There Is No Free Lunch

No matter where you look these days, we are paying for financial follies. All of those home equity loans, grandiose debt to income ratios, monster salaried CEOs, leveraged credit cards, and get rich schemes came with a cost. It's time to pay up people.

It really doesn't matter who should foot the bill when you start talking about an economic crater of this size and magnitude. When it is all said and done, we will be talking trillions of dollars vanishing from balance sheets.

We are all poorer these days.

I wonder if integrity will make a comeback. It has been out of fashion for some time. The modern society is most interested in instant gratification.

What will our new future look like? It may be a long time before we can tell.

The idea that we can pay this tab quickly and move on is ridiculous. You can already sense the public's fatigue to the situation. It isn't going anywhere anytime soon. We don't have to like it, but there is always a cost, a rub, etcetera, and this time is no different.