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It's been an extraordinary time lately in the financial markets, which is quite certainly the time to re-assess a few things about what's big in the news and what's really going on in our world today.
There's no doubt that a lot of what's going on right now is going to cause real, actual pain in a lot of lives -- but we also need to keep our wits about us. It took a lot to get us here, and it will take a lot to get us out.
But while we're dealing with the "financial meltdown" now, we can't overlook some of the other elephants in the room: Medicare is going broke, we're still woefully unprepared for a range of likely disasters, and our national infrastructure needs a massive update. Pension plans all around us are teetering on the brink of failure, and our Federal debt is inconceivable huge.
Can we work our way out of these messes? Absolutely. We didn't just forget how to make the wheel; everything we know how to do yesterday we still know today. It just may take some re-assessment of the game to figure out what's best to do. In the end, free markets under the rule of law still make us better off than any other system.
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Keywords in this show: economics • Federal debt • free markets • infrastructure • Medicare • pensions