Actually, this isn't until next week but at least our weather feels like September after being deep fried, boiled and steamed and burnt alive all of August. Our hottest August on record and because of that we have the record of days over 110 degrees this summer--31 or 32 was the final number.
I've been going along the past two months like usual. Solar cooking, cooking and feeding and herding cats, reading and hauling the last boxes out of storage that I put away last winter.
some other bigger world developments the past few months:
--Texas has been burned alived far worse than Phoenix all this past summer.
shana, Friend in Austin said that they've had almost all summer with temps over 100. They have tier 2 water rationing and the PTB asked people to set their thermostat no lower than 80 for AC.
--There is a frightening situation in Europe with the EU and Greece's huge debt problems. This has been going on for over 2 years now and they are no closer to solving this problem than they were then. As a matter of fact, the GErmans and French don't want to give Greece anymore of anything! But the French banks have a really large exosure to Greek debts so they can continue bailing out Greece, or Greece can default. All the Greek money will suddenly disappear and maybe some French and other banks may disappear because of it.
It is reminiscent of our financial mess 3 years ago when Lehman went under and everything went wonky.
Who knows if it will create a crisis as bad as the one 3 years ago or worse ... maybe they can continue the status quo a little longer.
I'm posting this info so I can look at it later after the solution to the Euro problem.
peace, Shamba
Showing posts with label financial crisis. Show all posts
Showing posts with label financial crisis. Show all posts
Wednesday, September 14, 2011
Thursday, May 6, 2010
new and some stuff to wonder about ....
News lately:
--the financial situation in Greece in still not quite finalized, I think, so many times it’s been reported as “all taken care of” I don’t know if the latest version of their bailout/stabilization is done or not. A section of the Greek public is so worked up their demonstrations turn into riots and people are being killed in these demonstrations now. Did this influence the stock market drop today ?
--US Stock markets this week have had some losses, but today they had a big spike drop of almost 1000 points. They came back up though and show a total loss in points today of 347.80 to 10,520.32; S&P had 1128.15 Some commentators think the Greek and European financial situation is going to get worse and is a picture of the kind of austerity measure we'll have to take.
what I want to know, and I don't anyone is going to tell me!, is does that mean I have until the end of 2010 to get some more things done at the house?
--Bad oil spill from BP rig in the Gulf of Mexico; spill is growing hugely and could be spread around the west coast of Florida to the Keys and then up the East Coast.
What does this do to the temperature of water in regards to hurricane formation???
Is it going to hit the gulf Coastline, so far it's just hanging out there in the Gulf and hasn't come onto shore yet?
--The 99 weeks of unemployment that have been extended by Feds over the past year or so has not been extended to more. So, those people because of the recession for the past two, almost 2 ½ years, are going to run out of their UE benefits quite soon if they haven’t already--how many people is that and will they all be on the streets?
I think they just drop off any unemployment stat sheets and will that make the emplyment rates look better?
--Much more unemployment is probably coming with the education cuts across the country and also municipal and state workers will be let go starting with the fiscal year beginning July 1. Of course, many government employees have been let go all along the last year anyway.
Local weather news, no 100 degree days yet.
shamba
--the financial situation in Greece in still not quite finalized, I think, so many times it’s been reported as “all taken care of” I don’t know if the latest version of their bailout/stabilization is done or not. A section of the Greek public is so worked up their demonstrations turn into riots and people are being killed in these demonstrations now. Did this influence the stock market drop today ?
--US Stock markets this week have had some losses, but today they had a big spike drop of almost 1000 points. They came back up though and show a total loss in points today of 347.80 to 10,520.32; S&P had 1128.15 Some commentators think the Greek and European financial situation is going to get worse and is a picture of the kind of austerity measure we'll have to take.
what I want to know, and I don't anyone is going to tell me!, is does that mean I have until the end of 2010 to get some more things done at the house?
--Bad oil spill from BP rig in the Gulf of Mexico; spill is growing hugely and could be spread around the west coast of Florida to the Keys and then up the East Coast.
What does this do to the temperature of water in regards to hurricane formation???
Is it going to hit the gulf Coastline, so far it's just hanging out there in the Gulf and hasn't come onto shore yet?
--The 99 weeks of unemployment that have been extended by Feds over the past year or so has not been extended to more. So, those people because of the recession for the past two, almost 2 ½ years, are going to run out of their UE benefits quite soon if they haven’t already--how many people is that and will they all be on the streets?
I think they just drop off any unemployment stat sheets and will that make the emplyment rates look better?
--Much more unemployment is probably coming with the education cuts across the country and also municipal and state workers will be let go starting with the fiscal year beginning July 1. Of course, many government employees have been let go all along the last year anyway.
Local weather news, no 100 degree days yet.
shamba
Friday, March 26, 2010
Catching up this week.
March 26,
We had our association HOA board meeting last night. It’s been very quiet around the place. We’ve had no major repairs to make since we replaced the damaged rafter holding up the front porch roofs. We have a substantial amount in our bank accounts! The increase in fees is helping us by us putting the increase away to take care of property insurance, which is what it was intended to do. For the foreseeable future, we’ll have a positive cash flow. We have some HOA dues delinquencies but not too many. Here hoping we don’t have any really big unexpected things come up like we did the whole new water line thing about two years ago. :0 We made major broken line repairs over and over and then finally had to redo the fresh water lines, those old pipes just wouldn’t hold together anymore.
Our units are generally worth about $50,000-55,000 these days. That’s just about the 50% decline in prices for the Phoenix area during the last two-three years. A couple of units have sold in the past two years. Our property managers said they’re beginning to see some properties move a little more than they did 6 months ago. They’re hopeful it will get better and one of our board members said we have to wait another couple of years for things to get better. He’s hopeful too, that things will increase in value. I think he’d like to get out of being a landlord himself here although he is a good landlord and good for us to have on the board.
I didn’t mention anything about the further deterioration of housing and any other market. We didn’t have time for those kinds of discussions and needed to get a lot of business done in our time allotted. One member had worked 12 days in a row and looked really kind of tired. He works for an airline, counter agent. Our property managers are good but they work regular hours and attend some board meetings during the week so they were ready to go home and forget work.
March 22,
Interesting, to say the least, point from Jim Puplava at www.financialsense.com this past Saturday, March 20, 2010. He has a weekly show that is available to listening on the website in a variety of formats. The topics and guests for each hour are listed at the website. I don’t listen to everything every week, but this past week I listened to the MP3 version of Hour 2 on the topic: “Turning Point: Change Ahead for Markets and Economy.” This part of the program was about 1 hour and 15 minutes. About 35-40 minutes into the program at the end of this Turning Point Segment Puplava says and I paraphrase I’m not direct quoting. As matter of fact I think he’s quoting a guest from the hour 1 of this date.
Everybody known a major financial crisis bigger than we’ve ever seen before is coming. What nobody knows, what nobody is smart enough to know, whether it’s 3 months, 6 months, 1 year or 2 years. Big money is preparing for this because everyone knows it is coming.
: (
Cheers,
We had our association HOA board meeting last night. It’s been very quiet around the place. We’ve had no major repairs to make since we replaced the damaged rafter holding up the front porch roofs. We have a substantial amount in our bank accounts! The increase in fees is helping us by us putting the increase away to take care of property insurance, which is what it was intended to do. For the foreseeable future, we’ll have a positive cash flow. We have some HOA dues delinquencies but not too many. Here hoping we don’t have any really big unexpected things come up like we did the whole new water line thing about two years ago. :0 We made major broken line repairs over and over and then finally had to redo the fresh water lines, those old pipes just wouldn’t hold together anymore.
Our units are generally worth about $50,000-55,000 these days. That’s just about the 50% decline in prices for the Phoenix area during the last two-three years. A couple of units have sold in the past two years. Our property managers said they’re beginning to see some properties move a little more than they did 6 months ago. They’re hopeful it will get better and one of our board members said we have to wait another couple of years for things to get better. He’s hopeful too, that things will increase in value. I think he’d like to get out of being a landlord himself here although he is a good landlord and good for us to have on the board.
I didn’t mention anything about the further deterioration of housing and any other market. We didn’t have time for those kinds of discussions and needed to get a lot of business done in our time allotted. One member had worked 12 days in a row and looked really kind of tired. He works for an airline, counter agent. Our property managers are good but they work regular hours and attend some board meetings during the week so they were ready to go home and forget work.
March 22,
Interesting, to say the least, point from Jim Puplava at www.financialsense.com this past Saturday, March 20, 2010. He has a weekly show that is available to listening on the website in a variety of formats. The topics and guests for each hour are listed at the website. I don’t listen to everything every week, but this past week I listened to the MP3 version of Hour 2 on the topic: “Turning Point: Change Ahead for Markets and Economy.” This part of the program was about 1 hour and 15 minutes. About 35-40 minutes into the program at the end of this Turning Point Segment Puplava says and I paraphrase I’m not direct quoting. As matter of fact I think he’s quoting a guest from the hour 1 of this date.
Everybody known a major financial crisis bigger than we’ve ever seen before is coming. What nobody knows, what nobody is smart enough to know, whether it’s 3 months, 6 months, 1 year or 2 years. Big money is preparing for this because everyone knows it is coming.
: (
Cheers,
Thursday, December 24, 2009
Now, It's Christmas Eve and I'm not going anywhere today. I was out to get a couple of specific things at a store but ended up in 2 shopping center parking lots and two grocery parking lots driving around looking for parking places. Dangerous these lot on the week before christmas! I picked up one thing at Safeway to make my sald for donna's house on christmas Day.
I always feel like the world takes a Time Out on Christmas Eve and Christmas Day for a couple of days of peace and safety.
Merry Christmas and S and I are off to Donna and Steve's for christmas dinner. :)
Peaxce to All, shamba
Dec 17th Notes:
Well, what a wonderful day for effective government news! NOT!
The whole health care reform bill in its present form might as well be thrown out and started over again. That’s the Feds.
The AZ state legislature had its 4th—4TH!—special session to fix the 2010 budget and nothun’ absolutely nothing happened today.
By the time they get in session in January and go to July, or longer, they will have twice as much budget deficit to fix for the 2011 budget and whatever is leftover from the 2010 budget.
My point in mentioning this at this blog is not to keep to keep track of what the feds and stat leg are doing in detail and how they’re ineffective at the moment. It’s only to provide a fell for the times we’re living in.
