Wednesday, October 22, 2008

Economic Ramblings for the day

"How's your tummy?" could be a nice subtitle as we've really had a rollercoaster ride in the past month or so! I saw a headline this morning that oil has dropped under $70. It seems actually crazy to see gasoline under $3 after paying almost $5 after Hurricane Ike! I wonder how people are doing out there-did 'habits' really change over the past month? People parked or sold their SUV's and trucks and bought fuel-efficient vehicles. Will there now be a mad rush at the Hummer dealership again? What about actual driving habits? People took mass transit, cancelled optional trips, didn't go to the mall, etc. What's happening now? I'd be interested to see current trends!

One comment on the election-I truly feel that regardless of the winner next month, we will all be surprised at the media reports on November 5th that "Hey, it's not that bad out there". Regardless of your candidate, they NEED bad news right now. For example, Obama can blame Bush/McCain for the current economy. McCain can say that Obama's taxes will kill the economy. Barr? Well, he can just bug both candidates as an 'outsider'. Mark my words-the economy will miraculously 'get better' after the election. Oh, by the way, yes, I AM a cynic!

What's next for the Fed? Wow, seems like they want another round of economic stimulus checks. I would love to have some extra spending money for Christmas shopping, but I don't think that a) that is the answer and b) that I'll see a penny! How about you? Uncle Sam says SPEND!

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