Just when it couldnt get any worste...
What a freaking nightmare. Our jacked up economy is getting worst day by day. I thought it had hit rock bottom a few months ago but oh no, it keeps on getting uglier. The past 13 months have been a financial nightmare for many. Gas prices, stocks, banks going bankrupt, the housing market falling flat on its ass, retailers losing millions due to the unstable economy…did I miss anything? Oh yeah, just Monday, The Dow fell 504 points. That’s the biggest daily point drop since the day the market reopened after the terrorist attacks of Sept. 11, 2001. Were we attacked and didn’t know it on Sunday night?? I think I was bit by a mosquito!
Even Starbucks started closing some stores around the nation during these times. When Starbucks starts closing, you know we’re fuc**ed.
"This has been the worst financial crisis since the Great Depression. There is no question about it," said Mark Gertler, a New York University economist who worked with fellow academic Ben Bernanke, now the Federal Reserve chairman, to explain how financial turmoil can infect the overall economy. "But at the same time we have the policy mechanisms in place fighting it, which is something we didn't have during the Great Depression."
The great depression? When was that? 80+ years ago!!! That’s crazy. Haven’t we learned our lesson from other economic downturns since to avoid having our entire economical foundation crumble before our eyes? The only thing we have going for us is that unemployment isn’t nearly as bad as it was back in the early 90’s. I know I’m digging deep for positives here but we have to look at the bright side of every bad situation. Unemployment hit an all time high of 7.8% back in 1992. We’re not too far from those figures but it doesn’t look like it can get to that point, or can it?
According to the Wall Street Journal: Debt-driven financial traumas have a long history, from the Great Depression to the S&L crisis to the Asian financial crisis of the late 1990s. Neither economists nor policymakers have easy solutions. Cutting interest rates and writing stimulus checks to families can help (NOT!) -- and may have prevented or delayed a deep recession. But, at least in this instance, they don't suffice. My check wasn’t worth jack. I thought we were supposed to get back at least a couple of hundred bucks. Me, it was chump change.
What a great time to have a baby!!! The best thing about being pregnant right now is that I feel that I’m a bit out of the entire spending money scene (well besides on baby stuff) and have the opportunity to take my leave during a time where the economy is bad. Maybe by the time I am off my maternity leave, the sun will come back up and everyone will be happy. Stocks will actually go up and be worthwhile and the housing market will normalize and everything will be hunky dory! Maybe I’m being too optimistic and this situation that we’re in is just the beginning. What if grocery stores start running out of food and I have to breast feed my baby to keep him alive? Haha… I’m just playing but wasn’t it almost that bad in the 1930’s during the Great Depression? At least we have more drugs like xanax and Zoloft to treat depression. It probably won’t be as painful on the nation as it was back then. People will just be numb.
What are we calling this thing we’re going through? The TRAGIC depression? The Wall Street catastrophe? Whatever this thing we’re dealing with is called I hope everyone stays positive and looks to the future. It’s been proven time and time again that while we are a nation that’s faced horrible times, we always manage to pick up the pieces and recover pretty darn well. With that said, its late and my insomniac ass needs to go to bed.
Even Starbucks started closing some stores around the nation during these times. When Starbucks starts closing, you know we’re fuc**ed.
"This has been the worst financial crisis since the Great Depression. There is no question about it," said Mark Gertler, a New York University economist who worked with fellow academic Ben Bernanke, now the Federal Reserve chairman, to explain how financial turmoil can infect the overall economy. "But at the same time we have the policy mechanisms in place fighting it, which is something we didn't have during the Great Depression."
The great depression? When was that? 80+ years ago!!! That’s crazy. Haven’t we learned our lesson from other economic downturns since to avoid having our entire economical foundation crumble before our eyes? The only thing we have going for us is that unemployment isn’t nearly as bad as it was back in the early 90’s. I know I’m digging deep for positives here but we have to look at the bright side of every bad situation. Unemployment hit an all time high of 7.8% back in 1992. We’re not too far from those figures but it doesn’t look like it can get to that point, or can it?
According to the Wall Street Journal: Debt-driven financial traumas have a long history, from the Great Depression to the S&L crisis to the Asian financial crisis of the late 1990s. Neither economists nor policymakers have easy solutions. Cutting interest rates and writing stimulus checks to families can help (NOT!) -- and may have prevented or delayed a deep recession. But, at least in this instance, they don't suffice. My check wasn’t worth jack. I thought we were supposed to get back at least a couple of hundred bucks. Me, it was chump change.
What a great time to have a baby!!! The best thing about being pregnant right now is that I feel that I’m a bit out of the entire spending money scene (well besides on baby stuff) and have the opportunity to take my leave during a time where the economy is bad. Maybe by the time I am off my maternity leave, the sun will come back up and everyone will be happy. Stocks will actually go up and be worthwhile and the housing market will normalize and everything will be hunky dory! Maybe I’m being too optimistic and this situation that we’re in is just the beginning. What if grocery stores start running out of food and I have to breast feed my baby to keep him alive? Haha… I’m just playing but wasn’t it almost that bad in the 1930’s during the Great Depression? At least we have more drugs like xanax and Zoloft to treat depression. It probably won’t be as painful on the nation as it was back then. People will just be numb.
What are we calling this thing we’re going through? The TRAGIC depression? The Wall Street catastrophe? Whatever this thing we’re dealing with is called I hope everyone stays positive and looks to the future. It’s been proven time and time again that while we are a nation that’s faced horrible times, we always manage to pick up the pieces and recover pretty darn well. With that said, its late and my insomniac ass needs to go to bed.