I feel so much cognitive dissonance, or head splitting, from looking at reality two ways. The way it has been, the way it’s going and what I see and sense coming round the bend. The past two years have brought the two sides closer and closer, perhaps this is the year they somehow connect? We’re just right at the edge of finding ourselves in worse circumstances than any of us, Americans, I mean, thought we’d ever “devolve” to in post-World war II America.
shamba.
I always feel like the world takes a Time Out on Christmas Eve and Christmas Day for a couple of days of peace and safety.
Merry Christmas and S and I are off to Donna and Steve's for christmas dinner. :)
Peaxce to All, shamba
Dec 17th Notes:
Well, what a wonderful day for effective government news! NOT!
The whole health care reform bill in its present form might as well be thrown out and started over again. That’s the Feds.
The AZ state legislature had its 4th—4TH!—special session to fix the 2010 budget and nothun’ absolutely nothing happened today.
By the time they get in session in January and go to July, or longer, they will have twice as much budget deficit to fix for the 2011 budget and whatever is leftover from the 2010 budget.
My point in mentioning this at this blog is not to keep to keep track of what the feds and stat leg are doing in detail and how they’re ineffective at the moment. It’s only to provide a fell for the times we’re living in.
I feel so much cognitive dissonance, or head splitting, from looking at reality two ways. The way it has been, the way it’s going and what I see and sense coming round the bend. The past two years have brought the two sides closer and closer, perhaps this is the year they somehow connect? We’re just right at the edge of finding ourselves in worse circumstances than any of us, Americans, I mean, thought we’d ever “devolve” to in post-World war II America.
shamba.
Friday, October 23, 2009
Heads Up, Oct. 23, 2009
Financial Economic News Below:
Here's a Big Heads Up by Karl Denninger at His Market ticker web site:
Friday, October 23. 2009
Posted by Karl Denninger in Musings at 11:55
Possible Credit Dislocation: Be Warned
http://market-ticker.denninger.net/authors/2-Karl-Denninger
I hope that's the right link to the article.
He uses some language that is very similar to the data Cliff High reports: “money lock up”
“Note that the indications above are far stronger than what we saw going into last fall before the wheels came off. As a consequence if these actions are those of people with real knowledge (and this is not a guess on their part) I would expect the outcome to be worse than what we saw last fall in terms of economic impact.”
Another vip link, I haven't read this webssite before: :
http://www.economicpolicyjournal.com/2009/10/is-fed-governor-hinting-at-stock-market.html
''Is a Fed Governor Hinting at a Stock Market Crash Just Ahead?
Sounds like it to me.
These are truly remarkable words coming from inside the Federal Reserve. Reuters has the details:
U.S. Federal Reserve Governor Kevin Warsh on Tuesday called gains in Asian and U.S. stocks noteworthy and wondered whether those increases signal a return to financial normality after a wrenching crisis or raise the prospects for asset bubbles.
Stock markets in a number of Asian economies have posted hefty gains in recent months, Warsh said while moderating a panel at an Asia economic policy conference hosted by the San Francisco Federal Reserve.
"This is a remarkable move, certainly the U.S. has also seen a remarkable increase in asset values," he said
This is as close to a warning as you are ever going to get from a Fed governor ''
Worse than last fall Denninger implies.
I wish I could just go take my money out of the CU and put it somewhere else, except that there isn't somewhere else? I'd wonder about treasuries at this point.
*sigh* shamba
Here's a Big Heads Up by Karl Denninger at His Market ticker web site:
Friday, October 23. 2009
Posted by Karl Denninger in Musings at 11:55
Possible Credit Dislocation: Be Warned
http://market-ticker.denninger.net/authors/2-Karl-Denninger
I hope that's the right link to the article.
He uses some language that is very similar to the data Cliff High reports: “money lock up”
“Note that the indications above are far stronger than what we saw going into last fall before the wheels came off. As a consequence if these actions are those of people with real knowledge (and this is not a guess on their part) I would expect the outcome to be worse than what we saw last fall in terms of economic impact.”
Another vip link, I haven't read this webssite before: :
http://www.economicpolicyjournal.com/2009/10/is-fed-governor-hinting-at-stock-market.html
''Is a Fed Governor Hinting at a Stock Market Crash Just Ahead?
Sounds like it to me.
These are truly remarkable words coming from inside the Federal Reserve. Reuters has the details:
U.S. Federal Reserve Governor Kevin Warsh on Tuesday called gains in Asian and U.S. stocks noteworthy and wondered whether those increases signal a return to financial normality after a wrenching crisis or raise the prospects for asset bubbles.
Stock markets in a number of Asian economies have posted hefty gains in recent months, Warsh said while moderating a panel at an Asia economic policy conference hosted by the San Francisco Federal Reserve.
"This is a remarkable move, certainly the U.S. has also seen a remarkable increase in asset values," he said
This is as close to a warning as you are ever going to get from a Fed governor ''
Worse than last fall Denninger implies.
I wish I could just go take my money out of the CU and put it somewhere else, except that there isn't somewhere else? I'd wonder about treasuries at this point.
*sigh* shamba
Sunday, July 19, 2009
July 12th:
July 12: Sunday:
These are my organization of thoughts on a lot of comments at blogs, etc. I read during the week.
1. permanently smaller economy; Not an V or U or W recovery but X! the X idea is from Robert Reich. as in impasse?? No way through go back? No, I know there’ll be no going back to what we had 2000-2006!
2. Permanent job losses after this down cycle. People have some money for unemployment, extensions, maybe savings maybe assets or things to sell. When they all run out? And when any work they find doesn’t pay for what they have been used to? Lose their houses, too?
3. Permanent smaller revenue for state and local govs. Every year, less and less available due to less spending due to people with no income to spend except for absolute necessities.
4. Permanent lessening of government services: education, police and security, infrastructure, social services, helpe to hospitals and various other organizations.
5. Permanent reduction in medical services available for those who depend on government for programs, elderly assistance like nursing homes available, other nonprofits don’t get any govet help and private help is dwindling: food banks, shelters, animals shelters, etc.
6. Healthservice, public and private permanent reduced. No meds available for chronic disease or various conditions, no insurance available, people sicken and die from various diseases. Emergency rooms can’t treat someone if they are so far gone with chronic conditions: diabetes, heart condition, etc. 7. Pensions and government mandated services are reduced to lack of funding. Service to
These are my organization of thoughts on a lot of comments at blogs, etc. I read during the week.
1. permanently smaller economy; Not an V or U or W recovery but X! the X idea is from Robert Reich. as in impasse?? No way through go back? No, I know there’ll be no going back to what we had 2000-2006!
2. Permanent job losses after this down cycle. People have some money for unemployment, extensions, maybe savings maybe assets or things to sell. When they all run out? And when any work they find doesn’t pay for what they have been used to? Lose their houses, too?
3. Permanent smaller revenue for state and local govs. Every year, less and less available due to less spending due to people with no income to spend except for absolute necessities.
4. Permanent lessening of government services: education, police and security, infrastructure, social services, helpe to hospitals and various other organizations.
5. Permanent reduction in medical services available for those who depend on government for programs, elderly assistance like nursing homes available, other nonprofits don’t get any govet help and private help is dwindling: food banks, shelters, animals shelters, etc.
6. Healthservice, public and private permanent reduced. No meds available for chronic disease or various conditions, no insurance available, people sicken and die from various diseases. Emergency rooms can’t treat someone if they are so far gone with chronic conditions: diabetes, heart condition, etc. 7. Pensions and government mandated services are reduced to lack of funding. Service to
Saturday, June 27, 2009
June 27 Saturday
I felt like this June is some kind of turning point in our economic future because June’s unemployment rate will tell us how we’re going, along with other indiciators. The stock markets had a rally since it’s low point in march and a lot of all kinds of people see what they think are green shoots. But green shoots of what plants? Some others are seeing green shoots turning into yellow weeds. So if they were weeds, they weren’t what we’d like to see growing anyway, I guess they mean.
And people have felt more hopeful the last couple of months, April and May, some polls say anyway. Some people I know have felt that way. Some days I even felt that way, more days, I haven’t. I’m interested in how the general perception will get more pessimistic from here . If this sounds sick, I’m sorry! I hope it doesn’t go that way, but if reality goes that way more and more general perceptions will go that way , too.
I’d like to deal with one day at a time, REALLY, one day at a time instead of having to think ahead all the times about everything! This means whatever preparedness stuff I want to achieve but mostly it’s had to do with my mom’s estate money and my own money. It’s very intimidating knowing what to do about these things normally but the atmosphere of fear and uncertainly for money these last few months has been incredible.
I haven’t put things in mattresses or strong boxes under the bed. I moved some money out of the stock market last week. I have a couple thousand left in another def comp fund I want to move.
The estate has 3 stock amounts that have some last paperwork (I hope it’s the last) to do to transfer everything and get it sold.
I’m sooo weary of dealing with money and really feeling it has to get out of the market as soon as possible. I’ve felt it every hour of every day since last October and it’s now getting better. At least the greatest amount of it is done. I can understand why people have been overwhelmed with fear and’/or inertia or denial in trying to do anything something with their money whatever form it’s in—stocks, treasuries, savings, CDS or whatever. Then there’s always the fear that wherever you put it, it will fail! Even owning gold has been a worry since gold bugs are worried about the amount of “real gold” coins or bullion is really available, really exists (!) Or are the dealers just selling paper shares that will never be back by the real thing.
Got some clouds on the horizons all around and it’s almost the 4th of July. This always cheers me up because we begin to turn towards the part of the year I like the most even if it’s two months away.
Peace to myself,
Shamba
And people have felt more hopeful the last couple of months, April and May, some polls say anyway. Some people I know have felt that way. Some days I even felt that way, more days, I haven’t. I’m interested in how the general perception will get more pessimistic from here . If this sounds sick, I’m sorry! I hope it doesn’t go that way, but if reality goes that way more and more general perceptions will go that way , too.
I’d like to deal with one day at a time, REALLY, one day at a time instead of having to think ahead all the times about everything! This means whatever preparedness stuff I want to achieve but mostly it’s had to do with my mom’s estate money and my own money. It’s very intimidating knowing what to do about these things normally but the atmosphere of fear and uncertainly for money these last few months has been incredible.
I haven’t put things in mattresses or strong boxes under the bed. I moved some money out of the stock market last week. I have a couple thousand left in another def comp fund I want to move.
The estate has 3 stock amounts that have some last paperwork (I hope it’s the last) to do to transfer everything and get it sold.
