Thursday, March 28, 2024
Miles from the Mainstream
D. R. ZUKERMAN, proprietor

"Gripped by fear?"

OCTOBER 15, 2008 --

The Wall Street Journal carried a front page banner headline, October 10, declaring that the country is reeling from the seven-day drop in the stock market. And one "stock specialist" was quoted in the New York Post, October 10, as saying, "The people have lost faith in everything." Another source said, "People are very, very scared."

LPR believes it is Wall Streeters who are reeling, not the rest of America. Wall Streeters who have lost faith in everything. Wall Streeters who are very, very scared. Not the country at larege.

We have little reason to have confidence in our corporate leaders and in our politicians -- Democrats, unwilling to take responsibility for their mistakes, as well as the Bush Administration.

For LPR, it is not unreasonable to consider that Wall Streeters and CEOs, and perhaps pols, too, are interested mainly in personal wealth, not the common good. (And that interest rates that bleed us dry also are contrary to the common good.)

There is, however, in LPR's view, no reason for us to lose confidence in our ability to continue the "common good" legacy given to us by the Founders of our great country. Remember, the inscription reads: "In God We Trust."