Ah, very little to post about today. As we all know, yesterday was a painfully naseuous day on Wall Street and D.C. We’re going to have a few more of those days.
Knowing where we are is important. Having your own private plan is important. But you don’t have to stay glued to CNBC, FOX News, or listen to the radio all day. Live your life, the rest will fall into place, even if it’s not a place we like.
With or without the bailout we’re going to have issues. That’s the bottom line. Spend wisely, spend on needed items, and skip the frivolous stuff. That’s what I’m doing.
This morning I read Bill Fleckenstein again. His latest column addresses the fact that short selling has been banned. You can’t bet against bad companies now. Short sellers are “bad”. Once again, the market going up or down isn’t bad, it’s a function of the markets, that’s all. On the second page of the article there was a gem of wisdom that I couldn’t resist.
Now, he’s speaking about the current crisis in this quote. But here’s the fun thing. This is exactly what’s been going on for well over a decade. Markets get closed on bad news, the government intervenes in the home loan market, etc. And this is the behavior that has led us to this point. If you had to sum up the whole issue in a short note, the above paragraph would fit perfectly. Well, it worked for me at least.
On a personal note: My family is on their way to Arizona. The great road trip of their lives (they’ve never been West on a road trip). I sincerely hope that things get worked out so we can have a softer landing and my family can enjoy what most likely will be their first and last big road trip. At least, last for a long time to come.
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Yes. It’s time to keep living our lives…and I for one, am happy with the amount of “stuff” I’ve amassed…at least I don’t really NEED anything for a long while…well, except that pesky food thing…tee-hee!
Godspeed to the family…I am so very excited to show off our corner of the world pretty soon 🙂
I’ve banned the news from the house this week. I know I’m okay, but it will send my worry-meter into overdrive.
I’m sending a friend over to here to read your post from last week explaining the situation. You explain it in layman’s English…
…And this is coming from someone who flunked basic econ (macro and micro) in college! Yep, I flunked…I probably know more than I give myself credit for.
I hope your family has a wonderful trip in Arizona. Enjoy … wish I were there…Hugs!
Pesky food thing is right. In three days a 3 yr old and a 15 month old ate 4 lbs of grapes, 3 lbs peaches, 5 oranges and 1 lb of pineapple. Plus they ate other stuff too.
Hopefully they will like AZ better then TN.
Rich, I’d forgotten that you have such a background in economics, but discovered you answered many of my questions about the bailout in some of your postings. So now I’m logging on to your site not only for the opportunity to see great photos but also for help in understanding our current economic crisis.
Banff and Jasper were great, and I agree: it’s also one of my favorite places.
Bert
Author
Bert,
I’m so jealous…..Banff & Jasper! Wish I had been with you!!!