I’m sooo weary of dealing with money and really feeling it has to get out of the market as soon as possible. I’ve felt it every hour of every day since last October and it’s now getting better. At least the greatest amount of it is done. I can understand why people have been overwhelmed with fear and’/or inertia or denial in trying to do anything something with their money whatever form it’s in—stocks, treasuries, savings, CDS or whatever. Then there’s always the fear that wherever you put it, it will fail! Even owning gold has been a worry since gold bugs are worried about the amount of “real gold” coins or bullion is really available, really exists (!) Or are the dealers just selling paper shares that will never be back by the real thing.
Got some clouds on the horizons all around and it’s almost the 4th of July. This always cheers me up because we begin to turn towards the part of the year I like the most even if it’s two months away.
Peace to myself,
Shamba
Thursday, June 25, 2009
Juneth 25th, Thursday
HOORAY! Dr. B. says my right radial head is 85% healed! X-rayed r. arms and both knees for some pain in R. knee, also. Little beginnings of bone spur in r. knee (groan).
However, we discussed stretching for the quads, which are naturally tight anyway, and some anti-inflammatory crème. Also, I need to stop using my rocking chair so much for a month or so to see if that doesn’t help the pain/tightness in my knees.
I’m not supposed to “push or lean” on my right arm yet. Give that two weeks he says.
I’m going back in a month. Starting my arm exercises with 1 lb weights. I’ll see about doing some rotator cuff exercises with them. I have all the exercise plans that my PTs gave me from my two rounds of PT for arms and shoulder in the past 3 years.
Some preps over the past 2-3 weeks.
--Picked up latex gloves, and an old fashioned ice bag! I also found hot water bottles actually still exist at the local CVS (drugstore).
The latex gloves have been on my mind from time to time as I’ve cleaned up dead bird parts after the cats worked on them! Today I found a torn open pigeon carcass at the end of our building. My cats may have done it or not. But I cleaned it up and then had to go to the store anyway. So, I picked up the latex gloves while I was there.
--Got some more of the Neutrogena sunscreen I like so well.
--Got some surgical masks at a Fry’s. These are also good for when I clean up where the cat’s live on the front porch. Good for dust, leaves, dirt, cat or other dander, etc.
--Don’t need any more rechargeable batteries at the moment.
--Large Goodwill store near me has a very large and nice assortment of clothing that seems to be growing larger every time I go there. Didn’t purchase garments but I like to scope out the place every few weeks. More people are certainly using it these days.
--This store is also a good place to look for all kinds of dishes, cookware and household fabrics. The fabrics also include all kinds of fabric remnants and good sized pieces of cloth that can’t be categorized as bedding or towels etc.
--Went through clothes that need to be mended and realized I desperately want to sew something. At least I want to mend and fix the stuff that needs doing.
-- Found an older skirt that just needs it’s stretched out elastic waistband replaced. I realized how easy it would be to rip out the old one and do a new one; one of my old favorities when I was wearing skirts.
My heart is with doing sewing and fiber arts stuff. I‘d do someone’s ironing forever if they’ fix my food and clean up the kitchen afterwards! I actually like ironing. I’ve always liked the whole production process of creating stuff with fabric: laying out patterns, adjusting, pinning and cutting carefully (sometimes not cause I’m in a hurry) and the step by step process of seeing it come together.
--T. has moved to Payson and her handsome Nubs is now my 8th cat. She lived here 15 years and I will miss her. Plus we don’t have a clue who will live there now.
Other news these days: 19 state govts are on the edge of shutting down, including mine.
It just occurred to me this morning that fewer employees in state government means less money paid into the state retirement funds …. Ummm, yeah …. Maybe more canned tomatoes are in order.
Peace,
Shamba
However, we discussed stretching for the quads, which are naturally tight anyway, and some anti-inflammatory crème. Also, I need to stop using my rocking chair so much for a month or so to see if that doesn’t help the pain/tightness in my knees.
I’m not supposed to “push or lean” on my right arm yet. Give that two weeks he says.
I’m going back in a month. Starting my arm exercises with 1 lb weights. I’ll see about doing some rotator cuff exercises with them. I have all the exercise plans that my PTs gave me from my two rounds of PT for arms and shoulder in the past 3 years.
Some preps over the past 2-3 weeks.
--Picked up latex gloves, and an old fashioned ice bag! I also found hot water bottles actually still exist at the local CVS (drugstore).
The latex gloves have been on my mind from time to time as I’ve cleaned up dead bird parts after the cats worked on them! Today I found a torn open pigeon carcass at the end of our building. My cats may have done it or not. But I cleaned it up and then had to go to the store anyway. So, I picked up the latex gloves while I was there.
--Got some more of the Neutrogena sunscreen I like so well.
--Got some surgical masks at a Fry’s. These are also good for when I clean up where the cat’s live on the front porch. Good for dust, leaves, dirt, cat or other dander, etc.
--Don’t need any more rechargeable batteries at the moment.
--Large Goodwill store near me has a very large and nice assortment of clothing that seems to be growing larger every time I go there. Didn’t purchase garments but I like to scope out the place every few weeks. More people are certainly using it these days.
--This store is also a good place to look for all kinds of dishes, cookware and household fabrics. The fabrics also include all kinds of fabric remnants and good sized pieces of cloth that can’t be categorized as bedding or towels etc.
--Went through clothes that need to be mended and realized I desperately want to sew something. At least I want to mend and fix the stuff that needs doing.
-- Found an older skirt that just needs it’s stretched out elastic waistband replaced. I realized how easy it would be to rip out the old one and do a new one; one of my old favorities when I was wearing skirts.
My heart is with doing sewing and fiber arts stuff. I‘d do someone’s ironing forever if they’ fix my food and clean up the kitchen afterwards! I actually like ironing. I’ve always liked the whole production process of creating stuff with fabric: laying out patterns, adjusting, pinning and cutting carefully (sometimes not cause I’m in a hurry) and the step by step process of seeing it come together.
--T. has moved to Payson and her handsome Nubs is now my 8th cat. She lived here 15 years and I will miss her. Plus we don’t have a clue who will live there now.
Other news these days: 19 state govts are on the edge of shutting down, including mine.
It just occurred to me this morning that fewer employees in state government means less money paid into the state retirement funds …. Ummm, yeah …. Maybe more canned tomatoes are in order.
Peace,
Shamba
Wednesday, February 18, 2009
February 18th
FEB 17th:
DOW
7,552.60
-297.81
-3.79%
Nasdaq
1,470.66
-63.70
-4.15%
S&P 500
789.17
-37.67
-4.56%
February 17, 2009 - 10:21am
DJIA 5 ½-year low of 7552 set on Nov. 20; Now at 7577.
Gas A gallon: 1.99 last week now 2.05
Feb 11th
ASU is doing away with 48 academic programs, I think that means undergrad degrees but I’m not certain I can’t find a list of them yet at the ASU site. And ASU West and the Mesa Campus—site of old Williams Air force Base—nay both be closed next year! Eek! Those two campuses have been in business for years and years.
All K-12 districts are going to be hurting, too.
Feb 8th
I’m doing the big beef barley soup recipe today. I say big because it’s done in the crock pot—some kind of slow cooker—and it’ll feed me for at least several days. This would be another recipe to use in a solar oven if it fits in the oven container okay.
Picked up chicken and two packs of sirloin tips at good prices today. Sirloin tips need to be sold and used pretty quickly so they’re in the beef barley soup. They seemed to have lots of meat on some kind of specials at Bashas’ today. They also seemed to have more people than usual for a Sunday.
February 5th
My 5 or 6th attempt at bread making today; this one is the best one yet. I’ve had trouble getting it to rise high enough in the pan and come out with decent sized sandwich bread. It is a sandwich bread recipe from Joy of Cooking, called fast one loaf bread. I ‘ll know when it comes out of the oven in about 30 minutes.
When I tried to make pizza dough two weeks ago, I had accidentally killed the yeast with too hot water and the dough never rose at all. I now have a candy thermometer to measure the proper temp of the water.
DOW
7,552.60
-297.81
-3.79%
Nasdaq
1,470.66
-63.70
-4.15%
S&P 500
789.17
-37.67
-4.56%
February 17, 2009 - 10:21am
DJIA 5 ½-year low of 7552 set on Nov. 20; Now at 7577.
Gas A gallon: 1.99 last week now 2.05
Feb 11th
ASU is doing away with 48 academic programs, I think that means undergrad degrees but I’m not certain I can’t find a list of them yet at the ASU site. And ASU West and the Mesa Campus—site of old Williams Air force Base—nay both be closed next year! Eek! Those two campuses have been in business for years and years.
All K-12 districts are going to be hurting, too.
Feb 8th
I’m doing the big beef barley soup recipe today. I say big because it’s done in the crock pot—some kind of slow cooker—and it’ll feed me for at least several days. This would be another recipe to use in a solar oven if it fits in the oven container okay.
Picked up chicken and two packs of sirloin tips at good prices today. Sirloin tips need to be sold and used pretty quickly so they’re in the beef barley soup. They seemed to have lots of meat on some kind of specials at Bashas’ today. They also seemed to have more people than usual for a Sunday.
February 5th
My 5 or 6th attempt at bread making today; this one is the best one yet. I’ve had trouble getting it to rise high enough in the pan and come out with decent sized sandwich bread. It is a sandwich bread recipe from Joy of Cooking, called fast one loaf bread. I ‘ll know when it comes out of the oven in about 30 minutes.
When I tried to make pizza dough two weeks ago, I had accidentally killed the yeast with too hot water and the dough never rose at all. I now have a candy thermometer to measure the proper temp of the water.
Tuesday, November 18, 2008
November 11th to November 18th:
Nov. 18th:
Today I’m puttering around the house doing a variety of things.
Paperwork.
I’m sorting through the paperwork that has come in since last week about Mom’s estate and hers and my bills. I needed to sort into categories: Hospice, funeral home, hospital, Estate & Lawyer info, my bills, Mom’s bills, my financial stuff, things for my brother, etc. This is all now in properly sorted and labeled folders.
Paperwork gets so out of hand so quickly sometimes!
Expecting: Comcast stock forms and annuity forms to fill out and return.
Kitchen/Food
I went through kitchen stores: I need to use up some flour, get more white sugar for some seasonal baking, use up some brown sugar and the last of quinoa and pearl barley to use up in the next few weeks. They are all out where I can see them to use them up.
