<sarcasm><snarkiness>Hey kids. Apparently, we’re in a recession and no one knew.
That’s right no one had ANY idea. The Eeekconomy is surprisingly down. It is definitely good reason for the markets to pull back because everything changed today, with the DOW dumping nearly 700 points. I mean, telling us there is a recession is definitely good reason to go sit on the curb and cry.
Excuse me while I go sell all my stocks and move everything into bonds and CDs. I’m going to make sudden financial decisions without thinking about them.
I am going to save rotten cabbage cores and carrot stalk ends to make soup.
Fill up your tank now and hoard that gas. Put crunchy dollar bills in your pillowcase.
Oh No, oh no. The sky is falling, or certainly looking Munch-ey like.
Sell the kids and pets for food. All signs point to apocalpyse.
Buy guns, for the end of the world is nigh.
Steal your neighbor’s newspaper.
Don’t buy anything.
Yadda yadda.
</snarkiness></sarcasm>
[Editor’s Note: I didn’t feel like doing any blogging today. See you in a few days?]
Source: CNN and other AMAZIN’ Newz sites
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December 1st, 2008 at 9:12 pm
Early information on Black Friday seem to indicate that people are still spending as much as ever at this point, though there are all sorts of caveats attached to the early sales numbers (price cuts were deeper so profits were lower, etc.).
I do wonder how much more stabilized things would be if people were a little calmer. Personally, I haven’t changed a thing since this all started. If anything, we’ve increased spending just a little over previous years at this time, but then again we weren’t in debt or dealing in stocks so there was no reason to panic.
Still, if you’ve got stocks, now would be a horrible time to sell as they’ve already lost a lot of the value they’re going to lose (IMO). It’s best to ride the storm out and wait for a recovery.
December 3rd, 2008 at 9:03 am
@orchid - We pretty much haven’t changed that much either as far as finances go. There was a period when all the banks were failing, including our own which is WAMU, that I was seriously looking around at options for storing short term money. I think I still might look into moving some of that into either CDs or at least a bank or credit union that has better interest rates. But other than that, pretty much everything is static…