We're headed to St Pete this weekend to hang out with Bri's dad for a bit. He wanted her to join him for a weekend of father-daughter time, but I insisted that I'm now part of the package so they let me tag along. A day without Bri is like a day without sunshine. :)
So. Onto the financial markets! I'm clearly not smart enough to figure this stuff out. You've got very smart folks on both sides of the argument saying opposite things. The distillation I get is that we go through a lot of pain now or we go through a very slow pain for the next few years. I read one proposal that said the govt should form an ETF which will buy all these 'toxic' mortgage backed securities and make the ETF available to the public to invest in. Seems like a better idea than giving a bunch of highly leveraged banks cash to balance out their spreadsheets. (Excuse me..."purchasing" "troubled" securities at book values and then selling them at market value in a few years, econ 101 right) But...we don't want the credit markets to dry up. Locally, Wake county had to withdraw plans to issue $300 million in school bonds because there were no buyers. And so on.
Save your pennies and don't quit your job, that's my motto. My other motto is live like tomorrow will never come. My other other motto is to seize the day but also save your pennies. My other other other motto is don't trust the wealthy entrenched power elite (Illuminati? The Skulls? Lizard people?) who rule our little lives. My final motto is to just be nice. Now you can blend all that together and you've got a snapshot of my viewpoint.
What I'm saying is, we're gonna skip entering the ocean swim races this weekend ($80 for the 2 of us) and just have fun.