I added this week, dried bulk stuff: oats, red lentils, yellow split peas, some more whole wheat pasta on sale, more wheat germ, and canned sweet potatoes and pumpkin . Oh, yes, Swanson veg broth on sale again this holiday season, I keep pitcking up cans and cans since it’s so much less than usual.
I need to get: coffee.
Household Goods:
Got another small plastic bag of things for Goodwill.
Beautiful black and white D’artangnan disappeared for about 3 days but he came back and has stuck around since Saturday afternoon. I told him not to do that again without letting me see him at least every other day. I also went the place where the 3 irrigation pipes come together—they’re not used for irrigation anymore but for cat homes and transportation by neighborhood cats. I announced through the pipes that D. was to come home and tell me what happened to him—that was Friday. He came back on Saturday!
11-17
DJA at 8300; gas here 229 sometimes 2.15, oil at 54.95 Lunch out with Mildred and donna at the Bistro! I was treated.
11-13“Wall Street launched a massive rebound Thursday, sending the Dow Jones industrial average up more than 400 points after driving it below the 8,000 mark’ 8835
11-12
Oil today: 56.16.
“The Dow Jones industrial average (INDU) lost 411 points, or about 4.7%, to 8,282.66. It was the lowest close for the blue-chip average since it settled at 8,175 on Oct. 27.
Over the past three days, the Dow has fallen more than 660 points, or 7%. “
I got the Comcast issue of the estate under control for now. Have an appt with Richard about the AIG annuity on Friday. K. and I are beneficiaries and that should come directly to us; it will not be part of a probate procedure. That lessens legal costs, too.
Nov 11th
Sara and I are taking the day to fix ourselves a picnic lunch and go to the Arizona Falls, SRP takes care of it since it’s part of the canal/irrigation system. I’m taking veggies, pears and my two cameras and the binoculars I found in my mom’s dresser. Sara is bringing chicken salad, spinach salad, and we’re stopping for cookies and film camera batteries on our way out there.
From 9100 tio 8870; S&P 919; as here 2.47, oil at 62.41.
Today I’m puttering around the house doing a variety of things.
Paperwork.
I’m sorting through the paperwork that has come in since last week about Mom’s estate and hers and my bills. I needed to sort into categories: Hospice, funeral home, hospital, Estate & Lawyer info, my bills, Mom’s bills, my financial stuff, things for my brother, etc. This is all now in properly sorted and labeled folders.
Paperwork gets so out of hand so quickly sometimes!
Expecting: Comcast stock forms and annuity forms to fill out and return.
Kitchen/Food
I went through kitchen stores: I need to use up some flour, get more white sugar for some seasonal baking, use up some brown sugar and the last of quinoa and pearl barley to use up in the next few weeks. They are all out where I can see them to use them up.
I added this week, dried bulk stuff: oats, red lentils, yellow split peas, some more whole wheat pasta on sale, more wheat germ, and canned sweet potatoes and pumpkin . Oh, yes, Swanson veg broth on sale again this holiday season, I keep pitcking up cans and cans since it’s so much less than usual.
I need to get: coffee.
Household Goods:
Got another small plastic bag of things for Goodwill.
Beautiful black and white D’artangnan disappeared for about 3 days but he came back and has stuck around since Saturday afternoon. I told him not to do that again without letting me see him at least every other day. I also went the place where the 3 irrigation pipes come together—they’re not used for irrigation anymore but for cat homes and transportation by neighborhood cats. I announced through the pipes that D. was to come home and tell me what happened to him—that was Friday. He came back on Saturday!
11-17
DJA at 8300; gas here 229 sometimes 2.15, oil at 54.95 Lunch out with Mildred and donna at the Bistro! I was treated.
11-13“Wall Street launched a massive rebound Thursday, sending the Dow Jones industrial average up more than 400 points after driving it below the 8,000 mark’ 8835
11-12
Oil today: 56.16.
“The Dow Jones industrial average (INDU) lost 411 points, or about 4.7%, to 8,282.66. It was the lowest close for the blue-chip average since it settled at 8,175 on Oct. 27.
Over the past three days, the Dow has fallen more than 660 points, or 7%. “
I got the Comcast issue of the estate under control for now. Have an appt with Richard about the AIG annuity on Friday. K. and I are beneficiaries and that should come directly to us; it will not be part of a probate procedure. That lessens legal costs, too.
Nov 11th
Sara and I are taking the day to fix ourselves a picnic lunch and go to the Arizona Falls, SRP takes care of it since it’s part of the canal/irrigation system. I’m taking veggies, pears and my two cameras and the binoculars I found in my mom’s dresser. Sara is bringing chicken salad, spinach salad, and we’re stopping for cookies and film camera batteries on our way out there.
From 9100 tio 8870; S&P 919; as here 2.47, oil at 62.41.
Monday, November 10, 2008
November 10
well, let's see, pick whatever prediction you want below about the next year or so and beyond:
--this morning had some note as two of my sites about something really coming to test Obama in the first 6 months of his presidency; not just from Biden, from some foreign leaders and international intelligence chatter .... wonderful news. then again there's some feeling thatsomething might happen during the Election and Obama's inauguration.
Economic/Financial situation:
--Deflationary recession/depression;
--Inflationary probably Hyperinflationary economic contraction/recession/depression;
--Bailouts for 3 US automakers to be a "bridge loan" until the economy improves in the next year so before the end of 2009 people will be buying cars again;
--Contraction/Recession will last 12-18 months; roubini says this as well as others so does that mean it started in jan 2008 or started Fall 2008. that 6-8 months makes a difference to how people plan or think about it;
--After the severe recession--most blogs I read at least say we'll have at least 12 months of severity, more sever than anything in the post-WW2 era--there will be the oppotunity of a lifetime to buy stocks and equities;
--Or the severe recession after a year or so will morph into a depression, Depression 2.0 or Greater Depression depending on your point of view;
--Or at what would be the beginning of an upswing in the economoy, oil depletion on the downside of peak oil will be setting in and there will be NO upswing ever again for industrial society.
--If there's any kind of growth, due to the oil shortages, depletion rates and no if any new oil projects of ANY kind, it will be so very small it'll be negligible;
--After the recession will just come the Long Depression;
--Reduction to subsistence farming, rudimentary technology, real poverty everwhere in the world so that the world will be a much bigger place than it is now;
--You could also add in, madness, depression and suicide for many people facing the decline in their lives; disease possibilities ; starvation; great homelessness for many; more violence probably and just freaking out all the time.
--Public services, police, fire, emergency personnel will dwindle as local entities have no more money to spend on public services.
--then of course, there's climate change and how fast it's coming and when it will effect food supplies and what will it do to the weather in North America when there is no more ice at all at the North Pole anytime of year?????????????
--this of course doesn't cover the lack of electricty in southern Arizona where people will just go totally insane and kill each other and themselves over the crushing heat we get here ...
--I don't understand why some economists, financiers/bloggers prediction inflation and other prediction deflation ....
--If the US defaults, does that mean everything in our bank accounts dissapears like it never existed ....
--do I really need to get a new regrigerator since they might stop making them .... I could really use a new refrigerator--it almost freezes everything put into it! it's pretty old ...
Makes me wonder why I should pay my bills and keep going .. but I'm so curious to see how it all plays out! ;)
I stopped at Linen's N Things and Merwyn's today to see what stuff was available; they are both going out of business and big signs hang outside about liquidation sales. didnt' buy anything--I don't need anything but I think about putting stuff away for the future constantly and I wonder what people will do for Christmas shopping next year. I wondered that last hear at this time, too. :/
Circuit city doesn't have any signs up yet but the Phoenix stores are all being closed for good.
It's creepy to think how many other's may be going to be in the same situation even before Christmas/end of Year this year. :(
It's been 8 weeks since the mid-September stuff started and just about that long until the end of the year.
On a higher note: 70s weather is here and the cats are all doing well and so am I.
cheers,
Shamba
--this morning had some note as two of my sites about something really coming to test Obama in the first 6 months of his presidency; not just from Biden, from some foreign leaders and international intelligence chatter .... wonderful news. then again there's some feeling thatsomething might happen during the Election and Obama's inauguration.
Economic/Financial situation:
--Deflationary recession/depression;
--Inflationary probably Hyperinflationary economic contraction/recession/depression;
--Bailouts for 3 US automakers to be a "bridge loan" until the economy improves in the next year so before the end of 2009 people will be buying cars again;
--Contraction/Recession will last 12-18 months; roubini says this as well as others so does that mean it started in jan 2008 or started Fall 2008. that 6-8 months makes a difference to how people plan or think about it;
--After the severe recession--most blogs I read at least say we'll have at least 12 months of severity, more sever than anything in the post-WW2 era--there will be the oppotunity of a lifetime to buy stocks and equities;
--Or the severe recession after a year or so will morph into a depression, Depression 2.0 or Greater Depression depending on your point of view;
--Or at what would be the beginning of an upswing in the economoy, oil depletion on the downside of peak oil will be setting in and there will be NO upswing ever again for industrial society.
--If there's any kind of growth, due to the oil shortages, depletion rates and no if any new oil projects of ANY kind, it will be so very small it'll be negligible;
--After the recession will just come the Long Depression;
--Reduction to subsistence farming, rudimentary technology, real poverty everwhere in the world so that the world will be a much bigger place than it is now;
--You could also add in, madness, depression and suicide for many people facing the decline in their lives; disease possibilities ; starvation; great homelessness for many; more violence probably and just freaking out all the time.
--Public services, police, fire, emergency personnel will dwindle as local entities have no more money to spend on public services.
--then of course, there's climate change and how fast it's coming and when it will effect food supplies and what will it do to the weather in North America when there is no more ice at all at the North Pole anytime of year?????????????
--this of course doesn't cover the lack of electricty in southern Arizona where people will just go totally insane and kill each other and themselves over the crushing heat we get here ...
--I don't understand why some economists, financiers/bloggers prediction inflation and other prediction deflation ....
--If the US defaults, does that mean everything in our bank accounts dissapears like it never existed ....
--do I really need to get a new regrigerator since they might stop making them .... I could really use a new refrigerator--it almost freezes everything put into it! it's pretty old ...
Makes me wonder why I should pay my bills and keep going .. but I'm so curious to see how it all plays out! ;)
I stopped at Linen's N Things and Merwyn's today to see what stuff was available; they are both going out of business and big signs hang outside about liquidation sales. didnt' buy anything--I don't need anything but I think about putting stuff away for the future constantly and I wonder what people will do for Christmas shopping next year. I wondered that last hear at this time, too. :/
Circuit city doesn't have any signs up yet but the Phoenix stores are all being closed for good.
