Monday, October 13, 2008

There's always a sunshine after a big storm

This days might be one of the hardest day in our life. The Dow Jones is down nearly 20 percent this week, its second worst week since December 1914.The credit system is frozen. The banks are afraid to lend anyone money since they’re all run out of money too because people are taking their money from the bank. They’re afraid if they will lose their money. Many people freak out and panic because of the economic crisis we’re facing right now. Wealthy people are afraid of losing their money. Many poeple are questioning what’s going on in our country and some of them are blaming each other for what’s happening right now. Even, The Bailout Bill has already passed the House, the economic condition doesn’t seem to get better but the opposite side it’s getting worse and worse, the Bailout doesnt seem to help as much as we expect it to be, but Larry Kudlow's article in National Review Online, “The Light at the End of the Crisis” said that we have to be tough because all of this things will finally end. The “storm” will not last forever, There’s always a sunshine after a big storm. I think everyone who read his article will think he’s just being optimistic but he didn’t say that with no reason If you read Wall Street Journal op-ed of Friday written by John Steele Gordon, in his article he said that every 20 years there has been a financial panic throughout the American history. Back when the Hamilton was orchestrated the first banking bailout in 1792. From this came a regular money-supply system, a credible U.S. government debt system, and something of a disciplined banking system. What Kudlow is trying to say is we will have a better or stronger financial system after this “disaster” we’re facing if we can survive and work it out together. He also said that we need Government intervention in our free-market-economy system to stabilize the banks. I personally think what he said is true.

Lawrence Kudlow is host of CNBC’s "Kudlow & Company". Kudlow is a nationally syndicated columnist and also hosts his own blog . He is a contributing editor of National Review magazine, as well as a columnist and economics editor for National Review Online.

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