HOUSE REJECTS BAILOUT; DOW PLUNGES 600 POINTS
Sep 29th, 2008 by admin
12 Responses to “HOUSE REJECTS BAILOUT; DOW PLUNGES 600 POINTS”
Leave a Reply
RECENT COMMENTS
- On the Way the Death of Someone Dearly Beloved Changes Us (2)
- Saturday (4)
- For a Friday Night (1)
- Sensitive (6)
- Loving a Woman (13)
- riverRun, August 25, 2010
- admin, August 25, 2010
- riverRun, August 25, 2010
- julia, August 19, 2010
- firefly, August 18, 2010
- Branjor, August 14, 2010
- admin, August 14, 2010
- gbl, August 14, 2010
- gbl, August 14, 2010
- admin, August 14, 2010
- Branjor, August 13, 2010
- Level Best, August 9, 2010
- maria, August 5, 2010
- Me and a Gun (1)
- Bloggers, Commenters Beware (3)
- A Terrible Thing (35)
- The Way of All Ideology (3)
- The End of Capitalism (3)
-
-
HEAR MY INTERVIEW ON THE F-FILES
-
Meta
-
LICENSED UNDER CREATIVE COMMONS
ARCHIVES
CALENDAR
-
QUIVERFULL BLOG
I get only one tv channnel using rabbit ears, that is the Canadian Broadcasting Corporation (CBC). The defeat of the financial bailout package is THE noon hour news in Canada as well. Roy Blunt (Republican whip) was blaming Nancy Pelosi for the blocking of this legislation. Accused her of “partisanship”. Obama told his audience there would be an “emergency rescue package”. So, perhaps, a woman lawmaker, is the hero who stopped the wealthy from being “corporate welfare bums”?
Here is that link to the CBC site where they did a timeline of U.S. and Canadian financial meltdowns.
http://www.cbc.ca/money/story/2008/09/15/f-timeline-banks.html
This time it isn’t hyperlinked.
It had to happen.
I saw this in vision when I was a little kid, it scared the shit out of me.
Now, I feel awestruck and inspired, the way I feel in gale force winds.
Although this time it’s a category 54823 hurricane.
Nevertheless, wheeeee!
And Hong Kong had a bank run.
:::ripple ripple:::
Everyone on here is probably sitting around doing nothing. Feminism as a money losing or a do nothing proposition.
Thought it would be a good time to trade while everyone was in frozen mode. So today when the market faced its largest POINT decline (not percentage decline) I traded, and made a profit of $447.00. And tomorrow I’m poised for a $350-650 profit.
I love being a lesbian market contrarian. Are you women buying and selling or are you asking that profitable American questiion “paper or plastic, latte or regular coffee?” at minimum wage? Wake up women, study and learn, don’t sit on the sidelines of market history! Oy vey, feminism and money??? Not much connection here, but hey, I never went along with any tribe.
Buit hey Mary Sunshine, did you trade or did you just sit out yet another economic opportunity while the chickens ran for the shed.
It’s about economic analysis, do the research, make the money, and call it a day. Or live poor like feminism loves to worship.
Oy vey at least it was a 777 closing. Had it been 666 no doubt the radical feminist money losers would be calling it the work of the devil
Lesbians should be smarter, but they love to worship the goddess Do Nothing and Be Poor. Too many adverents to that altar.
Satsuma,
Get a grip. I’m poor. I have nothing to trade with except my 64 year old body.
If minimum wage workers weren’t poor, where would all the profits on capital come from?
So feminists are poor because we’re feminists? Way to hate women. Way to hate feminists. Way to hate lesbians living in poverty.
The whole freaking global money system is coming down. That’s why I’m saying wheeeeee!
There will no longer be anything to enslave us with but rival physical war lords. Back to the middle ages. Maybe then females can develop some clarity of vision. Hope so.
Satsuma, you know, you have talked forever about women contributing to their 401(k)’s, saving, being frugal, etc. The women I work with every day who have done exactly what you’ve said are hurtin units now in some ways, having lost thousands and thousands of dollars because of this particular crash and no way to make it up given their age in some cases, not to mention women who have already retired and are trying to live on their retirements.
