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7月17日

The banking sector is in worse shape then at any point since the 1930s

Yeah! Really wishing in some ways that we stayed in Germany but I really missed my family and needed to come back. Oh America, a storm is coming. I am no expert here but I do read and watch the news. On THe News Hour last night Roger Altman, a former Clinton Financial Advisor, stated:
 
(T)he banking sector is in worse shape than at any point since the 1930s. We've never seen such large losses so fast. After all, the credit market collapse began only a year ago right now.

We've never seen such levels of capital need on the part of all of the large lenders. And we've never seen such questions about their fundamental stability as we have right now.

And today's welcome rally notwithstanding, almost all financial observers would say that the condition of our banking system and our financial sector more broadly is more serious and a greater threat than it's been at any time, as I said, since the 1930s. This is a really perilous moment.

So yes I believe we ARE in trouble Mr. Lameduck President. Oh yes we are. Do you know that George W. Bush scheduled a press conference yesterday exactly at the same time Ben Bernanke had his press conference so that he could talk about the state of the economy at the same time Bernanke was talking to the Senate Finance Committee. What the heck is that? And while Bush was saying things like the economy is not in as bad shape as we think, Bernanke was saying the complete opposite. That in fact inflation will get worse, more banks will have problems, and there will likely be more job losses. Consumer confidence is down and so is consumer spending. Times are tough. So yes. Please let's face the facts folks! Take those blinders off. Admit, America is in for some tough times.
 
So not to sound crazy but I did buy extra flour, rice, and some soup. Hey what the heck? I have a family and like most Americans I don't have a lot of extra room in my budget for additional food price increases. Where do you cut the food? I used to buy organic. I can't afford it. I used to really read the labels and try not buy too much high fructose corn syrup, too much saturated fats, salty stuff. I still do but I also need a few snacks. I just buy less of them because it really does cost more money to eat healthy. Sad but trure. But I need to live and so does my family. So now I am cutting coupons. I used to do that but then I got lazy. I am back to it. I saved $4 dollars yesterday at BJs. Oh yes. Wholesale baby. I have to buy wholesale. I am sure that we do save money even by not having to drive to the grocery store twice a week, that saves. So that is the state of affairs. I want to go back to work but I am not sure I can find work. I started looking and didn't see much and I am not sure I can afford the childcare. Oh yes I feel the shock. Work so you can pay for daycare. Work so I can have a few extra dollars in my pocket to offset the rising cost of food and gas. The only reason I didn't work on getting a job right away is because we knew we were going to move out of the city and try and buy a house but we didn't know where. How can you get a job if you don't know where you are going to live? We are still in the process of trying to close on our house and I will not breathe a sigh of relief until we close in mid August. I have heard that banks have bailed at the last minute even after they issued a commitment letter. Well I have a commitment letter but I am being cautiously optomistic. I am trying to stay positive about the house even though I know that the value is going to drop the moment we sign the final papers. So that is that. I am done. Not really all that crazy. I mean a lot of people think I am Far out there worrying a little but guess what? I am not the expert here but the experts are telling us to brace ourselves.
 
7月1日

Paranoia paranoia you know they're coming to getcha!

Okay. SO I just talked to my dad. It is okay if I write about him on my blog because he doesn't care much for computers. But if he does read this, well he will have to forgive me. Anyways my dad seems to think that really bad economic times are coming. He is not alone. There are a lot of people out there who feel that way but he is taking it a step further and believes we need to perpare ourselves for the worst: food shortages, water shortages, sickenss...oh you know utter mayhem. He is a Vietnam Vet and I think he might be going a bit overboard but then again it gets you thinking....OH BOY what if it gets THAT bad? THen i guess we are all screwed. I have some dried fruit and nuts and a bunch of backpacking gear...but really what the heck am I going to do if it is all falling apart around me? That is all I can come to for a conclusion. There are people saying that it is a planned collapse of America so that the dollar will completely fall and we will suffer economic collapse like Argentina did because we are self-centered arrogant people who are out of touch with the rest of the world and our time has come. Well I don't know. THere are definitely a few of those here but not everyone is that way. I am not so selfish or so out of touch but you know hard times are here and more will be coming. But even though that could very well be the case, things could get that bad, I still want to believe that it will GET BETTER. I have to believe that as a Nation we can get it together and figure out how to do GOOD in the world or at the very least, help our neighbors. The midwest floods show people helping people. Heck the Ameircan people helped Katrina victims (our government didn't but regular citizens did). I still want to believe in people. If you can't see the good in the world, then what is the point of seeing? So for the sake of my family and the sake of all I will keep on believing in the greater good. Call me crazy but I have to.
 
We must be the change we wish to see in the world! (Thanks Ghandi).