I don't know about you, but this whole $700Billion bailout is making me crazy! Everyone, and I mean everyone, is talking about it. I tried turning off CNN, MSNBC, and CNBC (I wouldn't watch FOX News if it was the last channel on earth!) but it doesn't matter. The check-out lady in the grocery store couldn't stop chattering about it. The UPS guy who delivers my QVC packages had something to say about it. And the list, goes on and on! People are not only nervous about their money, they are downright angry! And so am I!!
Now, I know that Paulson is a nervous wreck and this deal needs to be done yesterday; I get it. But if you think that we, the American people, should shell out 700 billion sheckels with nothing in return, you probably also still believe that there are WMDs in Iraq. Get a grip, people! This isn't a bailout; it's a gift! Do you really want these thieves, who have brought our economy to the brink of total devastation, spending next weekend at their homes in the Hamptons? Not me. Nope I won't be happy until they are spending their weekends in a cardboard box behind a Bodega in Queens.
I also believe that we, the American people, should receive something in return for this huge gift we are about to bestow upon these thieving creeps. Someone has suggested that we should all receive a 90 point bump in our FICO score. Or, how about this idea - a one year amnesty on mortgage payments. I was also thinking that we should all receive a one-night stay in the Lincoln Bedroom, complete with a continental breakfast. Any of these ideas would work for me and I'm sure you've come up with a few of your own. If you have, post them as comments on this site - I'd love to hear them!
Peace Out!!
Showing posts with label Wall Street. Show all posts
Showing posts with label Wall Street. Show all posts
Tuesday, September 23, 2008
Friday, September 19, 2008
Money, Money, Money...
..I'm sick of it; sick of talking about it, sick of thinking about it, and sick of hearing about it!! I go to bed at night watching CNBC and I wake up in the morning watching CNN. Granted, I'm a news junkie, but this is becoming a bit of an obsession. When I sleep, I dream of green arrows that point up and red arrows that point down. The drone of economic analysts spewing advice from the television has become the soundtrack of my life. Suze Orman tells me to relax while Hank Paulson is saving every bank in the country. What to do, what to do, what to do!!!
The one thought that continues to jump out and slap me in the face has to do with the current election campaigns. For months now, I've heard pundit after pundit suggesting that Barack Obama is a socialist and that his election will surely lead to socialism. Well, I've got big news for everyone - George Bush, Hank Paulson, and Ben Bernanke have beaten Barack to the punch. The bailout of AIG has provided us with an insurance giant owned by us, the citizens of the United States. The news this morning, though very preliminary at this early hour, seems to suggest that we will also nationalizing the U. S. banking system. So the way I see it, we now have a socialized economic system and capitalism is about to go the way of property on Galveston Island. If you disagree with me, try this on for size - socialism is defined as a "socio-economic system in which property and the distribution of wealth are subject to control by the community". I'm thinking that we are definitely the community and we will shortly be in charge of Wall Street, State Street, and every other banking street in our country.
Now, don't get me wrong; I'm as worried as everyone else. I have money in this very insecure financial sytem. I have a mortgage, credit card debt, and car payments just like everyone else. And, I believe that our government has a responsibility to shore up our financial system so that we don't quickly fall in to the deep abyss of another economic depression. But let's face it, even if you put lipstick on a pig, it's still a pig!
Peace Out!!
The one thought that continues to jump out and slap me in the face has to do with the current election campaigns. For months now, I've heard pundit after pundit suggesting that Barack Obama is a socialist and that his election will surely lead to socialism. Well, I've got big news for everyone - George Bush, Hank Paulson, and Ben Bernanke have beaten Barack to the punch. The bailout of AIG has provided us with an insurance giant owned by us, the citizens of the United States. The news this morning, though very preliminary at this early hour, seems to suggest that we will also nationalizing the U. S. banking system. So the way I see it, we now have a socialized economic system and capitalism is about to go the way of property on Galveston Island. If you disagree with me, try this on for size - socialism is defined as a "socio-economic system in which property and the distribution of wealth are subject to control by the community". I'm thinking that we are definitely the community and we will shortly be in charge of Wall Street, State Street, and every other banking street in our country.
Now, don't get me wrong; I'm as worried as everyone else. I have money in this very insecure financial sytem. I have a mortgage, credit card debt, and car payments just like everyone else. And, I believe that our government has a responsibility to shore up our financial system so that we don't quickly fall in to the deep abyss of another economic depression. But let's face it, even if you put lipstick on a pig, it's still a pig!
Peace Out!!
Monday, September 15, 2008
Be Afraid. Be Very Afraid!!
I don't know about you all, but I'm frightened, really frightened! Lehman Bros. is gone, Merrill Lynch is selling itself to Bank of America, AIG is looking for cash, and I now own a piece of Freddie and Fannie. More concerning though is that the outlet malls are nearly empty. I saw it firsthand this weekend when we went to visit Patrick. I don't even know the name of the mall near his school but we usually make a stop there whenever we visit. Normally the stores and walkways are full of shoppers from the local area, upstate New Yorkers shopping tax-free, and Canadians looking for bargains; but this weekend was different. There were people, lots of them if you've never been there before; however, I noticed the difference and I'm sure the retailers have as well. There just didn't seem to be the pushing and shoving shopping frenzy that is typical and people seemed to be doing more looking than purchasing.
Along with the shopping downturn, there seemed also to be less business in the local restaurants. Usually the wait for a table is horrendous, but this weekend one of the restaurants we frequent actually took a reservation for us. I was amazed to say the least. It just seemed as though the general attitude was different; more accommodating and less hassled. The whole shopping and dining experience was abnormally enjoyable even though the cause is so scary. Though our household hasn't been much affected, except for the increased cost of gas and groceries, I'm beginning to feel the economic malaise begin to trickle down to the level where we all live. It's become more than just a news story on CNN, or a political issue to be debated. It's real, folks, really real! Some have called it the worst economic downturn since WWII.
But the part that scares me the most is the attitude of those to whom we look for reassurance - Wall Street. Oh, sure, we get a little jumpy when Wall Street gets jittery. But the tone today is more than the typical jitters; the tone today seems to be full of fear. And, I don't know about you, but when the financial power brokers on Wall Street are afraid, I pay attention. That being said, what do we do now? Do we put the little we have left in shoe boxes under our bed? Do we plant vegetable gardens so we can be assured of a food source when the money is gone? Six months ago those suggestions might have sounded absurd but now I'm not so sure.
Peace Out!
Along with the shopping downturn, there seemed also to be less business in the local restaurants. Usually the wait for a table is horrendous, but this weekend one of the restaurants we frequent actually took a reservation for us. I was amazed to say the least. It just seemed as though the general attitude was different; more accommodating and less hassled. The whole shopping and dining experience was abnormally enjoyable even though the cause is so scary. Though our household hasn't been much affected, except for the increased cost of gas and groceries, I'm beginning to feel the economic malaise begin to trickle down to the level where we all live. It's become more than just a news story on CNN, or a political issue to be debated. It's real, folks, really real! Some have called it the worst economic downturn since WWII.
But the part that scares me the most is the attitude of those to whom we look for reassurance - Wall Street. Oh, sure, we get a little jumpy when Wall Street gets jittery. But the tone today is more than the typical jitters; the tone today seems to be full of fear. And, I don't know about you, but when the financial power brokers on Wall Street are afraid, I pay attention. That being said, what do we do now? Do we put the little we have left in shoe boxes under our bed? Do we plant vegetable gardens so we can be assured of a food source when the money is gone? Six months ago those suggestions might have sounded absurd but now I'm not so sure.
Peace Out!
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