Oct 14th 16th

October 16th
Got 2007 income tax off yesterday—I get a small Fed refund and Mom does, too. Plus we’ll get the 600 dollars everyone else had in the early summer.

Gathered up clean clothes to take to the Stratford where Mom lived. They can use her clothing after all.

Last pres debate last night—I learned a few more things about both candidates’ economic plans.
Last night on NBC broadcast news, the anchor said something at the beginning of the news that brought it home to me that the recession/depression/downturn has “officially” arrived. I don’t remember how he put it—Brian Williams, that is—but it was like most economists now recognize not just a downturn in the economy, but a severe recession. Roubini is not the only one saying the most severe downturn in many year.

It just seems like it can’t be denied anymore, a bad downturn, how long and how bad is anyone’s judgement call at the moment. But we’re in for it now.
Cheers,
shamba

October 14th
From financialsense.com today:

Earlier in Spring, I responded to readers’ emails asking where I thought the bottom would come? Then… I responded that the major bottom would only come when the Dow Ind was somewhere between 7,140 and 8,568. This marks a 50% to 40% drop from the all time high of 14,280 – ditto for other indexes. Most responded at the time that I was absolutely crazy. This has been the historical norm in almost all earlier panics, depressions, and recessions. We are told how the markets eventually recover – but…it took 29 years for the markets to recover from 1929! Do you have that much time to wait in this go around? I’m Fred Cederholm and I’ve been thinking. You should be thinking, too. Contact InformationFred Cederholm Creston, IL USA