Recession

The Dow nose dived plummeted tanked fell 350 points or so today. People blame oil prices. It is the realization that we are in a recession. Joe on the street frigging knows it. I know it. People who are out of work know it. People getting thrown out of their house know it. The only people who don't know it are the 'experts'. Perhaps they are afraid to say it.

The big discussion at lunch today was that too many of the people getting thrown out of their house should have known better that they were getting in over their head. I'm not so sure. I was asked if I wanted some kind of funny loan. I said no. I got a fare interest rate for the day I asked. I got pretty fare terms that day too. I may have gotten in a bit deep. If anything happens to or finances, we are done for. I prey that does not happen. I prey to hit the lottery. Why not?

Nearly everyone I speak to on the subject just assumes things are going to get worse before they get better.

Do you suppose anyone will learn the lesson of don't bite off more than you can chew? Maybe. Then, the next generation of idiots comes down the pike. Do you suppose the brokers who packaged these things up knew they were selling crap? Do you suppose the banks all over the world knew they were buying crap? Do you suppose any one who sold these loans to individuals might have stretched the truth while passing them out like cookies?

Not on even money. Not a one.