of lending standards at Fannie Mae and Freddie Mac (government sponsored institutions established to buy home mortgages) initially designed to expand home ownership opportunities ignited a real estate bubble. Rapidly rising home prices gave rise to many people borrowing against their newly created “equity” for additional consumerism and in some cases the making of other speculative real estate investments.
Now as the real estate bubble has burst and we are looking at this $700 million bailout in addition to the previous bailouts of Bear Stearns, AIG and Fannie Mae and Freddie Mac totaling an additional $300 + billion, some are asking where has all the money gone? The only answers I have heard from Barack Obama and John McCain and most media pundits is that it has gone into the pockets of greedy people on Wall Street. What a distortion. The fact is most of the money is in the pockets of fellow Americans who were lucky enough to have benefited from the real estate boom. Take for example a person who bought a $200,000 home then borrowed an additional $100,000 on a home equity line of credit when real estate values increased dramatically. They may have then spent that $100,000 on goodies such as a boat, trips to Europe, the payoff of various credit card debts, etc. only to find that when the hard times came and real estate values plummeted they could not stay up with their payments and were forced into foreclosure. The bailout money may now be used to buy that bad home equity loan from the institution/investors now holding it. In that case, who made out with the cash that is now giving rise to this bailout? It was the homeowner. Oh there were some mortgage lender fees, appraisal fees, and other fees paid along the way and when that loan was bundled with other loans and sold as an investment security there were other fees some of which ended up in high paid CEO salaries but to be sure most of the money we’re talking about went into the pocket of the homeowner.
To identify the other the primary beneficiaries of the lost funds now giving rise to the bailout just think of the others who received money on real estate loans that have ultimately or will ultimately go bad, like:
- People (homeowners) who sold their homes at bubble prices to others who simply couldn’t afford the homes they bought (non-qualified buyers with inadequate income).
- People (existing homeowners) who sold their homes at bubble prices to real estate speculators/investors who couldn’t afford them in the downturn.
- Developers, builders, other contractors and construction workers who built homes and then sold them at bubble prices to homeowners who couldn’t afford them (non-qualified buyers with inadequate income).
- Developers, builders, other contractors and construction workers who built homes and then sold them at bubble prices to real estate speculators/investors who couldn’t afford them in the downturn.
- Builders, other contractors and construction workers who built homes during the bubble and were paid through construction loans on homes that then could not be sold during the downturn.
- Etc.
In some cases, as in any investment bubble, there were also some people involved in fraudulent transactions setting up straw men (fake investors) to buy properties at inflated prices in collusion with deceitful appraisers. These embezzlers obtained fraudulent loans that will probably also end up as part of the bailout package. These cases, however, are relatively few and the perpetrators will be subject to criminal prosecution.
My point in all of this is simply to point out that when all is said and done, my belief is that most of the over $1 trillion of these multiple bailouts will have gone to pay for the excessive consumerism and the good fortune of some who were lucky enough to cash in on the “good times” of real estate bubble resulting from relaxed lending standards and the wild real estate speculation prior to 2008, all of which contributed to a growing economy which could not last.
Now my ultimate fear is that the bailout will do little to stem the tide of an economy that seems to be moving toward recession and in exchange we have set a precedent or pattern of practice that will haunt us as a country well into the future. That precedent is the growing role of government in our economy and our lives. There seems to be an inexorable push for more and more government (ie. socialism) and less and less personal responsibility and freedom with each passing day. Ultimately, my greatest fear is that we will end up killing the goose that lays the golden egg… free market capitalism. For me the smartest and wisest voice in all of this has been that of Neil Cavuto, the voice of Fox Business News. Below is what he had to say on October 3, 2008:
Neil Cavuto
Fox Business News
October 3, 2008
“Rescue, rescued.
Dead done.
And by the way, capitalism closed.
The biggest financial rescue in American history is now part of our history.
And so too, the free markets part of that history.
My biggest fear with this bailout here is what we could be losing here.
The freedom to simply fail.
To lose your business because you couldn't run your business.
Now there's a backstop.
The government.
Us.
Think about that.
Get beyond the fears that if we didn't use the government to back up these companies, we wouldn't have these companies, and soon, we wouldn't have lots of other companies.
We'll never know.