There are a whole lot of ways for a woman to invest in her future. Money is only one way and in our society, it’s not a very good way, a whole lot of the times.
Let me explain one simple concept: a retirement account is FOR retirement only. If you are going to be working for 10, 15, 20 years or longer, than the purpose of the 401 k is for LONG TERM planning.
When you get to within five years of retirement, you can gradually change your strategy to accomodate this. You really have to do the math to caluculate what you will need, and how to use the 401 k as a tool. And I don’t believe retirement is an absolute, because you are always going to be doing something.
There is a lot of anger at “rich white guys” here. There is the issue of how do women close the gap in wages between women and men, and one equalizer is the market itself. No man can prevent me from doing my own research and making my own money.
Women typically are about 10 years behind men in retirement planning. If the market declines sharply in one day or one year or five years, you are buying things on sale.
People get very upset at daily news, when retirement planning is simply a slow and steady long term thing. If you don’t do this, you really will be poor at age 65 and that is not fun. Lots of women here are very poor. No one helped them with money when they were younger, no one gave a damn. Young women here, there is plenty of information!! Get to work!
It’s very hard for a lot of people to understand this concept, which is why if you do several things, you’ll be fine. What drives me nuts about radical feminists is that they have such a failure mentality when it comes to this. It is such an important thing, and yet Suze Orman has to do things like BEG women to even open savings accounts in their own name.
Money is an excellent way to plan for retirement, so is owning a house LONG TERM, so is buying art or precious metals, so is a lot of things. Some people rent many properties. People who are financially successful are no different from the average person, they only DO things differently. There is no perfect way, there are just many ways. I want to have four to five different income streams working at once. So I want strategies for earning money even if I get unemployeed, for example. It was always a point of pride to me never to take unemployment benefits or government subsidies. I thought as an able bodied woman, that I could do a lot better by not being a slave to government “programs”–hate that word “program” by the way.
But to say wholesale in our society that money isn’t good is rather silly. It is a means of exchange. Women can learn this, they can also do the one thing that is rare in history: they can really take full responsibility for their lives and NOT depend on men for support. Men have controlled assets since the beginning of time.
There are many accounts that i have for women who are taking retirement payments. These women are not buying or selling, they are living on dividends and capital gains, while the stocks just sit. If a stock goes down, you will still own 100 shares or whatever amount you have. If it is paying 3 cents per share dividend, you are still earning money from the stock.
Foolish people panic, and this concept is very very hard for people to understand. This persistent negative attitude to the financial freedom of women is shocking to me here. This kind of thing panics and causes women to do nothing, and that is very very common.
Banks fail, stocks fail, people get divorced, get ill etc. WaMu can fail, and yet the funds are FDIC guaranteed up to a certain amount. Lots of things can go wrong, but that’s no reason to quit or give up.
The real tragedy is when women do nothing out of fear, instead of really getting a good financial education. I strongly believe in education of all kinds, and would never just sit around and do little, when I could do a lot.
I want real choices in life. I don’t want to be forced to do something just for lack of money. People who don’t have a lot of money always belittle it. Kind of like the kid who doesn’t ever learn how to play the piano and makes fun of the kids who do learn. It’s a common thing to hate successful people, and that is a hallmark of radical feminism that’s not so good.
If you keep ALL your money in a savings account or CD, it really won’t keep up with inflation as the years go by, which is another type of risk.
Yesterday, while everyone was in such a panic, I bought 1000 shares of a stock that had gone way down. This morning I sold it at a profit of $500. It was a small gain, and I use this account for small stuff to keep sharp. Where the courage and training come is in not following the crowd (or hurd as the case may be), and formulating plans for up and down markets. Math is a very good mental discipline. I believe the average barista at Starbucks would have to work 62.5 hours to achieve the thing that I did in less than 24 hours — most of this time I was sleeping, and when I woke up this morning the stock was already sold. This is a separate strategy from retirement planning, or emergency planning.
