Benjamin Franklin had it right. Sometimes when I read history, I’m amazed at how history repeats itself. This quote from Old Ben says it best in describing some of the reactionary measures taken with regard to our ongoing economic conditions.
All human situations have their inconveniences. We feel those of the present but neither see nor feel those of the future; and hence we often make troublesome changes without amendment, and frequently for the worse.
– Benjamin Franklin
I think we lack patience as a community. We have created policy, procedure, and political ramifications lasting far longer and doing more damage than waiting for the market to cure itself. Like life, the market finds a way. The market is like a might river moving in one general direction but occasionally rising above its banks (flooding) and conversely not reaching its banks (drought) at other times, but it still moves in generally one direction. You get the idea. Sometimes the cure is worse than the disease.
MyTownCryer 
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