Clearly, this much I think we do know.
We never were given the chance to find out.
Never given the opportunity or scary chance to see what happens when market forces take charge of ugly situations.
Sometimes, those situations get uglier.
Selloffs uglier still.
But that's part of who we are and what we are.
They're part of the freedom we have in this country to take on any task and fail at that task too.
When you take away the failure part, you take away the sweet taste of the success part.
But now, I guess, I'm parting hairs...and we are parting cash.
About $800 billion worth of cash.
We're told that will be money well spent.
Me?
Well, I'm just spent.
Worried that the markets we catered to because of a tantrum...we'll cater to yet again when there's another tantrum.
And trust me, there will be.”
Finally, my feeling is that it is possible that we will see a softer recession in the near turn as a result of this bailout, but we will never know that for sure. On the other hand, I am fairly sure, that ultimately, the chickens will come home to roost. At some point in time an economic price will have to be paid for the excesses of the past. However, for us as members of the Church, I am supremely confident that there is safety in the counsel of our leaders. As long as we are faithful and obedient there will always be sufficient for our needs. So……Go forward with faith. Fear not. Study hard. Be excited for the future and optimistic that you might be able to make a difference for good in the lives of others and in the life of our country. I have great faith in you and in us as a people. God bless us and God bless the United States of America and all the nations of the world.
He made his fortune early on and decided he would retire--in his 30s. Then he got bored. He tried a few things, including golfing, but he wanted something to do. So he started teaching at BYU. He's an enjoyable professor and loves to have students ask questions.
I got this e-mail from him today addressing questions that he's received from students about the current financial crisis, and I thought I'd share (Amy, David might be interested in reading this--I'm sure he had at least one class from Norm!).
My Take on the Bailout
Students have been asking my opinion on the bailout and our current “financial crisis.”
Well here is my take. I am not convinced that the bailout will help us avert a serious recession which seems more probable with each passing day. By the way, the ultimate negative impact of a recession is higher unemployment and stagnant salaries and wages. We have already experienced this in some segments of the economy (real estate, construction, the automobile industry and financial services) but not the overall general economy… at least not yet.
The cause of the “financial crisis” has been explained fairly well in the Wall Street Journal but not in the main stream media and certainly not by our political candidates. In my opinion, our country’s economic prosperity over the past 12 years has certainly been built on significant advances in technology and productivity but it has also been built on a tremendous amount of consumer debt and spending. A great portion of that debt and spending was inspired by two significant investment “bubbles.” The first was the internet stock bubble which had its beginnings in about 1997 and created a period amount of illusory wealth which fueled consumer spending and related debt mostly in the form of credit card debt. The bursting of that bubble in 2000 brought with it a slowing economy in 2001. With the effects of 9/11 in 2001 the country faced real economic hardship. In response Congress passed President Bush’s proposed tax cuts and the Federal Reserve lowered interest rates and increased the money supply to spur the economy. This ultimately combined with the relaxation of lending standards at Fannie Mae and Freddie Mac (government sponsored institutions established to buy home mortgages) initially designed to expand home ownership opportunities ignited a real estate bubble. Rapidly rising home prices gave rise to many people borrowing against their newly created “equity” for additional consumerism and in some cases the making of other speculative real estate investments.
Now as the real estate bubble has burst and we are looking at this $700 million bailout in addition to the previous bailouts of Bear Stearns, AIG and Fannie Mae and Freddie Mac totaling an additional $300 + billion, some are asking where has all the money gone? The only answers I have heard from Barack Obama and John McCain and most media pundits is that it has gone into the pockets of greedy people on Wall Street. What a distortion. The fact is most of the money is in the pockets of fellow Americans who were lucky enough to have benefited from the real estate boom. Take for example a person who bought a $200,000 home then borrowed an additional $100,000 on a home equity line of credit when real estate values increased dramatically. They may have then spent that $100,000 on goodies such as a boat, trips to Europe, the payoff of various credit card debts, etc. only to find that when the hard times came and real estate values plummeted they could not stay up with their payments and were forced into foreclosure. The bailout money may now be used to buy that bad home equity loan from the institution/investors now holding it. In that case, who made out with the cash that is now giving rise to this bailout? It was the homeowner. Oh there were some mortgage lender fees, appraisal fees, and other fees paid along the way and when that loan was bundled with other loans and sold as an investment security there were other fees some of which ended up in high paid CEO salaries but to be sure most of the money we’re talking about went into the pocket of the homeowner.