Now I didn’t always know how to do this. But the thing I like about the market is that it is all about ideas and strategy–like a game of chess. It is a very sophisticated game. I wouldn’t want to work for $8.00 an hour. I worked many minimum wage jobs in the past, and thought that this wasn’t for me. Lots of women settle for this, but you really don’t have to.
I like to think my way to a solution. It is fun to see how to move in the midst of chaos. A market downturn is a lot easier to deal with than a flood or an earthquake — I’ve been in all three situations.
I’m sure young women on this site will read books, search the internet and find out all about this. Older women will complain and want to not do much, and then expect somehow that the universe will provide. I focus on math and money, because it’s an interesting mental challenge. I believe in having several income streams, and that I don’t want to earn my living in just one way.
Money is my employee.
Despite all the craziness out there, a calm mental discipline day in and day out will win the day. 401 k goes way down? Well, if I’m only 48 years old, then I wait and add money each month to buy things on sale. Emergency comes up at home, I have a regular savings account to handle the short term. Stock goes way down, I wait patiently. Stock is hopeless, I wait until I need a tax deduction on a loss, and then I try to learn from the mistake. I’ve owned stocks that have gone down to zero. Live and learn. The only difference is that I keep working again and again. I keep thinking and learning. The stock market is really a mental game.
Being a bit of a lesbian contrarian, I like the idea of making money on the worst market day in recent memory. It amuses me.
But the one thing I don’t do is not be involved and not get educated about all of this. Men expect women to be stupid about money. The guys at my company think women spend money all the time, and that it’s very hard to get women to save and invest. Women fear this more than men I think.
I don’t know why radical feminists rarely seem to get all this. It seems like an odd omission. All I know is, I wouldn’t want to be poor and lesbian in America. I want the financial freedom to live where I want to live, and not have to put up the things people with low income have to put up with. I don’t like to be unprepared, and when I read the stories of dental horror or poverty here, it just pushes me harder.
Money is but one aspect of life, but it is a very important one for lesbians. I’ve seen my fair share of lesbian poverty and low income over the years. I chose not to go down that road, and was one of the very few feminists in the early 80s talking about this stuff. No one else was very interested, and that was unfortunate.
So I hope this helps. In every market there is always a way to make money. There is always a strategy. It’s rather like solving a crossword puzzle — the more decisions you make in the market each day, the better you get. I guess I had fun proving it yesterday, because everyone was screaming about losing money, but that’s not how I think. Being a lesbian in a straight world has given me a decided mental advantage, because I really don’t think like most women at all. I thought that if I had a different mind and a radically different life, then it would be an advantage in the market where group thinking and fear predominate.
Fear and greed move the market, but planning and strategy bring profit and sanity to the mind.
Now Mary Sunshine, this writing is for the young women here who won’t make the same mistakes in life. This is for people who don’t want to be poor or who want to prevent poverty. It is already too late for a lot of women in America. After all, I have been telling this same message to feminists since 1980, that is a very long time ago. Back then I was making a very modest living.
I realized that this thinking and hatred of money among radical feminists was the one part of radical feminism that I just didn’t like and would not give me a decent future.
Young women can read this site and learn. It is a morality tale.
Markets rise and fall, but doing nothing for years is not a good idea either. Radical feminists still have a hard time with this, and I think it’s because they are surrounded by really negative attitudes towards wealth. I learned a lot by going out and interviewing dozens and dozens of self-made millionaires, because I wanted to learn from them. A lot of these people are very active in their communities, and doing very good work. One woman works in a program that rescues abandoned babies, for example. These self-made people have always been an inspiration to me.
28 years is a long time. Believe me, I tried to warn women back then, and some women really got it. They made sure they took a portion of the wage earnings, and used it for other things. I had the same ups and downs as everyone — laid off, partner with severe illness, high housing market, low housing market, low paying jobs, the same old frustrations as everyone. But I did have a long term plan of action that was very different from a lot of women. I had a specific numeric goal each day, and I did a lot of reading and studying.
