U.S. Markets Closed But...

Today the U.S. markets are closed for Martin Luther King day. So what's the problem?

HANG SENG -1,383.01 -5.49% 23,818.86
NIKKEI 225 -535.35 -3.86% 13,325.94

Well, the rest of the world isn't closed today and unfortunately they don't believe the economic stimulus package Busch is propsoing is enough and will be coming to late to convince the U.S. buyers to start buying stuff again. Once again, that word recession is back on top of most investors conversations.

So the global economy is reacting to the U.S. economy woes. I guess I would have to agree, take the average U.S. person who is stuck owning a home that is worth less than they owe, fears of a recession and possible loss of jobs and try convincing them to spend their money on stuff they don't need. How much stress is on someone who fears losing their home or job? Although, I believe in personal responsibility what we as a country allowed to happen, outside investors, "free" credit, no-interes hype and ARMS for all is not good responsibility of a country.

So how do you fix that and at the same time, battle rising health-care costs, a failing home-market, fight a war and thwart the next terrorist event? I don't have an answer, nor do I think there is one outside of forgiving all the negative home-equity that people have accumulated during this correction period as a merciful outpouring of gernerosity. After all the banks are writing off billions, why not just forgive the debt over the market value of the homes and reset the loans, you still write off billions, less billions, but you also help the economy at the same time and still have a chance of recouping 70 to 90% of the loan values. This would be considered mercy that we all have been given and those that have homes and make the payments and aren't worried about losing theirs should understand this and be happy for what you have.

Anyway, I thank God for my home and job and will try to manage my finances as anyone shown this kind of mercy should.