I believe Dickens put it best

“Annual income twenty pounds, annual expenditure nineteen nineteen six, result happiness. Annual income twenty pounds, annual expenditures twenty pounds ought and six, result misery. The blossom is blighted, the leaf is withered, the God of the day goes down upon the dreary scene, and - and in short, you are forever floored” This quote from Charles Dickens' novel David Copperfield explains what America is facing.

For far too long, people have been over spending. Consumers have been doing it. Companies have been doing it. Banks have been doing it. Government has been doing it. All this overspending has created a false illusion of prosperity. Now as it begins to implode America will be floored.

There is a simple economic principle which is unavoidable: It takes work to get anything. Credit allows people to have something now with the promise to work latter. Well, America, it's time to go to work for all those things you have already bought, or worse yet, go to work for what other people have bought.

I am against this bailout for so many reasons. One reason is that I believe that failure teaches lessons. Contrary to popular belief I have experienced failure, and through the School of Hard Knocks I have learned (an sometimes relearned) valuable lessons.

I hope that a good hard knock could be used to change American purchasing behavior. Similar to the Greens who want $6.00/gallon gasoline to teach us not to drive SUV's, I want credit to dry up to each us that we don't need financing for all our purchases. Consumer electronics, clothing at department stores, and a host of other small ticket items are being sold on credit. All these things can be bought for cash. This happens when you save money for a while. You have worked and know you are free to purchase something and really enjoy it!

I really hope this is a turning point, in which people will wake up and start saving again. Until then, they are experiencing the hangover from the money party that has been going on, and has hopefully came to an end. So what will you choose: Misery or Happiness?