Poor women are in bad shape. But young women don’t need to choose future poverty. It’s the lesson for the next generation. And with all the information now avaiable and the analytical tools of the Internet out there, there was never a better time for women to be good at finance. The tools are there, the books are there, and also it’s fun to pit your wits against a challenging market like this. You learn in life by making a lot of mistakes, and then learning and then getting better. Competance with money is simply a lifetime art, just the way cooking or gardening or playing a musical instrument is a lifetime art. Women get mad at me for saying these things. Heck, I should have learned to play the piano when I was younger, but I don’t get mad at the women who are really good pianists Mary Sunshine. I admire competance and greatness, but I get tired of the whining about money that is a classic of radical feminists sometimes. Or maybe it was a certain generation of radical feminists, I don’t know.
I don’t want a woman here who is now 22, to go for 28 years and have little to show for all that work. Be mindful that certain choices can put you at risk financially. Get educated and succeed!
Saving a part of your earnings is the most basic first step. No matter how little you make, you can still save. You won’t ever stay in a minimum wage job forever if you keep bettering yourself.
And that’s my $1000 for the day
Mel Hurtig is an author from Edmonton, Alberta, in the middle of Canada. He was, also, once a publisher of wonderful books about and by Canadians, at a time when there was not enough written about our history and our political issues. This morning, a political activist acquaintance sent an e-mail with a link to a video, which Hurtig put together, explaining his view on what is currently happening in Canadian politics. I haven’t seen it all yet, however, I can see from watching the beginning of the video, that it has a universal relevance. Hurtig starts with an analysis of the concentration of ownership of the Canadian media, which results in one voice, which is a very politically conservative voice (I would think to protect the status quo). He sees the pervasive influence this one voice has on citizens who are inundated with this one perspective on current political events. This “one voice” includes cross ownership where the same few people who own the newspapers, also own the television stations. Hurtig goes on to talk about the election and issues such as social spending from an international point of view.
Here is the link to the video:
<!– /* Style Definitions */ p.MsoNormal, li.MsoNormal, div.MsoNormal {mso-style-parent:”"; margin:0cm; margin-bottom:.0001pt; mso-pagination:widow-orphan; font-size:12.0pt; font-family:”Times New Roman”; mso-fareast-font-family:”Times New Roman”;} @page Section1 {size:612.0pt 792.0pt; margin:72.0pt 90.0pt 72.0pt 90.0pt; mso-header-margin:35.4pt; mso-footer-margin:35.4pt; mso-paper-source:0;} div.Section1 {page:Section1;} –>
/* Style Definitions */
table.MsoNormalTable
{mso-style-name:”Table Normal”;
mso-tstyle-rowband-size:0;
mso-tstyle-colband-size:0;
mso-style-noshow:yes;
mso-style-parent:”";
mso-padding-alt:0cm 5.4pt 0cm 5.4pt;
mso-para-margin:0cm;
mso-para-margin-bottom:.0001pt;
mso-pagination:widow-orphan;
font-size:10.0pt;
font-family:”Times New Roman”;
mso-ansi-language:#0400;
mso-fareast-language:#0400;
mso-bidi-language:#0400;}
video.google.com/videoplay?docid=8632069635967998175&ei=aRvcSMGMHpjUq
Heart I left out the http:// in front of it because of what happened last time when I pasted a hyperlink in my comment.
As one of my alternatives to the “big brother” media, I am glad I have your blog to go to for radical feminist political analyses . I find it easier to understand your writing (thinking) from our common vantage point.
The whole freaking global money system is coming down. That’s why I’m saying wheeeeee!
There will no longer be anything to enslave us with but rival physical war lords. Back to the middle ages. Maybe then females can develop some clarity of vision. Hope so.
Rock on Mary Sunshine. I’m WHEEing too! I mean, I’m sad that hard working women are losing a lot from this, but I’m more sad that they bought into the whole money/owning a house/buying shares thing in the first place.
When I see those scared little men on wall street all running around wide-eyed and with their knickers in a twist, goddess it makes me laugh.
Let’s see, global economy crashes. Women lose their businesses, people are unemployeed, children go hungry, and we go back to a time when women were more enslaved than they are now. Makes perfect sense to me.