To identify the other the primary beneficiaries of the lost funds now giving rise to the bailout just think of the others who received money on real estate loans that have ultimately or will ultimately go bad, like:
- People (homeowners) who sold their homes at bubble prices to others who simply couldn’t afford the homes they bought (non-qualified buyers with inadequate income).
- People (existing homeowners) who sold their homes at bubble prices to real estate speculators/investors who couldn’t afford them in the downturn.
- Developers, builders, other contractors and construction workers who built homes and then sold them at bubble prices to homeowners who couldn’t afford them (non-qualified buyers with inadequate income).
- Developers, builders, other contractors and construction workers who built homes and then sold them at bubble prices to real estate speculators/investors who couldn’t afford them in the downturn.
- Builders, other contractors and construction workers who built homes during the bubble and were paid through construction loans on homes that then could not be sold during the downturn.
- Etc.
In some cases, as in any investment bubble, there were also some people involved in fraudulent transactions setting up straw men (fake investors) to buy properties at inflated prices in collusion with deceitful appraisers. These embezzlers obtained fraudulent loans that will probably also end up as part of the bailout package. These cases, however, are relatively few and the perpetrators will be subject to criminal prosecution.
My point in all of this is simply to point out that when all is said and done, my belief is that most of the over $1 trillion of these multiple bailouts will have gone to pay for the excessive consumerism and the good fortune of some who were lucky enough to cash in on the “good times” of real estate bubble resulting from relaxed lending standards and the wild real estate speculation prior to 2008, all of which contributed to a growing economy which could not last.
Now my ultimate fear is that the bailout will do little to stem the tide of an economy that seems to be moving toward recession and in exchange we have set a precedent or pattern of practice that will haunt us as a country well into the future. That precedent is the growing role of government in our economy and our lives. There seems to be an inexorable push for more and more government (ie. socialism) and less and less personal responsibility and freedom with each passing day. Ultimately, my greatest fear is that we will end up killing the goose that lays the golden egg… free market capitalism. For me the smartest and wisest voice in all of this has been that of Neil Cavuto, the voice of Fox Business News. Below is what he had to say on October 3, 2008:
Neil Cavuto
Fox Business News
October 3, 2008
“Rescue, rescued.
Dead done.
And by the way, capitalism closed.
The biggest financial rescue in American history is now part of our history.
And so too, the free markets part of that history.
My biggest fear with this bailout here is what we could be losing here.
The freedom to simply fail.
To lose your business because you couldn't run your business.
Now there's a backstop.
The government.
Us.
Think about that.
Get beyond the fears that if we didn't use the government to back up these companies, we wouldn't have these companies, and soon, we wouldn't have lots of other companies.
We'll never know.
Clearly, this much I think we do know.
We never were given the chance to find out.
Never given the opportunity or scary chance to see what happens when market forces take charge of ugly situations.
Sometimes, those situations get uglier.
Selloffs uglier still.
But that's part of who we are and what we are.
They're part of the freedom we have in this country to take on any task and fail at that task too.
When you take away the failure part, you take away the sweet taste of the success part.
But now, I guess, I'm parting hairs...and we are parting cash.
About $800 billion worth of cash.
We're told that will be money well spent.
Me?
Well, I'm just spent.
Worried that the markets we catered to because of a tantrum...we'll cater to yet again when there's another tantrum.
And trust me, there will be.”
Finally, my feeling is that it is possible that we will see a softer recession in the near turn as a result of this bailout, but we will never know that for sure. On the other hand, I am fairly sure, that ultimately, the chickens will come home to roost. At some point in time an economic price will have to be paid for the excesses of the past. However, for us as members of the Church, I am supremely confident that there is safety in the counsel of our leaders. As long as we are faithful and obedient there will always be sufficient for our needs. So……Go forward with faith. Fear not. Study hard. Be excited for the future and optimistic that you might be able to make a difference for good in the lives of others and in the life of our country. I have great faith in you and in us as a people. God bless us and God bless the United States of America and all the nations of the world.
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