Financial Free For All
February 20th, 2009. Filed under: Finance & Fitness Fridays.It’s starting to get really crazy in the financial world.
Obama signed the “stimulus” plan and is already talking about another one. The Dow Jones industrial average closed down 297.81 points on Tuesday, or 3.7 percent, to 7,552.60. GM wants to go on the dole permanently. The plan to reduce foreclosures is expected to include subsidies for borrowers that a lender would have to match. California is broke and has it’s hat in it’s hand. Part of the stimulus money is supposed to go for education, but that doesn’t stop states from raising tuition for higher education. New York is spending $45 million to retrain laid off Wall Streeters. Weren’t they some of the ones who got us into this mess?
And now according to The New York Times, the Federal Reserve cut its economic outlook for 2009 and warned that the United States economy would face an “unusually gradual and prolonged” period of recovery as the country struggles to climb out of a deep global downturn.
It’s not just financial chaos here in the States. It’s traveling around the globe. You can see an update on this at The Washington Post. And now bank runs?
And so it continues from global, national and state levels on down to personal financial decisions. No one seems to be thinking things through before acting. Isn’t it time to start being less hasty? We’re going to be in this mess a long time. Let’s settle down, look things over and make decisions in a more rational manner. What kinds of things are you and your family doing differently now that we’re in a depression recession?
February 20th, 2009 at 13:47
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