A misunderstanding
One day my brother-in-law Bill turned to my friend Paul and said, "I need a job." Paul, apparently having his mind on other matters, said "What do you mean?" Bill, counting the words on his fingers, repeated "I…need…a…job! No job, no money--no money, no go beer store. Which word didn't you understand?" This is how Main Street understands money. It's the paper you pull out of your pocket at the convenience store; it's the gas in the debit card. It's the ruinous bill from the contractor, the little bone you're thrown in the pay envelope. It's the ready, the moolah, the wherewithall, the long green.
Somehow, in migrating from the leather of the wallet to the glass and steel of Wall Street, it undergoes a transformation, becoming instead financial products, liquidity, leverage, underperforming assets. (Who knew money could dance, even badly?) And lately, we hear of "toxic, radioactive assets." Green Kryptonite, one supposes, deadly to Masters of the Universe. Everybody understands a thousand dollars, but nobody understands a trillion dollars. CNN tried to humanize the proposed Wall Street bailout number by comparing it to 2000 MacDonald's apple pies for each man, woman and child in the country. Ewwww! However you slice it, Main Street is angry, and you can bet they're gonna want fries with that. It's just a question of who to drop in the fryer.Labels: economy, perception, work

