Anxiety feeds anxiety?

“Anxiety feeds anxiety”, said President George W. Bush today.

This comment comes from a man who has build most of his Presidency mostly around fear! Looking at the free-fall of the Stock market, one wonders, how one would not develop a feeling of fear.

It was said that ‘the current crisis started with a burst housing bubble, which led to widespread mortgage defaults, and hence to large losses at many financial institutions.’

However, was this the only problem? Or could this current crisis be also related to the American mentality of spend, spend, spend?

If the fundamental believes in saving and investment are themselves seen as not essential to the economy in the short term, what then is essential? Shouldn’t we learn from this crisis and rethink our spending behavior, especially this unlimited credit mentality.

Shouldn’t we rather go back to the “old” principle of living within our means and spend only as much money as we can truly afford?

I know such suggestion does not ring well in the ears of the greediest who have been cheering us on to spend, spend, spend, to jump-start the economy.

However, wasn’t this mentality what got us into this mess in the first place?

Think about it!!