Friday, September 26, 2008
Economic Decline - WARNING
This is a major ramble that is on a very controversial subject, but I'm just besides myself and this is the 'safest' place for me to speak my mind ... so ignore, or read: What a way to wake up to a Friday. WAMU seized. JPMorgan buys assets. If you’re a depositor, don’t worry. If you’re an investor, too bad. My (independent) accountant at the office came in this morning. She had been telling me for 3 weeks that WAMU was going down. Hmm. She was right. She now says, get cash & canned goods.
. I already have canned goods. But cash? Where do you get cash from? I can’t very well sell out my stocks & clear my portfolio. Wouldn’t that just contribute to the overall problem?
As far as the bailout. Well, I really disagree with the whole concept in general. After all, we, the American people, who are trying to do the right things, responsibly, are going to have to, in the end, help out those big, greedy corporations (and their officers) become successful again. On my dollar? On my children and grandchildren’s dollar? No. I really wish the people would stand up and say NO. It’s not ok for me to screw up and not pay my mortgage. I mean, hey, the government, let alone the large banks aren’t going to say, hey, Jan, its ok. You know what. We will just give you this money and you sit pretty and all the bad stuff will go away. Go ahead, take that cruise to nowhere. Buy that new car and boat. Oh, and you know, while your at it, get yourself a new wardrobe & 2nd vacation home. It’s ok that you can’t pay for it. That’s what the government & other US citizens are for. To take the fall out. I’m just very very very skeptical about this whole bail out.
Most people are SCARED right now. The uncertainty of it all. Money. Jobs. Gas/Fuel. The cost of living is rising. Incomes aren’t. The value of the dollar is certainly shrinking. However, we are told not to panic. We will NOT go into a depression. Well, maybe not financially BUT certainly mentally. How can you not??
If I could, I would sell everything last thing I owned, liquidate it and move to some island in the middle of nowhere, living on the land. I mean, heck. It might come down to that right here in America from the tone of things around me!
So. What am I going to do? I’m going to continue doing what I’ve been doing. Minimize spending. Save more cash. When my 30 Days of Nothing is done (4 more days) I will take stock of my pantry (which is still overflowing, actually) and prepare for a hurricane type crisis. Who knows, maybe a fairy will come in, wave her wand & all will be just fine!