October 6, 2008
The End of the World As We Know It
The stock market roller coaster is continuing unabated, last week's $700 billion bailout notwithstanding. Mid-morning today, the Dow Jones industrial sank more than 400 points, falling below 10,000 for the first time in four years, while the credit markets remained under strain. What's more, the credit concerns that have been plaguing the U.S. now spreading to the European markets, with stability still nowhere in sight.
Look for this to dominate the news and the campaign trail (in addition to Palin accusing Obama of "palling around with terrorists who would target their own country") in the days ahead.
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only chris daly can save us now.
Kudos to you Brock, for resisting the temptation to use a photograph of a crestfallen broker to illustrate the severity of the downturn. That shit gets old.
What are the odds that the city of Oakland can make November payroll? Not good, not good.
ah world, i hardly knew ye.
OH NOES! OH NOES! OH NOES! OH NOES! OH NOES!
THE NEWS SAYS I SHOULD BE SCARED THE WORLD IS GOING TO COLLAPSE I AM ONLY 18 AND THEREFORE NO DEEP RECESSION HAS EVER HAPPENED IN THE HISTORY OF THE WORLD BEFORE SO OH NOES! OH NOES! OH NOES! OH NOES!
Eh, whatever. I'm going for happy hour at Olive.
My two picks:
http://img210.imageshack.us/img210/8955/failkx4.jpg
http://tenpercent.files.wordpress.com/2008/09/6a00d8341bf82953ef010534d60091970c-500wi.jpg
There are some seriously spectacular
apocalyptic headlines running around today.
Heh. That's why I never plan for my retirement.
Here's an appropriate image:
http://tinyurl.com/4f7peo
My top 3 items to shut up a Republican today ...
1) Video of SNL skit of the VP debate from this past Saturday night
2) McCain's Michael Dukakis "helmet riding around in a tank" moment: "The economy is fundamentally fine" followed up by "Oh, shit!" a few short hours later.
3) McCain the great "deregulator" and accounting malfeasance enabler - Keating 5 http://www.keatingeconomics.com
My 401(k) is safely invested in my shoe closet. And to my bosses who kept insisting I should invest in the stock market, to you I say, HA! Enjoy crying all over your financial statements.
I've always wondered, that stimulus package that gave everyone $300 free smackeroos, did that really help out our economy, because I burned that shit at the gas pump in no time.
Good tip, remember savings bonds? The "I" bond is actually at a sweet rate just over 7% (always goes with inflation), but the catch is that there's a minimum 5 years, otherwise you get nailed with a 3-month interest penalty.
Actually, screw the bond, you can get it that high if you save the damn thing for like 8 years. I just punched it in my savings bond calculator.
8,000 is the new 9000...