It's creepy to think how many other's may be going to be in the same situation even before Christmas/end of Year this year. :(
It's been 8 weeks since the mid-September stuff started and just about that long until the end of the year.
On a higher note: 70s weather is here and the cats are all doing well and so am I.
cheers,
Shamba
Tuesday, October 28, 2008
October 23rd and October 28th
October 28th
Markets seem to be holding their own past 2 days—no big swings or freak outs so far this week. Correction at 1:00 p.m.: big late-day move Tuesday, barreling higher and lifting the Dow Jones industrials more than 800 points as bargain hunters, buying in anticipation of a Federal Reserve rate cut, grabbed stocks that have been pounded lower in recent sessions. All the major indexes were up at least 9 percent.
Still pretty warm this week, in mid 90s. I moved the solar oven out onto the front porch today to cook. Used up last of white basmati rice and put in some yellow split peas. It comes out quite appealing with the white and bright yellow together. I put it with some romaine lettuce and salt and pepper today. It was fine that way.
Got reference to see a lawyer about estate procedures.
Cheers,
shamba
Oct 23rd Beautiful Fall Day in Southern Arizona
High just around 90 I think. It’s lovely outside. I could sit outside on the back patio and drink hot coffee at 2:30 p.m if I wanted! Now that’s the kind of weather I like all the time! J
Used Solar oven today but as an electrical oven. No sun at all during the day in the back for cooking and even in the front porch it’s limited after 1-2 p.m. So, I put in some rice and plugged in the oven in the back and turned the oven on it’s LOW setting. It has LOW and HIGH and you have to turn on the LOW switch before you can turn on the HIGH switch. So, far I’ve discovered the LOW is just fine for cooking the things I cooked all summer using the solar oven.
The rice cooked beautifully in the time it cooked in the strictly solar oven, about an hour. This is still so much better than me cooking rice on my inside stove, I may just keep cooking rice this way. J If I do I’ll use it for cooking everything else I’ve cooked in it. I think it might use less electricity than using the kitchen but I don’t really know that.
And it’s still warm enough during the day that I don’t want to use the kitchen if I can since the AC is switched off today. My daytime temperature for turning on the AC is 95 degrees and above. After almost 6 months of AC it’s a pleasure to have it off and come in and out without thinking about it.
Sprinkled about a cup of shredded cheese on the rice it’s last 5-10 minutes and put a pan of frozen peas next to it to warm up. This and some leftover chicken for late lunch/early supper.
Cheers,
Shamba
Markets seem to be holding their own past 2 days—no big swings or freak outs so far this week. Correction at 1:00 p.m.: big late-day move Tuesday, barreling higher and lifting the Dow Jones industrials more than 800 points as bargain hunters, buying in anticipation of a Federal Reserve rate cut, grabbed stocks that have been pounded lower in recent sessions. All the major indexes were up at least 9 percent.
Still pretty warm this week, in mid 90s. I moved the solar oven out onto the front porch today to cook. Used up last of white basmati rice and put in some yellow split peas. It comes out quite appealing with the white and bright yellow together. I put it with some romaine lettuce and salt and pepper today. It was fine that way.
Got reference to see a lawyer about estate procedures.
Cheers,
shamba
Oct 23rd Beautiful Fall Day in Southern Arizona
High just around 90 I think. It’s lovely outside. I could sit outside on the back patio and drink hot coffee at 2:30 p.m if I wanted! Now that’s the kind of weather I like all the time! J
Used Solar oven today but as an electrical oven. No sun at all during the day in the back for cooking and even in the front porch it’s limited after 1-2 p.m. So, I put in some rice and plugged in the oven in the back and turned the oven on it’s LOW setting. It has LOW and HIGH and you have to turn on the LOW switch before you can turn on the HIGH switch. So, far I’ve discovered the LOW is just fine for cooking the things I cooked all summer using the solar oven.
The rice cooked beautifully in the time it cooked in the strictly solar oven, about an hour. This is still so much better than me cooking rice on my inside stove, I may just keep cooking rice this way. J If I do I’ll use it for cooking everything else I’ve cooked in it. I think it might use less electricity than using the kitchen but I don’t really know that.
And it’s still warm enough during the day that I don’t want to use the kitchen if I can since the AC is switched off today. My daytime temperature for turning on the AC is 95 degrees and above. After almost 6 months of AC it’s a pleasure to have it off and come in and out without thinking about it.
Sprinkled about a cup of shredded cheese on the rice it’s last 5-10 minutes and put a pan of frozen peas next to it to warm up. This and some leftover chicken for late lunch/early supper.
Cheers,
Shamba
Monday, October 13, 2008
Oct 9-12, 2008
Many things happened in these days so one entry ends up for all of them as I wrote them over the 3 days.
October 12th Sunday
We had a lovely 75 degree yesterday—sudden low coming through forabout 3 days. We had a nice memorial for Mom yesterday, My cousins were able to come and many friends of mine and hers. K. and I had put up lots of pictures of her life and our childhood and old neighborhood and our various cats: Puff, Alex, Patch. Eveyone really liked looking at the pictures and just seemed to like talking to each other so that our short service started late!
The pastor did a nice job, theme was my mom’s life was peaceful and abundant and good.
It was a good day,
Nmaste, Shamba
Friday, October 10, 2008
International Trade Seizing Up Due to Banking Crisis (Updated)
I have been more than a tad concerned about near-paralysis in the money markets and imploding equity prices. But this e-mail, from a well connected international investor not prone to alarm or (normally) the use of capital letters says that the banking crisis is staring to bring international shipping to a halt.By way of background, letters of credit of various sorts are essential for trade. For instance, imagine the difficulty if you are, say, a Chinese manufacturer who wants to sell his wares to buyers overseas. How can he be sure the goods he ships will ever be paid for? Imagine the considerable difficulty and cost of chasing a deadbeat in a foreign country. Letters of credit. issued by banks, assure payment. They can also serve to finance the shipment (ie, fund the inventory while it is in transit).Not only are banks now leery of lending to each other for much longer than overnight, they are also starting to refuse to honor letters of credit from other banks. From the above-mentioned reader:
At the end of the day, if every counterparty is bad then you don't have a market and you don't have an economy. I spoke to another friend of mine this afternoon, whose father has been in the shipping business forever. Pristine credit rating, rock solid balance sheet. He says if he takes his BNP Paribas letter of credit to Citi today for short term funding for his vessels, they won't give it to him. That means he can't ship goods, which means that within the next 2 weeks, physical shortages of commodities begins to show up. THE CENTRAL BANKS CAN'T LET THAT HAPPEN OR WE HAVE NO ECONOMY, LET ALONE A CREDIT SYSTEM.
We spoke later in the evening and said he had heard of another instance of a trade transaction failing, different parties entirely, this a shipment of coal, again due to the unwillingness of the seller's bank to accept an LC from the buyer.Update 12:10 AM: Confirmation comes from the Financial Post, "Grain piles up in ports" (hat tip reader Vox Sanus):
The credit crisis is spilling over into the grain industry as international buyers find themselves unable to come up with payment, forcing sellers to shoulder often substantial losses.Before cargoes can be loaded at port, buyers typically must produce proof they are good for the money. But more deals are falling through as sellers decide they don't trust the financial institution named in the buyer's letter of credit, analysts said."There's all kinds of stuff stacked up on docks right now that can't be shipped because people can't get letters of credit," said Bill Gary, president of Commodity Information Systems in Oklahoma City. "The problem is not demand, and it's not supply because we have plenty of supply. It's finding anyone who can come up with the credit to buy."So far the problem is mostly being felt in U. S. and South American ports, but observers say it is only a matter of time before it hits Canada."We've got a nightmare in front of us and a lot of people are concerned it's going to get a lot worse," said Anthony Temple, a grain marketing expert based in Vancouver....Access to credit is key to the survival of maritime trade and insiders now say the supply is being severely restricted. More than 90% of the world's trade by volume goes by ship..."The credit crisis has made banks nervous and the last thing on their minds is making fresh loans," Omar Nokta, an analyst at investment bank Dahlman Rose, said in an interview with Reuters.While shipping has always been a cyclical industry whose fortunes rise and fall with the global economy, analysts said the current crisis over the drying up of credit is something they have never seen before.Jason Myers, head of the Canadian Manufacturers and Exporters, said exporters across Canada are getting caught up in the turmoil as customers delay payments, forcing them to shoulder the cost."What some companies are saying is we can't pay you until our customer pays us, so it becomes a question of who bears the financial risk and the cost," Mr. Myers said. "We're hearing about it more and more."What that means is that manufacturers are getting hit as revenue slows and longtime customers disappear from the order book altogether. As profits decline, investment in product development starts to fall, too, he said.The Canadian Wheat Board, one of the world's biggest grain marketers, has yet to refuse a customer because of poor credit, according to a spokeswoman. "As of this moment we haven't run into that problem," said Maureen Fitzhenry,
October 10th, Friday
Headlines from finance.yahoo.com in the morning:
Dow Plunges 350 Pts Over Credit Concerns in Roller Coaster Session
Later 450 points to 8100 or so … Oil is at 70$ or so.
October 9th
October 8th of last year, the Dow peaked intraday at 14,134.
Today 8666.24 Fall of 591.86 … :0 :O S&P 916.68
Or from cryptygon.com
“Dow Jones Suffers Biggest Percentage Decline in 20 Years
October 10th, 2008
The Dow Jones index fell 678.9 to 8579.2, its biggest percentage drop since Black Monday in October 1987 and its third biggest points decline in history.
In a staggering final hour of trading, the Dow fell more than 400 points after Standard & Poor’s downgraded car maker General Motors and investors were forced to sell off shares to meet margin calls.
The S&P 500 fell 75.0 to 909.9 while the Nasdaq closed down 95.2 at 1645.1, its lowest level since August 2003.
Trading volumes soared, sending volatility near to all time highs, as the Dow closed down 7.3pc. That came exactly a year after the index hit an all-time high on October 9, 2007….
October 9th
October 8th of last year, the Dow peaked intraday at 14,134.
Today 8666.24 … :0 :O S&P 916.68
October 12th Sunday
We had a lovely 75 degree yesterday—sudden low coming through forabout 3 days. We had a nice memorial for Mom yesterday, My cousins were able to come and many friends of mine and hers. K. and I had put up lots of pictures of her life and our childhood and old neighborhood and our various cats: Puff, Alex, Patch. Eveyone really liked looking at the pictures and just seemed to like talking to each other so that our short service started late!
