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Posts Tagged ‘Dow Jones’

         Ok, I dont understand this whole financial mess…I admit that.  I am no financial genius.  However, I do know that if you keep spending money that you dont have…you go deeper in debt.  How in the heck is the government going to get money from people who dont have it to give?  From taxpayers….correction…from taxpayers who have JOBS.  What about all of those people who dont have JOBS  or will soon be loosing their JOBS?  The American family is in crisis.  Many dont have jobs or they have to have more than one part time job to make ends meet.   Some don’t even have homes because they have lost them to foreclosures.  Some of their family members dont have jobs or can’t make enough to pay their bills.  But when you are barely making it…you can’t help anyone else out in a meaningful way either.  The Government financial recovery plan (mess) is mirroring our personal lives…they just dont know it yet!  Still, some of the leaders are using fear to try to get people to put their stamp of approval on their plan of action; they are saying that this might not be the right answer…but we have to do something or else!

         Obama’s treasury chief has announced that this country needs 2 trillion dollars to save the banks.  This is on top of the bailouts that have so far shown little return on the investment for the average American citizen.  Where is this whole thing going to end?  Why not give the money to the citizens and let them dig themselves out of their own very deep holes first?   That in turn might just have the added benefit of allowing them to pay off their loans and homes to those banks and businesses that made the bad loans in the first dang place!

          We are being told that all of this lending and loaning may or may not work….that they might make mistakes.  But that doing nothing would be a catastrophe.  How do we know that?  Maybe those businesses and banks should go under.  After all….once this money is loaned to these businesses and banks…they are going to expect tax payers to go into debt once again with these banks and businesses to circulate the money.  Who in their right mind is going to create an even bigger debt load on themselves with such uncertainty hanging over this country’s head?

        After President Obama’s treasurer spoke the Dow Jones dropped 3.5%.  This is traumatic news to everyone.  Confidence is more than shaken….it has suffered severe trauma.  We may never recover from this extreme mess as a nation.  This isn’t some meaningless recession.  We are bleeding money and we dont have the confidence in our leaders, our banks, our businesses to recover from it. 

         Former Presidential candidate, Senator John McCain calls this plan “generational theft”.  He says we are stealing from future generations their hard earned dollars and laying on them debt of incredible proportions.   He is right.  Where will it end?

           The Government thinks it is going to help everyone out by creating JOBS and bailing out banks and certain industry giants.  Helloooooooooooo…is anybody home out there?   How in the world are they going to do this?  By hitting the taxpayers out even more than they have already.  So far, no one has had a solution that has made a positive enough impact to change the direction of this massive financial failure!  What makes them think that throwing more money into the mix is going to make things better?  Can a government file bankruptsy…cause that is what it feels like is happening here…what is the old saying….borrowing from Peter to pay Paul?

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          Does it seem like the news scene is exploding with activity to anyone else but me lately?  Geez…each day there are tons of news stories that are equally important…but, there is not enough time to do them justice so i will just touch briefly on the most noteworthy for today.

            The biggest story is that Hillary Clinton the ended her bid for the Democratic nomination for running for the office of the President of the United States…she says that she endorses Senator Barack Obama now and urges her supporters to throw their support to him in his bid for the office of the President of the United States.  This is newsworthy because their duo quest for the Presidency was historic; Hillary because she was a female running for the job…and him because he is the first African American who was running.  Some of Hillary’s supporters are angry and say they will not vote for Barack.  Both Hillary and Barack are calling for unity in the Party so that a Democratic can win the Presidency from the Republicans.

            Today it was announced that Lynda Carter, the actress who played Wonder Woman, found a body in the Potomac River, Washington.  It was a woman and Lynda didn’t have a cell phone so she called to some fishermen to get help.  She stayed near the body until help arrived.   She said it was something anyone would do.  I beg to differ, as earlier this week…a video showed a person being hit by a car and noone stopping to help him out.  The world is slowly becoming desensitized to people in  need.  Good job Lynda for acting with compassion.

            On a sad note….a person of great renown in the sports world passed away.  Jim McKay a wonderful sportscaster who set the bar for todays new crop of televised sportscasters died at the age of 86 at his home in Maryland of natural causes.  I remember watching him while i grew up and he had a voice that you wanted to listen to.  He could create a natural excitement about whatever sport he was addressing at the time.  He was special.

           Also, the weather is playing a big part in the news this past week.  There has been horrendous storms in the central part of the country.  There have been tornadoes, torrential rains, flooding and lightening strikes.  Right now the National Weather Service has issued warnings for 15 counties in Indiana.  There are several dams that are on the brink of failing…and already widespread flooding is occuring.  Parts of several highways have been shut down due to flooding and people are being evacuated in several areas for the same reason.  With rain predicted off and on over the next few days…the threat could become more widespread for the residents of Indiana.

              Last but not least, the Dow Jones dropped 400 points today and the price of oil jumped again making the leap up 13% in the last two days.  The price of gas continues to fly skyward…making many families fearful about their financial future.  There seems to be no end in sight as to the lengths that the gas/oil industry will push the cost of purchasing the much needed precious fuels that make the world go round.  It is frightening to think what this winter will hold when it comes to gasoline and heating fuels. 

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