30 September 2008

"Mom, what does the bailout mean?"

Yes, my 9 year old and 13 year old have been asking me these very questions over the past few days. And then you stop, and try to come up with an answer and realize how literally ridiculous it all is. There is no one answer beyond stupidity and ignorance and selfishness, but that answer won't explain anything to them!
Short of giving them a brief overview of Econ 101...I had to come up with something. And then, last night, I was watching the news. Robert Krulwich made a cartoon about it.
here it is....it's a basic, probably somewhat accurate depiction of how our economy works and what the bill is trying to accomplish:

What's a credit crunch?

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