I can't believe it - another year has passed since I posted my last entry. So much has happened that I will have to catch up over several entries. That presumes that I will follow through with my intentions.
I recently visited Washington D.C. with my daughter. She is graduating this Spring from CSUSM and has been accepted into the graduate programs at both American University and The George Washington University for a M.A. in history. Her emphasis will be American Foreign Policy during the Cold War Period. The purpose of the visit was to explore the campuses and to get a feel for D.C. & the surrounding area. Suffice it to say the trip was excellent on every level. More on the details later.
Still to be determined is whether she will attend one of those schools or one of the Southern California Universities that have offered admission (University of San Diego or CSUSM). This topic has dominated my thoughts over the past month or so as I try to grasp the enormity of it all. Suzie has also been overwhelmed with the decision as has all of our family (except Patti - to her it is a "no-brainer", Suzie should go to D.C. so that she can get her room).
The current political climate has been fascinating as we watch the ebb & flow of the Democratic nomination process. We have been quite taken by the Obama energy with the girls firmly supporting him to go all the way. I prefer him to Hillary Clinton without any question or reservations. However, while I enjoy his optimism and the vision of hope I am still concerned with the liberal/ socialist bent to his previous policies. I believe the country needs someone like him to provide an injection of fresh ideas and methods in order to break from the current malaise that has infected our morale (constant pounding re: Iraq, gas prices, economic gloom, foreclosures, falling house prices, increased unemployment etc. etc.).
Having said that, I am not convinced that there is a Barak Obama policy that will lead us out of this storm. Then again, is there a political solution to the economic situation or should we just wait out this cycle. Typically once the government starts tinkering with solutions to overall macro economic situations the problems prolong and the solutions don't work themselves out based on fundamental economic principles. I maintain that a case in point will be the recent stimulus package and rebates being sent to taxpayers. The current economic climate does not appear to be conducive for exorbitant spending that would stimulate the retail sector. In fact, I believe that these checks will instead be used in the immediate term to reduce debt and pay for consumer's increased energy related expenses (fuel and related increases like food costs etc.). This tinkering will prolong the agony in the retail industries as they wait for the stimulus to kick into effect. The reticence to spend combined with the extended period of time for the delivery of the stimulus checks will merely prolong the inevitable correction that is required. Recovery will not occur until the full shake out of the "false wealth" cycle has ended. Once consumers realize that they are not "rich" and in fact must live within the confines of their real income then a proper reasonable growth cycle can commence. The recent "boom" in the economy has been more the result of perceived wealth (home equity and the related availability of easy credit) rather than a result of earned wealth. There will be a thinning out process as many businesses fail; however, those that survive will be strong and will serve as the foundation for the next cycle - maybe consumers will even be a little bit wiser.
Then again, what do I know I am no Bill Gates or Warren Buffet. Just struggling along enjoying my drives in the Southern California back country in my Mustang convertible.
