Watching Wall Street is better than TV lately. Yesterday, Bernanke went for the big cut, taking prime down another half a percent. For about 20 minutes Wall Street was happy. The Dow shot up 140 points. Then came the word that Ambac and MBIA, the two largest bond insurers backing the crappy subprime investment vehicles [...]
Archive for January, 2008
Better Than TV
Posted in Uncategorized, tagged Uncategorized on January 31, 2008 | 1 Comment »
Panic or another rate cut Wednesday
Posted in Uncategorized, tagged Uncategorized on January 30, 2008 | Leave a Comment »
Here in Michigan it is 7 degrees outside with fifty-mile-per-hour winds and six inches of snow with another six coming. Do I want to venture out to the call center? I do not. And yet, I do like eating regularly and living indoors, so I will bundle up and go listen to people complain for [...]
Doom on Monday
Posted in Uncategorized, tagged affiliate, conservation, freelance, oil, Uncategorized, writing on January 28, 2008 | Leave a Comment »
Really, I don’t have tons to say in the way of doom today. I actually have some good news for a change. Good news bit number one is that I asked for a half-time schedule at the call center and in March I will likely be able to cut back to 4 hours during the [...]
SuperFed
Posted in Uncategorized, tagged Uncategorized on January 23, 2008 | Leave a Comment »
The Fed saved the day yesterday. I woke up fully expecting a rerun of the 1920s with brokers and investors jumping off bridges and buildings while anxious depositors lined up at the banks to withdraw all their money. On cue, the stock market plunged over 400 points the minute it opened, but then, Bernanke [...]
$800 and a Chicken in Every Pot
Posted in Uncategorized, tagged economy, job loss, politics, recession, stock market, tax rebate, Uncategorized on January 19, 2008 | Leave a Comment »
As I write this, the federal government is working on a fast boost for the failing economy that will probably include a tax rebate of around $800 for anyone who makes under $80,000 per year, which is pretty much almost everyone. The pundits are predicting everything from a bit of continued bearishness in the [...]
A River in Egypt
Posted in Uncategorized, tagged Uncategorized on January 18, 2008 | 1 Comment »
Yesterday the Dow plunged another 300 points, taking it to a loss in first few weeks of this year of about 8%, and yet, Benjamin Bernanke still insists we are not in a recession and Nancy Pelosi thinks that consumer confidence can be refreshed by giving middle and lower class Americans a $600 tax rebate. [...]
The “R” Word
Posted in Uncategorized, tagged business, federal reserve, home sales, recession, stock market, subprime mortgage, Uncategorized, Wall Street on January 11, 2008 | 1 Comment »
Today, the “R” word–Recession–is being thrown around more seriously, the Fed is worried, Bank of America is buying out the largest mortgage lender in the US, Countrywide, to save it from bankruptcy, the US trade deficit is at an all-time high, Merrill Lynch is poised to take a 15 billion dollar loss due to the [...]
The Beginning of the End
Posted in Uncategorized, tagged apocalypse, politics, recession, Uncategorized on January 5, 2008 | Leave a Comment »
Do you ever feel like the end is near?
I’m not talking about the Christian Apocalypse. I’m talking about a more down to earth sort of End. The End of America. The End of Prosperity. The End of Normal Weather Patterns. The End of Real Jobs.
That sort of End.
I started this blog, because, after seven years [...]