The pastor did a nice job, theme was my mom’s life was peaceful and abundant and good.
It was a good day,
Nmaste, Shamba
Friday, October 10, 2008
International Trade Seizing Up Due to Banking Crisis (Updated)
I have been more than a tad concerned about near-paralysis in the money markets and imploding equity prices. But this e-mail, from a well connected international investor not prone to alarm or (normally) the use of capital letters says that the banking crisis is staring to bring international shipping to a halt.By way of background, letters of credit of various sorts are essential for trade. For instance, imagine the difficulty if you are, say, a Chinese manufacturer who wants to sell his wares to buyers overseas. How can he be sure the goods he ships will ever be paid for? Imagine the considerable difficulty and cost of chasing a deadbeat in a foreign country. Letters of credit. issued by banks, assure payment. They can also serve to finance the shipment (ie, fund the inventory while it is in transit).Not only are banks now leery of lending to each other for much longer than overnight, they are also starting to refuse to honor letters of credit from other banks. From the above-mentioned reader:
At the end of the day, if every counterparty is bad then you don't have a market and you don't have an economy. I spoke to another friend of mine this afternoon, whose father has been in the shipping business forever. Pristine credit rating, rock solid balance sheet. He says if he takes his BNP Paribas letter of credit to Citi today for short term funding for his vessels, they won't give it to him. That means he can't ship goods, which means that within the next 2 weeks, physical shortages of commodities begins to show up. THE CENTRAL BANKS CAN'T LET THAT HAPPEN OR WE HAVE NO ECONOMY, LET ALONE A CREDIT SYSTEM.
We spoke later in the evening and said he had heard of another instance of a trade transaction failing, different parties entirely, this a shipment of coal, again due to the unwillingness of the seller's bank to accept an LC from the buyer.Update 12:10 AM: Confirmation comes from the Financial Post, "Grain piles up in ports" (hat tip reader Vox Sanus):
The credit crisis is spilling over into the grain industry as international buyers find themselves unable to come up with payment, forcing sellers to shoulder often substantial losses.Before cargoes can be loaded at port, buyers typically must produce proof they are good for the money. But more deals are falling through as sellers decide they don't trust the financial institution named in the buyer's letter of credit, analysts said."There's all kinds of stuff stacked up on docks right now that can't be shipped because people can't get letters of credit," said Bill Gary, president of Commodity Information Systems in Oklahoma City. "The problem is not demand, and it's not supply because we have plenty of supply. It's finding anyone who can come up with the credit to buy."So far the problem is mostly being felt in U. S. and South American ports, but observers say it is only a matter of time before it hits Canada."We've got a nightmare in front of us and a lot of people are concerned it's going to get a lot worse," said Anthony Temple, a grain marketing expert based in Vancouver....Access to credit is key to the survival of maritime trade and insiders now say the supply is being severely restricted. More than 90% of the world's trade by volume goes by ship..."The credit crisis has made banks nervous and the last thing on their minds is making fresh loans," Omar Nokta, an analyst at investment bank Dahlman Rose, said in an interview with Reuters.While shipping has always been a cyclical industry whose fortunes rise and fall with the global economy, analysts said the current crisis over the drying up of credit is something they have never seen before.Jason Myers, head of the Canadian Manufacturers and Exporters, said exporters across Canada are getting caught up in the turmoil as customers delay payments, forcing them to shoulder the cost."What some companies are saying is we can't pay you until our customer pays us, so it becomes a question of who bears the financial risk and the cost," Mr. Myers said. "We're hearing about it more and more."What that means is that manufacturers are getting hit as revenue slows and longtime customers disappear from the order book altogether. As profits decline, investment in product development starts to fall, too, he said.The Canadian Wheat Board, one of the world's biggest grain marketers, has yet to refuse a customer because of poor credit, according to a spokeswoman. "As of this moment we haven't run into that problem," said Maureen Fitzhenry,
October 10th, Friday
Headlines from finance.yahoo.com in the morning:
Dow Plunges 350 Pts Over Credit Concerns in Roller Coaster Session
Later 450 points to 8100 or so … Oil is at 70$ or so.
October 9th
October 8th of last year, the Dow peaked intraday at 14,134.
Today 8666.24 Fall of 591.86 … :0 :O S&P 916.68
Or from cryptygon.com
“Dow Jones Suffers Biggest Percentage Decline in 20 Years
October 10th, 2008
The Dow Jones index fell 678.9 to 8579.2, its biggest percentage drop since Black Monday in October 1987 and its third biggest points decline in history.
In a staggering final hour of trading, the Dow fell more than 400 points after Standard & Poor’s downgraded car maker General Motors and investors were forced to sell off shares to meet margin calls.
The S&P 500 fell 75.0 to 909.9 while the Nasdaq closed down 95.2 at 1645.1, its lowest level since August 2003.
Trading volumes soared, sending volatility near to all time highs, as the Dow closed down 7.3pc. That came exactly a year after the index hit an all-time high on October 9, 2007….
October 9th
October 8th of last year, the Dow peaked intraday at 14,134.
Today 8666.24 … :0 :O S&P 916.68
Wednesday, October 8, 2008
Oct 6-8th
Oct 6th Monday: DJA down 400 points then 500 point, below 10,000 –
update later: 550 … 600 … it’s 11:11 a.m my time and 2:11 EDT. At 11:35 a.m, 749 points!! I’ve been watching the bolded red headlines at Yahoo finance instead of reading the much smaller print that shows all the fluctuations in the market. So less than two more hours to go till close of business today … I laughed when I saw the 600 pt drop … too much tension in my life with my Mom’s death and this stuff going on ??? Probably, also I feel like I did my job for my Mom and I’ve done not too badly in being prepared for this stock market/economic/societal change stuff coming on for the past 2 years and now is more than mainstream. I think the laughter is like I can cry, wail and/or I can laugh. I do now wish I acted on my IRAs and deferred comp earlier … oh, well I prepared for what I could prompted by my own intuition.
12:21 p.m. my time. 800 points …. 40 some minutes to go till markets close today … and tomorrow …. Or not tomorrow …. 800 is more than the 770 something last week which was the biggest one day drop in years … In June the market did go down about 1000 but it wasn’t all on one day … DJA ended up today by being down on 300 something instead of 800 something.
The time for Ure’s (www.urbansurvival.com) event is Oct 7th 7:10 am UTC—London Time that‘s like middle of the night for MST which we are on. I think it’s about 12:30 a.m.
Many other sources besides George Ure’s site have been seeing something like this coming, too, and that includes financial astrologers (!) and technical stock analysts, and all across the spectrum of left to right in my readings.
October 7th:
Quote from finance.yahoo.com in big type headlines with a red border around it:
“Stocks Sink Again as Investors Look for Fed Rate Cut; Dow Plunges Over 500 as S&P 500 Hits 5-Year Low- AP “
“The misery worsened on Wall Street Tuesday, with stocks piling on losses late in the session and bringing the two-day decline in the Dow Jones industrials to more than 875 points amid escalating worries about credit markets and the financial sector. The Dow lost more than 500 points and all the major indexes slid more than 5 percent. The Standard & Poor's 500 index saw its first close below 1,000 in five years.”
DJA closed at 9447. If this keeps on it’ll be 8000 by the end of the week. :O
Went out today to get flowers for Saturday and went through spam filled email boxes.
So, anything else going to happen this week?
OCTOBER 8th
It continues …. 9200? Something this morning ….
Interest rate cuts went down all over the world …. President is callingfor a G7 or 8? Emergency financial meeting this weekend … No official signs of bank holidays yet but they are still a possibility, I’m sure.
More later .... this is beginning to really upset people out in the public ...
update later: 550 … 600 … it’s 11:11 a.m my time and 2:11 EDT. At 11:35 a.m, 749 points!! I’ve been watching the bolded red headlines at Yahoo finance instead of reading the much smaller print that shows all the fluctuations in the market. So less than two more hours to go till close of business today … I laughed when I saw the 600 pt drop … too much tension in my life with my Mom’s death and this stuff going on ??? Probably, also I feel like I did my job for my Mom and I’ve done not too badly in being prepared for this stock market/economic/societal change stuff coming on for the past 2 years and now is more than mainstream. I think the laughter is like I can cry, wail and/or I can laugh. I do now wish I acted on my IRAs and deferred comp earlier … oh, well I prepared for what I could prompted by my own intuition.
12:21 p.m. my time. 800 points …. 40 some minutes to go till markets close today … and tomorrow …. Or not tomorrow …. 800 is more than the 770 something last week which was the biggest one day drop in years … In June the market did go down about 1000 but it wasn’t all on one day … DJA ended up today by being down on 300 something instead of 800 something.
The time for Ure’s (www.urbansurvival.com) event is Oct 7th 7:10 am UTC—London Time that‘s like middle of the night for MST which we are on. I think it’s about 12:30 a.m.
Many other sources besides George Ure’s site have been seeing something like this coming, too, and that includes financial astrologers (!) and technical stock analysts, and all across the spectrum of left to right in my readings.
October 7th:
Quote from finance.yahoo.com in big type headlines with a red border around it:
“Stocks Sink Again as Investors Look for Fed Rate Cut; Dow Plunges Over 500 as S&P 500 Hits 5-Year Low- AP “
“The misery worsened on Wall Street Tuesday, with stocks piling on losses late in the session and bringing the two-day decline in the Dow Jones industrials to more than 875 points amid escalating worries about credit markets and the financial sector. The Dow lost more than 500 points and all the major indexes slid more than 5 percent. The Standard & Poor's 500 index saw its first close below 1,000 in five years.”
DJA closed at 9447. If this keeps on it’ll be 8000 by the end of the week. :O
Went out today to get flowers for Saturday and went through spam filled email boxes.
So, anything else going to happen this week?
OCTOBER 8th
It continues …. 9200? Something this morning ….
Interest rate cuts went down all over the world …. President is callingfor a G7 or 8? Emergency financial meeting this weekend … No official signs of bank holidays yet but they are still a possibility, I’m sure.
More later .... this is beginning to really upset people out in the public ...
Saturday, October 4, 2008
October 1-4, 2008
My mother took her last breath about an hour after I left her yesterday afternoon. The time was 4:20 p.m. I had to go back as they called me right after I got home from seeing her. She went peacefully and more quickly than I thought she would. She died the last day of the month of September 2008.
