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Monday, September 15, 2008

Hooray for Economic Turmoil!

Some good economic news in the midst of the hyperventilating ("Wall Street is in crisis mode!" I hear Scott Jagow say on Marketplace even as I type) over rich guys deciding laissez-faire capitalism isn't such a great idea:
  • Oil has dropped $7 per barrel this morning "due to turmoil in the U.S. financial system."
  • Goodwill, Salvation Army, and other thrift stores are seeing sales rise 5 to 15 percent. (On the downside, donations are down, as folks hang onto their old stuff longer... hey wait! that's an upside too!)
  • Regular folks are downsizing, shedding debt, buying less, and putting more money in the bank. Gee, you mean there's more to running a household budget than signing up for more credit cards?
Think of the current economic turmoil as a good hot sauna: maybe we need to sweat some fat and toxins out of our system, run out and dive into a snowbank, and then put our clothes back on and return to a common-sense economy.


  1. People shouldn't buy things they can't afford.
    I agree! I also think they shouldn't buy things they DON'T NEED over things they NEED! Like buying Entertainment, drinks or "New" clothes for food, housing and retirement.

    Welfare creates economic problems by giving recipients a false sense of having "extra' money.

  2. Right on, cory c.! No more welfare for Bear Stearns and other Wall Street welfare kings!

  3. Them Too!!

  4. The turmoil is a reminder of the value of doing with less and of making sure that money is attached to real and not imaginary goods and isn't simply cooked up in the accounting department. Are you listening, SDBOR?

  5. Today's financial scene is a boon for the Democrats. I'm surprised that we aren't hearing more comparisons between the current administration and that of Herbert Hoover.

    Barack Obama states the problem well. When and if he is elected, let's see how he handles it! I have a feeling that the disarming smile will fall off his face, and sweat will appear thereon.

    That said, I confess that today's events have tipped my sentiments a little more toward Obama.

  6. Oh by the way, Cory, a sauna doesn't "sweat fat" out of the human body.

    I'm sure you knew that.

    I'll bet your cycling across that lake in the middle of the winter must "burn fat" to the max!

    Maybe it's more endorphins the American people need. ;-)


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