Allow me to ramble for a few minutes......
Wow, December 1st. This year positively flew by. Did anyone think we would be where we are? The economy is in shambles, the government is trying everything short of dropping a nuke to stop the collapse. Paulson, Bernanke and the rest of the financial "experts" are changing direction faster than a yo-yo. They're all a bunch of freaking retards.
It's official we are in a recession and have been since last Dec. Is that the biggest "no duh" in the lost sad history of economics. Really, did anyone not know this. Yet the stock market reacts like is taken by surprise, the shock of all shocks. And what's up with the stock market these days. Up 5% down 7%, that's fine for a year but geez this is happening daily.
Wamu is getting ready to axe 9200 workers after being taken over by JP Morgan.
Unemployment in going through the roof. Currently nearly 10% in the IE
We are nearly 11 TRILION dollars in debt as a nation. Much, much more if you count future obligations like Social Security, Medicare etc.
The banks are now stating that they plan to reduce the amount of credit card exposure they have by 2 Trillion over the next few months. That means they will be closing accounts, reducing account limits and increasing interest rates. That's great news except when the guy in front of you at McDonalds is trying his 4th card in an attempt to buy his Big Mac and Fries. Don't laugh that happened to me a few weeks ago.
What about those Car Companies? Now they want a bail out. Eh, NO! WHo cares if GM goes belly up. That just means that Nissan, Honda and Toyota will build more cars in the US to take up the slack. Let the profitable companies stay in business. Let the rest fail. As a taxpayer I don't want tax money going to car companies just because they are "American". Give me a break, 90% of the parts are made overseas and when I call Chrysler customer service I end up speaking to Rasneesh in Bangalor.
The real estate market has definately been ineresting this last year. It went from, stick a fork in it dead, to almost normal numbers in some areas. Of course the market is now foreclosures and not much else. With all the other problems I'm surprised that homes are selling at all.
We have 30 more days of 2008 and after the last 11 months I don't think anything can surprise me now.