So, Jones, How Bad is It?
This economy thing, I mean. The answer is, pretty bad, I think. A
tumbling stock market is very bad for nearly everyone, because not only
does it remove several hundred billion in wealth from people's 401(k)
and IRA accounts, it takes out huge amounts of bank reserves and
available expansion capital. And it hurts confidence in the economy,
which causes people to hoard, which takes money out of circulation and
essentially makes it impossible to ameliorate the conditions above.
The government is pretty close to powerless against the market, and always has been. Further evidence of this this morning.
My
advice remains: focus on the stuff you can control, work hard, be kind
to children and strangers, call your mother and tell her you're fine.
Put some seeds in a small pot in a sunny window and keep them damp. Do
real things that have lasting value. Pray. Pray very, very hard.
Exercise. Breathe deeply. Sing.
You should do this stuff even
when things are well. When, as right now, they are decidedly not well,
you should do them even harder.
Rates are falling, if you can get a loan. We can, as of this morning, do loans under FHA down to a 540 credit score instead of last week's 580, so for some of you, now's the time to get out of that subprime deal. Call us.
tumbling stock market is very bad for nearly everyone, because not only
does it remove several hundred billion in wealth from people's 401(k)
and IRA accounts, it takes out huge amounts of bank reserves and
available expansion capital. And it hurts confidence in the economy,
which causes people to hoard, which takes money out of circulation and
essentially makes it impossible to ameliorate the conditions above.
The government is pretty close to powerless against the market, and always has been. Further evidence of this this morning.
My
advice remains: focus on the stuff you can control, work hard, be kind
to children and strangers, call your mother and tell her you're fine.
Put some seeds in a small pot in a sunny window and keep them damp. Do
real things that have lasting value. Pray. Pray very, very hard.
Exercise. Breathe deeply. Sing.
You should do this stuff even
when things are well. When, as right now, they are decidedly not well,
you should do them even harder.
Rates are falling, if you can get a loan. We can, as of this morning, do loans under FHA down to a 540 credit score instead of last week's 580, so for some of you, now's the time to get out of that subprime deal. Call us.
posted by Cj @ 12:43
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