Monday, Ike, Economy
Sep. 15th, 2008 06:29 pm![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png){kind=small}
helwenThings are going well here on the farm -- moved a bunch of stuff, got the bugout kits mostly re-packed and sitting pretty in the closet. L folded up the sofa bed -- we've had it out since just before Pennsic :D Did some clean up in the pantry, with more to come no doubt. Have to get to the fingerlings tomorrow. Weather was great today and promises to be nice tomorrow too.
Unfortunately things are not going so well in TX, LA, and other states because of Ike. It's a fact that a lot of people from Texas won't be going home any time soon, and given the photos I've seen of Galveston Island and some other places, possibly never. Certainly many won't be going back to their exact homes at the very least, since those don't exist any longer. I expect a lot of folks will end up being permanently re-located.
Meanwhile, Lehman's isn't being bailed out (which is actually a good thing, although hard on the investors and employees), and the U.S. Fed gov't has said they're done bailing these guys out. Merril Lynch will probably be bought by Bank of America but AIG is teetering as well.... meanwhile, although the stock market dropped 504 points Paulson points out that it could have been much worse (which is true), but that things will work out in the end (possible). But him and Bush commenting that the economy is still fundamentally sound.... um, what? I don't think anyone can claim that until the dust has settled from things like the current housing troubles, among other things, and that isn't likely to settle until next year at the earliest.
What can us regular folks do? Pay down/off debts, buy extra groceries if possible (they're going to go up), live within one's means, spend as little on utilities as possible, walk/bike/bus more, combine errands when driving, save some money aside if possible. But, don't forget to occasionally spend time with friends and/or family -- plenty of fun things one can do that don't require lots of money :)
Unfortunately things are not going so well in TX, LA, and other states because of Ike. It's a fact that a lot of people from Texas won't be going home any time soon, and given the photos I've seen of Galveston Island and some other places, possibly never. Certainly many won't be going back to their exact homes at the very least, since those don't exist any longer. I expect a lot of folks will end up being permanently re-located.
Meanwhile, Lehman's isn't being bailed out (which is actually a good thing, although hard on the investors and employees), and the U.S. Fed gov't has said they're done bailing these guys out. Merril Lynch will probably be bought by Bank of America but AIG is teetering as well.... meanwhile, although the stock market dropped 504 points Paulson points out that it could have been much worse (which is true), but that things will work out in the end (possible). But him and Bush commenting that the economy is still fundamentally sound.... um, what? I don't think anyone can claim that until the dust has settled from things like the current housing troubles, among other things, and that isn't likely to settle until next year at the earliest.
What can us regular folks do? Pay down/off debts, buy extra groceries if possible (they're going to go up), live within one's means, spend as little on utilities as possible, walk/bike/bus more, combine errands when driving, save some money aside if possible. But, don't forget to occasionally spend time with friends and/or family -- plenty of fun things one can do that don't require lots of money :)
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"Just Another Panic Monday..."
Date: 2008-09-16 01:58 am (UTC)Although if I had a grand or two to invest, I'd be tempted to buy some Fannie Mae. Sure, it's in the toilet right now, but if the Feds don't dissolve or nationalize it, someday Fannie Mae stock will be worth money again.
It's a very ... interesting ... time to be in the financial industry (which I am--work for a major western bank). Saying a prayer of thanks that I got a job where I did, rather than at ... say ... Bear Sterns.
Re: "Just Another Panic Monday..."
Date: 2008-09-16 02:00 am (UTC)And say "Hi" to Honorable Husband.
Re: "Just Another Panic Monday..."
Date: 2008-09-16 01:21 pm (UTC)And have passed on the "Hi" :)
Re: "Just Another Panic Monday..."
Date: 2008-09-16 01:20 pm (UTC)I'm glad you're in a more stable place than Bear Stearns too! I hope your bank continues to invest wisely. We don't have anything to invest really, but we do have a CD and are working on getting another one. Our bank is Florence Savings, a very conservative and community-oriented bank.