September 30, 2008

Why do banks have branches if money does not grow on trees?

I am beginning to feel slightly obsessed - between the whole "Palin Is Failin' Yet Is Still Not Bailin'" fiasco and the sinking economy (where are the Baywatch Babes when you really need 'em?), I am not getting much done. I am constantly resisting the urge to Twitter every article I come across on both topics. I cannot quit refreshing and the NYTimes. X and I wondered at the fact that we were sitting and watching MSNBC of all things last night. Sigh. Actually, I will link this one piece on DailyKos titled "I'll Speak Very Slowly". It gives a pretty analogy of the different pieces of our economy if it were a human body, with the IT sector being a leg (you can survive without one) and with the financial services sector being the heart. Sadly, the article did not offer who the hell is the brains of all this mess, but it did explain nicely why this bailout, rescue, whatever is desperately needed.

I am also way more excited about the VP debates on Thursday than probably I should be. I predict it is going to be a grand, flaming fireball of a trainwreck of distastrous proportions. You heard it first here, folks (not really.) I have invited the lovely Average Jane over to view the spectacle with me. I am really tempted to just have a party - something along the lines of the SuperBowl because..... why the hell not? Jane and I suspect there is a fabulous drinking game to be had in there somewhere, we just need to figure out the rules so that no one gets inordinately smashed.

I have not looked at my retirement account, nor will I. Fortunately, our little sphere here is relatively safe, X and I are conservative with our nickels and dimes so in the short-term, we will be fine. However, long-term? That is what frightens me. No one is safe from the long-term if it all blows up.

I am not sure what else to say. Like most folks, I am just trying to ignore the clenching of my stomach and quell the rising bile.......


Anjali said...

I quit watching news altogether after 9/11. But now? I, too, can't stop checking

Ugh, will it ever end?

I'm looking forward to the VP debate as well, but I sure as heck hope that Biden doesn't put his foot in his mouth.

Brennan said...

So...I think there actually should be a general public service announcement that there should be no drinking games whatsoever involving Joe Biden. Alcohol poisoning is serious.

(Joe Biden is just about my favorite politician ever...but he definitely has more than his fair share of verbal tics.)

Christine said...

I haven't had anything to drink since I was pregnant with Julia, but I'm thinking about chilling a nice bottle of wine for Thursday. Or champagne. It's sick how much I'm looking forward to this.

Apparently Gov. Palin is holed up in one of McCain's AZ homes to get prepped. CANNOT WAIT.

As for the current fiasco. CANNOT LOOK anymore. It makes me want to vomit. Maybe I should chill more wine.

kristen said...

Thanks for link. It really helped me understand. So can any of you out here with some economics/business education come up with a positive outcome from all of this? Just one little tidbit of something good that might result? Or is it all gloom and doom?

I totally agree on the VP debate. I'm really afraid my neighbors may hear me laughing. The closest one is 1/4 mile away but still..

Monkey McWearingChaps said...

The whole thing has just been one wild rollercoaster and while it's historic...umm, I had rather not be experiencing it, you know?

The Palin thing just makes me shake my head. BB and his friends know people connected to that campaign and they claim that McCain got saddled with her against his wishes. He was gunning for his buddy Lieberman.

Jen said...

Got saddled with her? Isn't he supposed to be, um, you know, all presidential like and making his own damn decisions? Woo. Sorry, all excited there for a moment.

I had heard that "they" told him he couldn't have Lieberman, so he went with her to spite them. You know, like, if you think he's bad, wait til you see what I do next.

Have no idea what to think about all this. I really don't think that a crisis that was a good decade in the making should be solved in a week. But, then again, I also don't think they should be wandering away doing nothing. There should be conferences and summits and brainstorming. Then there should be winnowing of those ideas, using criteria like how can we least screw the taxpayer/401K owner/mortgage payer, and how can we unravel some of the harm done (like going through risky mortgages and seeing which are truly worth nothing and which might be doable for people with new terms), and how we can put back in place the safeguards aka regulations that kept this from happening for oh, say, 60+ years.

Then dole out money in response to these actions.

Or you know, something like that. Something that says we didn't just throw money down a big hole of no thought and no planning and no forward thinkingness. Sort of like so many things the last say, 8 years.

Bailout. Bad to have to do it, bad plan, bad to not have done it. Badbadbad.

Me said...

I was JUST telling someone that there's a drinking game in the VP debates. Talk about reality TV. Except it's, er, REAL (gulp). Let me know if you decide on a party for that.

Was glad to see the Senate grow a pair and set the bill up for a vote there at least. What a bunch of congressional schmuks.

Nice post - been wondering your viewpoint on this.