Random Thoughts: It’s The Economy Stupid! (edition)

in Economy, Election, Elections, Random Thoughts

Well an eventful week all around with the Western economies all on the brink of collapse and me reaching a milestone of sorts, and it’s all summed up with my catch phrase for the week.

It’s The Economy Stupid!

Around the blogs we read the following:

  • Michael James writes about Lessons Learned from the Great Depression, where he asks two very pointed questions at the end of the post, that we must all think about.
  • The Canadian Capitalist asks a timely question (especially for me) Thinking About Worst Case Scenarios, where he outlines some points to think about in these hard times, especially if you think you might lose your job.
  • Larry MacDonald points out that The Stock Market Hates You!, gee thanks Larry, way to cheer me up with the headline!
  • My Money Blog talks about Current Market Conditions: His Opinions, where he outlines maybe we should just all stop watching so closely? It’s kind of like asking someone not to watch a 300 car pile up going on outside of their house, but not bad advice.
  • Gail Vaz-Oxlade talks about how Credit Limits Going Down, not just credit rates, but limits too! Read on, as the sage of savings straightens you out.
  • Free Money Finance points out How The Rich Get Poor, interesting in these times that there are still spendthrifts out there.
  • I even had a momentous moment with Posting Number 1000 this week, which is funny given the futility of things sometimes, but I am still at it, for now.
To my Canadian readers I wish you a Happy Thanksgiving, enjoy the long weekend. My family will reunite for the first time since my daughter left for school in September, and we will have much to be thankful for (as we always do).
Also remember to Vote on Tuesday, or at the early polls on the weekend, let your voice be heard, because if you don’t vote, you don’t get to complain (house rules).

{ 3 comments }

  • Monty Loree October 11, 2008, 6:27 AM

    So.. the U.S. economy is desperate for credit to pay for their credit… and the banks don’t trust each other.

    Doesn’t that make the U.S. banking system bankrupt?

    The U.S. banks aren’t trusted enough to get credit. Isn’t that the case with somebody who just went bankrupt from too much debt.

    Just a quick opinion.

    Reply
  • Tony October 10, 2008, 11:20 PM

    Today marks one week of financial turmoil in the world markets, a fictitious and fabricated recession – only one problem with that specific wording – The only country that truly has any problems is the USA. All these financial institutes should get a grip on reality and themselves – they are no different than our own households. When things go bad with household income – the leader of the house or the person that runs the household, makes precise decisions in order to curb the losses sustained or the losses predicted to be sustained before they happen. This has not been evident with the US financial institutes – they have been mismanaged for years, and now the mismanagement has reached to the point of no return. Yes, many will say that banks and lending institutes from abroad have also contributed to take a loss – this is only because these financial institutes took risks as any business does – it could have been profitable and non of us would have heard of any repercussions when earning billions of dollars – but now that they have lost, and they ask for hand-outs, we now hear of the problems related to the hard economic times we now face. – well ladies and gentlemen “Business is Business”, and it is unfair for governments or countries (via “on the backs of tax payers”) to bear the brunt and contribute in order to keep these mismanaged companies afloat. If these financial institutes have made bad decisions – then they should be allowed to fail. Had any of us faced the same circumstances – the banks and governments would have ushered us to go into bankruptcy – the two scenarios should be no difference. These governments have absolutely no right in allowing any bailout programs.

    The Canadian Government as well as the British, Italian, German, Iraqi and European governments should all band together and spell out that their counties do not share the same financial problems as the USA, and that these financial problems are solely that of the USA, and the USA should not drag other countries down with their financial worries

    Stock markets around the world should not be reacting negatively, instead Canadian, Italian, British, German and most European countries should all be booming with indexes going up not down

    The media has done an excellent job securing false and fabricated fears in the world markets

    Facts – the USA has more debt than any other country
    The USA continually spends billions on a war that they should not be involved with
    The USA will never be able to pay off its debt in our lifetime

    These are the facts

    Reply
  • michael James October 10, 2008, 7:03 AM

    Thanks for the link. Have a good weekend.

    Reply

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