Becky Explains the Economy

Once upon a time a whole lot of people borrowed a whole lot of money.

They went to Disney World.

They bought cool clothes and toys. Lots and lots of toys.

They bought shiny things in happy colors and things they didn't really need. "I deserve it" was what they said. "I want it now."

It was wicked fun. It was so much fun that they kept doing it and doing it.

It was like getting to see Curious George over and over and then Barney after that and then George again and then having pizza and cupcakes and Hershey's kisses and ice cream all day long and no broccoli.

The Big People didn't say no. The Big People were the ones doing it.

Some Big People are called Adults for no reason. They bought houses with no money down. No money down means you don't have to pay for it. That's what the Big People thought. It's what you call a bonanza. Or irresponsible. These houses were called McMansions, which is sort of like a hamburger at McDonald's except the hamburger ends up being worth more.

YEAH! PAR-TAY! LAISSEZ LES BON TEMPS ROULER!

That means "we can't pay" in French.

No, there's no Big Bad Wolf in this story, I'm sorry. There's a lot of Big Scary Stupid People, though. Some of them took these loans and wrapped them up in packages and sold them to other Adults who wrapped them up and sold them again.

Pretty soon there were lots and lots of packages. Then the Big People on Wall Street sold insurance policies and credit swaps and they were all packaged and gift wrapped and put under a great big no-money-down Christmas tree.

But you know who showed up then, right, Maeve? And it was a big funny joke. Nobody could pay back the money!

And then some really bad stuff got in front of a fan. A great big fan, way bigger than this one.

I'm sorry I don't know the ending. Everybody is hoping that Timmy the Wonder Boy will save America. No, he is not a monkey, but some people think he is a weasel. I don't, though, honey. I think he will try his best. I'll try to finish the story for you next week, how's that?

A bientot

love,becky