Tuesday, May 06, 2008

Good times will be had by all

I just saw Fareed Zakaria on teevee talking about how surprisingly good the American economy is doing. He used Citibank as an example, citing the fact that after having lost so many billions, money from Singapore and the Gulf states flooded in and rescued (i.e. bought) the company.

I hadn't thought about it like that before, but then I was reminded of my sister and brother-in-law back in the midwest. They recently lost their jobs and the very same miracle occurred for them. Instead of going immediately broke, as the naysayers might predict, significant sums of money flowed in from selling the boat, the motorcycle, the power tools, the furniture, and dipping into the kids' college savings.

So you see, both them and Citibank are actually winning by losing. They are reaping the benefits of a windfall. It is a victory for our businesses, our families, and for America.