Breaking News On The Financial Front
October 6th, 2008. Filed under: Monday's Musings.The New York Times breaking news is bad news on the financial front. The Dow just dropped below 10,000 for the first time since 2004. You can read about it at Stocks Fall Sharply on Credit Concerns. There are also two related stories, Full of Doubts, U.S. Shoppers Cut Spending and Europe Tested by Financial Crisis. This financial crisis that we here in the States have created for ourselves is having far reaching consequences. Where’s that bailout and didn’t they say that would fix things? The only good thing I saw as a result of this is oil fell below $90 a barrel. Of course, that’s really a bit of good news, bad news.
I don’t know about you, but I’m one of those people who had already cut back in order to get my debts paid off as fast as I could. Unfortunately, I got them paid down, but not paid off fast enough. Now I’m going to become one of those people who are cutting back in a more drastic manner. What are you doing now? Are you cutting back or way back? I do know that Christmas was going to be less this year, but now it’s going to be even more frugal. I’ll be shopping my sewing and knitting stash here at home and giving gifts based on what I find here. I have already put my red envelope system in use for birthdays and had planned on using them at Christmas. I’ll probably still use them, but they will be thinner than I had planned.