Our economy is in shambles. Our greed and thirst for borrowed money have toppled our oldest and most prestigious Wall Street Banks. Many people would say that our country deserves it. Do we? Ehhhh…I don’t know. Maybe. I don’t think people deserve to lose their jobs and houses, but some of these companies do deserve to go out of business.
Meanwhile, on the other side of the world. How mad is Japan? They were in love with our economy. They started to emulate our capital markets. In fact, they started to do things better than us. Our go for broke ways were attractive to them, and they found a way to make millions of millionaires. But, unfortunately for them they are still affected by our foolish ways. It is amazing that countries like Japan still talks to us. They don’t have credit and lending problems, but our credit and lending problems are now dragging down their country’s economy.
Hooray America! (slapping you a fake high five).
Peter Dunn a.k.a. Pete the Planner® is an award-winning financial mind and a former comedian. He’s a USA TODAY columnist, author of ten books, and is the host of the popular radio show and podcast, The Pete the Planner Show. Pete is considered one of the foremost experts on financial wellness in the world, but he’s just as likely to talk your ear off about bass fishing.