Financial Crisis

I would not want to be in Mr. Obama's shoes. No matter what he says or does, it is going to be a case of too little too late...late because of George Bush's inaction when he was in office. Now, however the crisis is so bad that nothing short of complete worldwide economic collapse or a major war to stimulate production, will change things in any way, positive or otherwise.

On a personal note, when I retired at the end of 2003 my financial adviser told me I had enough in my personal retirement accounts (mutual funds, etc) to last me until I was in my eighties. Well, it isn't going to work out that way and at the current rate of devaluation, those funds will be depleted by the end of this year, long before I am in my eighties, and I cannot live on Social Security alone.

So Mr. President, or anyone, what are you going to do to reverse this trend? Will I be living in a tent city somewhere? And speaking of tent cities, I was surprised to see a piece on a local TV station last night about tent cities in Sacramento, Reno, and Nagoya, Japan. Those living in the ones in Reno and Sacramento sounded and looked liked ordinary people too...not the crazies one sees frequently panhandling on the streets of San Francisco.