If I were to describe the serious situation of our economy today in a rather simplified way, we would need to be prepared to think in Titanic terms.
A huge ship containing all that is valuable to us, manned by a drunken crew has rammed into the base of a dam holding millions of gallons of water vital to our existence.
The crew has left the apparent sinking ship and now we know, that if the ship were to be removed from its present position, that the ship would collapse and the dam would soon follow and we'd all be inundated. Some say that the builders of ship and the dam are to blame, not the crew of the ship.
It seems that the only thing that we can do for the moment is to re-enforce the inserted hull of the ship to maintain its additionally required engineering integrity, hoping to give it sufficient structure to keep the dam from completely falling apart.
Yet we must eventually remove the ship and keep it in tack and at the same time maintain the dam and strengthen it while keeping the water from flowing out.
This is what our in-coming president will be confronted with as he comes into office. Yet instead of it being an engineering job, it is more of a nebulous economic problem.
At the present time President Bush is saluting the flag all over the place and waiting to go on a long vacation.
He has left his Treasury Secretary with his hands on his head to run around this situation to try to plaster around the hole that the ship has made in the dam to keep the water from running out of the dam.
He then returns to give speeches about the problems he's having with making different types of plaster stick to the ship and dam at the point of impact.
This is our present situation. Now, are we capable of solving the problem?
Here again is the problem: if the ship remains in the dam, the economy is at a stand still, sliding into depression. If we cannot remove it and keep it afloat while at the same time keeping the dam from collapsing, then the whole economy is devastated.
Not doing anything or not doing the right thing is going to lead to economic devastation. Some will say that this is an exaggeration, a “sky is falling” description, and perhaps it might be an exaggeration, but on the other hand?
We need to take action. An earlier transfer of power to the incoming president would certainly help a lot. President Bush, why not? These are not normal times. Who can deal with what's happening in India during the next two months? I suggested moving transfer of power to after Thanksgiving. The sooner the better. Could someone pass this on to President Bush? An early vaction would be nice, Mr. President.