The Impending Recession

February 4, 2008   Filed Under: Finances, Pet Peeves, Recession   285 words

I have to admit, all these signs of a recession are getting on my nerves. It’s probably caused by me because I haven’t been working…that relates to no spending. If I do spend, it’s not in the right market. It’s all in school, textbooks, and food. The government needs people to waste their money feeding Target and Wal-Mart $500,000/day per store* on junk goodies such as clothes, dishes that will collect dust, lawn items, and other little odds and ends.

Today I received the third e-mail from HSBC in the past two weeks telling me that the Federal Reserve has dropped rates, and therefore my Online Savings Account rate has been dropped again. It’s at 3.55% (8x the national average supposedly), which isn’t bad, but I just have about $20 in there now, so the more cents I earn per month, the better. And instead the amount is going down. It dropped 0.25% since January 29th. I’m getting pissed off at the Federal Reserve.

I’m typing this from Safari, which I’ve been loving since I downloaded it earlier today. Thanks to Angela for letting me know that they have a beta version available for Windows users! Firefox was getting on my nerves. And Safari is faster anyways, so I figured I might as well use something that I won’t get mad at. Apparently utilities like Firefox and Cutenews can’t keep up with their user’s demands. I couldn’t live with either though, I had to upgrade!

* The Target I worked at in 2005-2006 made around that much per day during the holiday season.

Comment by GregPC on February 4th, 2008 @ 5:25 pm

Hello -

I’ve been asked to get a sense of how the social media community is feeling about the economy and came across your post. Do you have a more general sense of how people are feeling?

Thanks,

GregPC
Weber Shandwick

Comment by Gwen on February 5th, 2008 @ 2:27 pm

Well, you need to invest in yourself first and get a good degree so you’ll end up with a better job and more money with leads to you being able to spend more money in stores such as Wal-Mart and therefore saving the entire economy. Don’t worry too much, okay?

Comment by nadiyya! on February 5th, 2008 @ 7:56 pm

And here we are with the politics again! It’s like no matter how much we hate them, every day life ends up in politics. Here’s the way it is, though: if a Republican ends up in the White House, we’re going back to the 1930s. Every Republican candidate (except the anarchist Ron Paul) wants to send more troops to Iraq and drop taxes. How does that affect us? Pretty damn horribly. 400,000 more troops (proposed by John McCain) means 400,000 less people putting money into the economy. Lower taxes means less the government has to spend on things that NEED spending, like education and health care. Bush started a war and lowered taxes. Isn’t it OBVIOUS that if you continue the war and lower taxes again it’ll get worse?

I know you hate politics, you know I hate politics, but the whole thing just pisses me off. I got back half the refund I did last year, apparently because I don’t have any dependents. Hold up there; I’m also paying $2500 a month to keep a roof over my head. I want my money! =(

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