My Turn, Your Turn: The recession - WECT TV6-WECT.com:News, weather & sports Wilmington, NC

3.10.09

My Turn, Your Turn: The recession

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By Gary McNair - bio|email
Posted by Debra Worley - email

Nobody ever accused me of being a fast thinker - especially when it comes to complex issues.  But thanks to all the expert opinions, I am beginning to understand this recession thing.  I've learned it's not as much about fundamentals as it is about perception. 

The "Feds" have done a good job making sure there is plenty of money available.  That money is just not moving around yet.  Those that have money are too scared to spend or lend.  Seems like that's what has us all bogged down. 

What this country needs now more than ever is a giant dose of confidence.  We need to hear words of hope and encouragement from our government and business leaders.    

We've been through worse - much worse.  Look back at the Civil War, the Great Depression and the Dust Bowl if you want to see some really bad times.  Americans made it through those difficulties and ended up being stronger and better. 

Our glass is way more than half full.  In fact it is over 90 percent full for employment and a little less than that for people paying their mortgages. 

Well, I've also never been accused of being a pessimist - - and I'm not about to become one now.

That's my turn.  Now it's your turn.  To comment on this segment, or anything else, email me at yourturn@wect.com

 

Viewers' Response:

I certainly agree with your opinion that consumer spending will lift our country out of recession.   But it seems to me that there is another facet to restoring citizen's confidence in our economic and political system, justice.   The justice that helps to ensure that this greed will never again force the economy of the entire world into recession.

When will those responsible be brought to justice for ‘bending the rules' when formulating the risk rating of CDO's (collateralized debt obligations)?   These packaged ‘sub-prime mortgage investment vehicles' were sold around the world by companies in the United States.   Then the CDO ‘house of cards' crashed.   Yes, greed in our own country caused this world wide calamity.

I'm embarrassed for our country, but I am a patriot who holds his head high.   The United States will persevere and we will lead the world to truth and justice and ‘The American Way' once again (thank you Superman).

But first, I would like to see justice, and then I'll buy a new car!

 

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