Tuesday, October 14, 2008

Pop Culture Economics

So as the Dow Jones rollercoasters its way through one whiplash-inducing trade day after another, I try desperately to figure out just what's going on with our American economy.

And, of course, I fail.

And when that happens, I always turn to Pop Culture to explain the situation. Here's a scene you may have enjoyed before.

I listen to the big-brained economic talking heads on the financial networks and when the Dow bottoms out as it did last week, they all say the same thing: "Everybody's selling!"

Well. No. Not EVERYbody. You can't sell anything unless there's someone to sell to. Somewhere in our American economy there sits an Old Man Potter who's scooping up bargains and cheerfully buying companies and stocks at a fraction of their former value. He'll probably take a bath on more than a few of them, but once the dust settles, he'll have purchased some of the most valuable economic entities in this country for pennies on the dollar.

Panic is a good thing for those who don't panic. And there's always someone out there eager to profit from your fear.

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