Trash VentThe number one spot to vent!

With congress voting NO on the 700 Billion dollar relief hard times are coming. All indicators look to be pointing towards a recession.  Many of us who are employed grinding away at a regular 9-5 maybe walking towards a living hell until the economy decides to correct itself.  The question we need to ask ourselves now is How bad will it get? I sit around every night watching the days events recapped on CNN. Trying to make some sense of what is going on. Things seem to be more and more confusing. Interviews being done with panels of supposed experts from financial institutions tell us not to worry and have confidence in the markets but when you are taking 20-40 percent hits, even the people who look at the glass half full start to be a little pessimistic.

The reality is no one has any idea how bad the situation will get. The titanic has just hit the iceberg and we are all into drown. How is it possible that this all stems from bad mortgages? Banks and other financial institutions had a fiduciary duty to make sure that they money was not to be lent to people that did not and should not have qualified. Instead there were corrupt CEO’s and high ranking management that looked to make fat bonuses and risk the finiancial safety of everyone. Now with economy being flushed down the crapper there might be a chance that these same people are entitled to their bonus checks??? Are you kidding me?!?! I hope the FBI and SEC find out who all parties are that were responsible for this and PROSECUTE them to the FULL EXTENT OF THE LAW! If beloved Martha Stewart can do time for trading 250,000 dollars worth of stock, I cant wait to see what happens for the billions of dollars lost. Gordon Gecko from the movie Wallstreet once said “two things that are sure in life…death and taxes”. With the way the market looks I would not be surprised to see an increase in either one.

Ok so by now everyone has heard the news about Lehman Brothers and AIG.  The questions is how bad are things going to get? In a country where debt is unavoidable all signs are pointing towards things getting worst. Looks like AIG has received a life line from the government but will this be enough to bring order back to what looks to be the worst stock market we have ever seen. With most of our retirement money tied up in these types of companies things sure don’t look pretty.

Most analysts, financial planners and stock brokers always tell people “don’t worry this is a correction” or things like “the market will bounce back”. Yeah right! Try telling this to your clients that were planning on retiring this year or in the next 3 years. I truly want to know what their clients will say when hearing that.

I am by no means a Economics PHD nor am I some financial guru, but I can tell you this if things keep going the way they are going and The US cant borrow a dollar or lower interest rates to induce more spending….things are only going to get worst.