Spain vs California

News of Spain’s credit down grade caused a sharp decline in the market that was quickly shrugged off.

The EU is in big trouble. Not just because of Greece and Spain’s credit issues. These issues should be no surprise in recessionary economies just like California’s credit problems are no surprise during every US recession.

The difference is that when California gets in trouble, Virginia (just to pick a state) will always step up to the plate and bail them out. Maybe at the very last second but we wont let them go down. Why? Because we are the UNITED States. Always have been, always will be (much to Texas chagrin).

However when Spain, Greece and all the others that will soon follow get in trouble I don’t think Germany and the Netherlands are as willing to step up to the plate and save the day.

There is a lot to be said about the loyalty and compassion that Americans feel toward one another. I have traveled extensively through Europe and I am certain that they will not even come close to the great lengths that Americans will extend and endure to help our own citizens. We have a unique compassion for our fellow citizens. We mean it when we say it; “United we stand, divided we fall.” (well maybe except for Texas).

We hold truth and honor in extreme high regard. This is why a trader standing in the pit can sell $60 million in securities with a nod of the head and know the order will be a solid as a rock no matter what the price does at the next trade. This is why we can’t win in Iraq and Afghanistan because we can’t understand how other cultures could not respect these values. They seem logical to us, but foolish to others. Let them keep their values and do as they please. We will keep ours and live and die united by them.

(Tim steps off his soap box)

Tim Mack