I felt powerful standing there watching the big limos roll up with the men in black. They would like us to believe a default is a bad thing for us. It's actually a bad thing for the banks, not most Americans. Pain would be sharp, but it would end. I thought about our debt ceiling that will be raised same way the TARP passed; with threats of financial, govt and economic collapse, maybe even martial law. It will be the same ole song & dance. This is silly, why call it a "debt ceiling"? Just call it what it is, an increase in the rate of borrowing.
The security detail fanned out watching me across the street. Getting blank stares from drivers far too concerned with making a living than reading anything about Bernanke. I felt sorry for America today.
Today, the Japanese and Australian tourists had questions or maybe they just liked my orange shirt. The Americans seemed to be worrying about their next text message, tattoo and hook-up. I am glad I went but more scared for America from what I saw at that intersection today. Savings and retirement are not institutions. They are matters of personal responsibility. They are an attitude - not some external organization or person to blame. The key word in retirement planning is not retirement. It is planning as in; plan to have your house paid for, plan to have your car paid off, pay off the credit cards and have enough saved to generate a steady income in your later years.
In the coming years, our debt is projected to grow to more than three times the size of our entire economy. This will be ugly down the road.
Today, do they really care? Not sure. I do. That's why I went. I wanted to do it my way, just like my Dad.