To make a long story short, M. and I will be planning a service for Saturday next weekend. My brother can come for 3 days.
I’m doing okay but seem to be very tired from all the tension of her illness, and all the other news out there!
Bailout/rescue bill passed the Senate first on Wednesday and House on Friday. It was packed with all kinds of stuff before the voting. We’ll see what this or doesn’t do for confidence in the markets. Public citizens were enraged by the bills but businesses and banks were for it as a confidence booster. I can see both points of view and I didn’t express an opinion. R. our broker really wanted it to pass. He ‘s sounds truly worried about how long this coming recession/downturn will last—he was afraid it would be longer than 2-3 years. Scary because of him feeling this way going along with all the predictions the last 2-3 years about this possibilities. Because the bill WON'T STOP THE DOWNTURN COMING but it will slow it down or make it not so bad.
Namaste and Om Shanti,
Shamba/sheri
To make a long story short, M. and I will be planning a service for Saturday next weekend. My brother can come for 3 days.
I’m doing okay but seem to be very tired from all the tension of her illness, and all the other news out there!
Bailout/rescue bill passed the Senate first on Wednesday and House on Friday. It was packed with all kinds of stuff before the voting. We’ll see what this or doesn’t do for confidence in the markets. Public citizens were enraged by the bills but businesses and banks were for it as a confidence booster. I can see both points of view and I didn’t express an opinion. R. our broker really wanted it to pass. He ‘s sounds truly worried about how long this coming recession/downturn will last—he was afraid it would be longer than 2-3 years. Scary because of him feeling this way going along with all the predictions the last 2-3 years about this possibilities. Because the bill WON'T STOP THE DOWNTURN COMING but it will slow it down or make it not so bad.
Namaste and Om Shanti,
Shamba/sheri
Tuesday, September 30, 2008
September 29-30th
Sept 30
Mom was very peaceful today; she also is quite unresponsive. Sghe talked a little last night to me but it was very hard to hear her much less understand her. I knew what she was saying:”I don’t know what I’m doing” or What can I do?
I told her she was doing exactly what she was supposed to and that she had done very well with her life. I told her that today as well. She was still somewhat agitated and restless yesterday and last night. She didn’t want too much next to her skin, sheet or robe or nightgown. Today she is much quieter with the white cat tucked under her hand.
--DJones actually came up today and was not as volatile as yesterday anyway.
--I went to get gas at the cheaper station at Bethany Home Rd and it was all out of all kinds of gas. They only had regular on Saturday; premium was all out and the guy said he expected a shipment but he hadn’t had one for the previous day either he was supposed to get. Station closest to home had enough of all kinds for a few cents more still it was 3.35.
--Got legal docs of Mom’s out to check on something. I’ve got everything I’ll need now.
--Made a big pot of veg soup this morning to keep busy.
shamba
September 29 Monday
Mom, Eleanor, is in Hospice of the Valley unit at Phoenix Baptist Hospital. She hasn’t eaten anything except a bite or two of chocolate pudding since Saturday noon meal. She just keeps saying she doesn’t know who she is and/or what I am supposed to do? She can be very agitated and distressed about these two issues.
Saturday she wanted me and the nurse to kill her, then that she was dying and was afraid and then a few times that she just wanted to stop and why can’t I just die. I told her is okay to die, and okay to be afraid and I was afraid too. I also always told her she was doing just fine and exactly what she was supposed to be doing.
I’ve been there every day with her for a few hours; but I am so worn out today I want to shut out the WHOLE F******* WORLD for a few hours. This also has to do with the finance news today—see below for that.
K. has to move from David’s to a half-way house; not more punishment/restriction but because of David’s connection with the Children’s Pool issue.
More news this interesting day (!):
--Yahoo finance headline at 12:00 noon MST:
Dow Plunges 700 as House Defeats Bailout Plan; Selling Intensifies- AP
--DJ down to 10,500; lots of acrimony about this not passing house between representatives. Most of the congressmen and women have been getting that most Americans don’t want this so they have every right to ask their representatives to do what they want. I don’t blame them but we will also get much worse sooner without the bailout.
And there will be freefall in the market until something is tried or we’ve hit the bottom.
--Congress isn’t supposed to get together again until Thursday! And tomorrow is Rosh Hashanah. So, that’s a holiday for them, too.
Got supplies last week from Sprouts of bulk items; I just keep buying food stuff! I want to get some more charcoal briquettes. I haven’t done any cooking since last Tuesday when Mom went to the hospital.
As for the October 7th date predicted by urbansurvival.com, a bank holiday?? I got a lot of extra cash from the CU last Friday and also made a large payment on what’s left on the credit card.
So much, can’t write it all down!
shamba
Mom was very peaceful today; she also is quite unresponsive. Sghe talked a little last night to me but it was very hard to hear her much less understand her. I knew what she was saying:”I don’t know what I’m doing” or What can I do?
I told her she was doing exactly what she was supposed to and that she had done very well with her life. I told her that today as well. She was still somewhat agitated and restless yesterday and last night. She didn’t want too much next to her skin, sheet or robe or nightgown. Today she is much quieter with the white cat tucked under her hand.
--DJones actually came up today and was not as volatile as yesterday anyway.
--I went to get gas at the cheaper station at Bethany Home Rd and it was all out of all kinds of gas. They only had regular on Saturday; premium was all out and the guy said he expected a shipment but he hadn’t had one for the previous day either he was supposed to get. Station closest to home had enough of all kinds for a few cents more still it was 3.35.
--Got legal docs of Mom’s out to check on something. I’ve got everything I’ll need now.
--Made a big pot of veg soup this morning to keep busy.
shamba
September 29 Monday
Mom, Eleanor, is in Hospice of the Valley unit at Phoenix Baptist Hospital. She hasn’t eaten anything except a bite or two of chocolate pudding since Saturday noon meal. She just keeps saying she doesn’t know who she is and/or what I am supposed to do? She can be very agitated and distressed about these two issues.
Saturday she wanted me and the nurse to kill her, then that she was dying and was afraid and then a few times that she just wanted to stop and why can’t I just die. I told her is okay to die, and okay to be afraid and I was afraid too. I also always told her she was doing just fine and exactly what she was supposed to be doing.
I’ve been there every day with her for a few hours; but I am so worn out today I want to shut out the WHOLE F******* WORLD for a few hours. This also has to do with the finance news today—see below for that.
K. has to move from David’s to a half-way house; not more punishment/restriction but because of David’s connection with the Children’s Pool issue.
More news this interesting day (!):
--Yahoo finance headline at 12:00 noon MST:
Dow Plunges 700 as House Defeats Bailout Plan; Selling Intensifies- AP
--DJ down to 10,500; lots of acrimony about this not passing house between representatives. Most of the congressmen and women have been getting that most Americans don’t want this so they have every right to ask their representatives to do what they want. I don’t blame them but we will also get much worse sooner without the bailout.
And there will be freefall in the market until something is tried or we’ve hit the bottom.
--Congress isn’t supposed to get together again until Thursday! And tomorrow is Rosh Hashanah. So, that’s a holiday for them, too.
Got supplies last week from Sprouts of bulk items; I just keep buying food stuff! I want to get some more charcoal briquettes. I haven’t done any cooking since last Tuesday when Mom went to the hospital.
As for the October 7th date predicted by urbansurvival.com, a bank holiday?? I got a lot of extra cash from the CU last Friday and also made a large payment on what’s left on the credit card.
So much, can’t write it all down!
shamba
Thursday, September 25, 2008
Sept 24-25
There is much news on the financial and economic and negotiating of the bailout but I can’t recount it all because Tuesday afternoon, Mom suddenly had trouble breathing, and the paramedics took her to Phoenix Baptist hospital. I went to the ER and met her there, someone from the Stratford was there with her, thank heavens. They are good people there.
She’s been there for a couple of days, heart tests, lung tests. Maybe the beginnings of congestive heart failure. She knows me but even talking to e she talks sometimes very incoherently. That’s news for her but it could just be the environment of a strange place.
I will say that the nurses/drs/everyone has been very nice there and it seems she’s getting appropriate care as far as I can judge those things. I met the cardiologist and coordinating physician of hers this morning. One had called me yesterday but I wasn’t home I was talking to Dr. Riess and filling him in on what had happened. I feel much better after talking to them today.
Cardiologist said heart and valves look okay. the right side of the heart isn't pumping as well as it should; it pumps to the lungs. A pacemaker is not necessary even with a slightly irregular heartbeat. She's got several new medications that are helping her, heart stuff; no I'm not sure what all they are. she hadn't seen the pulomonologist yet so we don't know what's happening with her lungs.
She also ate well at breakfast and not too much at lunch. She was dozing off when I left.
PS.Congress and bailout supporters still negotiating.
Cheers,
shamba
She’s been there for a couple of days, heart tests, lung tests. Maybe the beginnings of congestive heart failure. She knows me but even talking to e she talks sometimes very incoherently. That’s news for her but it could just be the environment of a strange place.
I will say that the nurses/drs/everyone has been very nice there and it seems she’s getting appropriate care as far as I can judge those things. I met the cardiologist and coordinating physician of hers this morning. One had called me yesterday but I wasn’t home I was talking to Dr. Riess and filling him in on what had happened. I feel much better after talking to them today.
Cardiologist said heart and valves look okay. the right side of the heart isn't pumping as well as it should; it pumps to the lungs. A pacemaker is not necessary even with a slightly irregular heartbeat. She's got several new medications that are helping her, heart stuff; no I'm not sure what all they are. she hadn't seen the pulomonologist yet so we don't know what's happening with her lungs.
She also ate well at breakfast and not too much at lunch. She was dozing off when I left.
PS.Congress and bailout supporters still negotiating.
Cheers,
shamba
Monday, September 22, 2008
Sept18-22
Sept 22. Monday, continuing discussion of the "bailout" plan. If this doesn't happen in the next couple of weeks, like by middle of next week or end of next week, the economic/stock market reactions are going to be going down the tubes. This is the very thing the bailout is supposed to help put off because it won't stop it it will just buy some time, or postpone the great downturn for a while. I imagine a while is something like a few weeks to 2-4 months. that's just my own impression from what I am reading these days. Actually, I've been reading this stuff for at least a yhear and more like 2 years.
