Fateful Day
As I sat and watched the TV today, some of the debate, the vote, watched it fail (in shock like the rest of the US) and watched the Stock Market plunge in the next few minutes, something happened inside of me. Maybe a relief to know where we are at, maybe a wondering at what was so wrong with the whole idea of a bailout anyway if that many congressmen dared vote against it - but mostly I woke up. I've been through tough times before and I know I can endure them. I know how to do poor. Now it's time to focus our energy and just really get to work!! The Lord has a new plan.
I also can't help but feel how very well positioned we are from following the counsel of the Lord to get out of debt and have food storage. Thank goodness for prophets!
I also think how inspired the Relief Society conference message was, that now, as never before, we sisters need to arise and fulfill the purpose of Relief Society. There will be so many people who will need our help.
I also can't help but feel how very well positioned we are from following the counsel of the Lord to get out of debt and have food storage. Thank goodness for prophets!
I also think how inspired the Relief Society conference message was, that now, as never before, we sisters need to arise and fulfill the purpose of Relief Society. There will be so many people who will need our help.
posted by Mom and Dad at 6:22 PM
1 Comments:
Wow! I almost got over-confident there, didn't I?
It's still not the end of the world, necessarily. If the House passes anything in the next week, the stocks should rebound - and if that happens soon enough, there probably won't be too much of a recession (I think).
It looks like what happened is that many Republicans who are up for re-election are letting Sen McCain go down with the ship alongside his captain, Pres Bush.
A lot of folks said today that Obama now has a smooth ride to the White House, since he never joined McCain's position that the economy can't be fixed without help from the Future President. McCain announced he'd already delivered the votes, and then two thirds of his troops bolted (with a little help from Nancy Pelosi). Now everyone thinks Obama understood the economy better all along.
We heard late Sunday that the last two MEGA-Investment Banks are returning to traditional bank status (no ultra-risky deals) - so in the future if the super-risk-takers go down it won't drag all of us down with them - and perhaps this prompted the House's wager that Doomsday would pass us by after all.
I think many Congressmen have concluded that we don't have to make a snap decision on something this important - and that perhaps we didn't have to make such snap decisions after 9/11 either.
I also suspect that many Congressmen realize that they - and they alone - know when they're going to announce a fix - and they can buy up as much stock as possible at super-discount prices about 5 minutes before they make their announcement.
In times like this, a lot of money comes to anyone who can figure out how to buy cheap & sell dear. I guess I don't mind too much if they don't kill the goose that lays the golden egg.
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