Oh yes, much was made of a barrel of oil going up $ the most in one day trading in years." It did, it went up about $20.00 from closing on Friday at 104.55, today it closed at 120.92. Our gas is still lowers than before Ike; and has gone from 3.59 the day before ike to 3.47 or 3.45.
Income tax into Michael today.. At least we'll get our $600 apiece, mom and i, unless the government runs out of money before then! It's scary and yet fascinating at the same time.
September 21, Sunday
I finished my part of the 2007 income tax; just have to do all the adding of figures for Mom now. This always turns out to not be as bad as I think it will so why do I procrastinate with it?????
Text of Bailout has be printed and available for public, at least on the internet: they’re adding things to it like, foreign banks can be part of the bailout (WHAT THE F???? IS THAT ABOUT; that’s horrifying even to me and I don’t know enough about this stuff. I have to call Richard tomorrow anyway about money for Mom’s October bill.) Goodness, if my Mom knew what was happening she’d be freaking out; my dad would spin in his grave, or laugh, I’m not sure which. He doesn’t have a grave actually; his ashes are in a quietly wrapped plastic container in my house.
Also, this asks that the Sec of the Treasury be given any amount he wants anytime he wants, and the courts can look at this after it’s passed. Dictatorial powers to the executive branch through the Sec of Treasury? I read this somewhere I didn’t deduce it by myself…
They tinfoil hats are even more right than I thought they were! The “plot’ to take over the government of the US continues! Actually, I don’t believe in complicated conspiracies; I think its circumstances, sometimes swiftly moving unexpected circumstances that give rise to what the powers that be decide to do at that time.
September 18-19:
More stuff has hit the fan or it’s just splattering everywhere!
AIG bailed out by government; or rather, now owns 80 percent of AIG. AND the government now is going to form an entity that will buy up all the “bad debts” from the banks like the Resolution Trust did for the S&L problems about 15-20 years ago.
Paulson and Bernanke had a session on Thursday night with congressional biggies and they all agreed on the buying out bad debts. Also, the SEC said no shorts on about 800 stocks for 10 days. That’ll bring us up to the first full week in October when that expires unless it’s extended.
I talked to Richard on Wednesday after the AIG rescue but I haven’t talked to him since then so I don’t know what he thinks of latest development. He did say we’re going to 9000 probably—CJ rallied on Friday to 11, 400. Oil has come up to 104 or something; our gas has gone down 4 cents to 3.47. That surprised me.
Loaded up on cat food this weekend but I needed to anyway. Still buying at Safeway with my extra 10% off card.
shamba
Oh yes, much was made of a barrel of oil going up $ the most in one day trading in years." It did, it went up about $20.00 from closing on Friday at 104.55, today it closed at 120.92. Our gas is still lowers than before Ike; and has gone from 3.59 the day before ike to 3.47 or 3.45.
Income tax into Michael today.. At least we'll get our $600 apiece, mom and i, unless the government runs out of money before then! It's scary and yet fascinating at the same time.
September 21, Sunday
I finished my part of the 2007 income tax; just have to do all the adding of figures for Mom now. This always turns out to not be as bad as I think it will so why do I procrastinate with it?????
Text of Bailout has be printed and available for public, at least on the internet: they’re adding things to it like, foreign banks can be part of the bailout (WHAT THE F???? IS THAT ABOUT; that’s horrifying even to me and I don’t know enough about this stuff. I have to call Richard tomorrow anyway about money for Mom’s October bill.) Goodness, if my Mom knew what was happening she’d be freaking out; my dad would spin in his grave, or laugh, I’m not sure which. He doesn’t have a grave actually; his ashes are in a quietly wrapped plastic container in my house.
Also, this asks that the Sec of the Treasury be given any amount he wants anytime he wants, and the courts can look at this after it’s passed. Dictatorial powers to the executive branch through the Sec of Treasury? I read this somewhere I didn’t deduce it by myself…
They tinfoil hats are even more right than I thought they were! The “plot’ to take over the government of the US continues! Actually, I don’t believe in complicated conspiracies; I think its circumstances, sometimes swiftly moving unexpected circumstances that give rise to what the powers that be decide to do at that time.
September 18-19:
More stuff has hit the fan or it’s just splattering everywhere!
AIG bailed out by government; or rather, now owns 80 percent of AIG. AND the government now is going to form an entity that will buy up all the “bad debts” from the banks like the Resolution Trust did for the S&L problems about 15-20 years ago.
Paulson and Bernanke had a session on Thursday night with congressional biggies and they all agreed on the buying out bad debts. Also, the SEC said no shorts on about 800 stocks for 10 days. That’ll bring us up to the first full week in October when that expires unless it’s extended.
I talked to Richard on Wednesday after the AIG rescue but I haven’t talked to him since then so I don’t know what he thinks of latest development. He did say we’re going to 9000 probably—CJ rallied on Friday to 11, 400. Oil has come up to 104 or something; our gas has gone down 4 cents to 3.47. That surprised me.
Loaded up on cat food this weekend but I needed to anyway. Still buying at Safeway with my extra 10% off card.
shamba
Wednesday, September 17, 2008
September 15, 16, 17 Boom, Boom, boom, ..... doom, doom, doom ...
September 15th
500 drop on DJA; Lehman Bros. has gone belly up. AIG, WAMU Morgan Stanley are not in good shape. AIG should be the next to go. I’ts a huge insurance company that has my mom retirement annuity—sigh, I don’t know what that means. I’m afraid to find out! Oh, yeah, Merrill Lynch has sold itself to Bank of America.
This was given big headlines around the world, but had developed over the weekend as talks were to save Lehman and so it’s really no surprise to those who have been watching this situation over the past several months.
Roubini thinks our 18 months recession will be over mid-2009. Meredith Whitney now thinks housing values will fall over 45% from 2005 to whenever it stops falling. She’s said 30 % before, I think.
Automatic Earth still says 60-80% and more on the 80% side these days.
I have paid absolutely No attention to the campaigns since I watched the conventions. I’m not sure why, the hurricanes and economic stuff is more fascinating I think. Also, a lot of the talk on the campaigns has been about Plain and her lipstick and whether or not Osama and McCain are insulting each other. Sheesh!
September 16-17
A lot of Sh*t seems to have hit the fan since this weekend; AIG almost was ready to bankrupt but the government has stepped in to stop it. This is GOOD for us—Mom and me—as she receives an annuity from them! If they’d gone bankrupt, we would have lost the money—so it has become VERY personal at this time. I rthought that was the way it would be but I wanted to ask him that and some other questions. DJA is way down, 10,700.
Talked to Richard, mom’s broker, he expects housing won’t recover for at least two years probably longer; the stockmarket will probably or could go down to about 9000, He is more sure that it will go down to that than not. He said we’re in for a rough ride and is confirming everything I expected. He moved a fund of my mom’s money into the money market, that means it’s in cash right now. He’s been a busy man the past couple of days! I’ll bet!
News from friends about others they know losing in this market:
--Linda’s music friends include a lot of real estate people on the east Coast, Northern Virginia and Fredericksburg, VA. One custom home builder has gone under in the past year, all their personal money was used to try to save it but they lost it all. I don’t know if that means they lost their own home or not.
--A respected yoga teacher of many years came to our studio to do a workshop this past weekend. I couldn’t go but my friend Barb said that she has lost a lot or weight and her beautiful head of hair is much thinner. Her husband and she have both been ill the past two years, they are not young, and lost their several investment properties they had near where they live in Sedona. I was very sad to hear about her and her husband. She’s travelling and teaching again because she needs the money. She’s a wonderful teacher and I hope to see her again.
--D. in Tennessee said her husband has lost his job and they don’t know if they’ll have to move again or not.
--I’m waiting to hear about the enrollment in our health plan in the next month or so. How much will it increase?? :/
-- And oil was at 92 dollars or something wacko like that with the situation in the Gulf. ??
shamba
500 drop on DJA; Lehman Bros. has gone belly up. AIG, WAMU Morgan Stanley are not in good shape. AIG should be the next to go. I’ts a huge insurance company that has my mom retirement annuity—sigh, I don’t know what that means. I’m afraid to find out! Oh, yeah, Merrill Lynch has sold itself to Bank of America.
This was given big headlines around the world, but had developed over the weekend as talks were to save Lehman and so it’s really no surprise to those who have been watching this situation over the past several months.
Roubini thinks our 18 months recession will be over mid-2009. Meredith Whitney now thinks housing values will fall over 45% from 2005 to whenever it stops falling. She’s said 30 % before, I think.
Automatic Earth still says 60-80% and more on the 80% side these days.
I have paid absolutely No attention to the campaigns since I watched the conventions. I’m not sure why, the hurricanes and economic stuff is more fascinating I think. Also, a lot of the talk on the campaigns has been about Plain and her lipstick and whether or not Osama and McCain are insulting each other. Sheesh!
September 16-17
A lot of Sh*t seems to have hit the fan since this weekend; AIG almost was ready to bankrupt but the government has stepped in to stop it. This is GOOD for us—Mom and me—as she receives an annuity from them! If they’d gone bankrupt, we would have lost the money—so it has become VERY personal at this time. I rthought that was the way it would be but I wanted to ask him that and some other questions. DJA is way down, 10,700.
Talked to Richard, mom’s broker, he expects housing won’t recover for at least two years probably longer; the stockmarket will probably or could go down to about 9000, He is more sure that it will go down to that than not. He said we’re in for a rough ride and is confirming everything I expected. He moved a fund of my mom’s money into the money market, that means it’s in cash right now. He’s been a busy man the past couple of days! I’ll bet!
News from friends about others they know losing in this market:
--Linda’s music friends include a lot of real estate people on the east Coast, Northern Virginia and Fredericksburg, VA. One custom home builder has gone under in the past year, all their personal money was used to try to save it but they lost it all. I don’t know if that means they lost their own home or not.
--A respected yoga teacher of many years came to our studio to do a workshop this past weekend. I couldn’t go but my friend Barb said that she has lost a lot or weight and her beautiful head of hair is much thinner. Her husband and she have both been ill the past two years, they are not young, and lost their several investment properties they had near where they live in Sedona. I was very sad to hear about her and her husband. She’s travelling and teaching again because she needs the money. She’s a wonderful teacher and I hope to see her again.
--D. in Tennessee said her husband has lost his job and they don’t know if they’ll have to move again or not.
--I’m waiting to hear about the enrollment in our health plan in the next month or so. How much will it increase?? :/
-- And oil was at 92 dollars or something wacko like that with the situation in the Gulf. ??
shamba
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