For those three or four folks who may be wondering what’s happened at this here money blog, well, the answer is: Not much.
If I had any gripping tales of financial abandon to tell, I’d do it. I scan the news every couple of days to see what’s going on in the world of personal finance; certainly nothing life-changing has popped up. (Well, ObamaCare is about to kick in. That ought to be good for a few million laughs. Or tears.)
The Federal Reserve is still doing its best to ensure that “saving” remains a four-letter word, that savers must be well and duly punished, and that stock markets cannot be allowed to drop more than a few percent at a clip. Nothing new there. This is what happens when you have an economy that “grows” only when debt expands and risk-asset prices rise. No “growth” if people/entities/governments don’t keep taking on more and more debt and risk. What could possibly go wrong?
On the personal front, our family savings got about $20k lighter in September. That’s what getting a new roof, new siding and windows throughout, and gutter installation will do to you. Until this month, the largest check I’d ever written was for our home central A/C system back in 2007. I can tell you that the A/C payment felt like a sneeze compared to the exterior repairs. However, we had well more than enough liquid savings to cover it, and I’m mighty thankful for that. (‘Tis also nice to pull up in your driveway each day after work and NOT cringe at the outward appearance of your home. The old homestead looks pretty nice now, if I do say so myself.)
And that’s my little roundup, for now. Back to your regularly-scheduled nap, kids!
Anonymouse wrote:
Thanks for updating! I really enjoy your blog.
MikeM wrote:
You know things are bad when NBC news is reporting bad things that can happen if US defaults.
http://www.nbcnews.com/business/whats-worst-could-happen-7-debt-default-doomsday-scenarios-8C11366851?ocid=msnhp&pos=1
But, they are reporting that we have to raise the debt ceiling to borrow more so that we can pay on the debts we owe. And how irresponsible it would be if we don’t borrow more to pay on the debts that we owe.
It is so mixed up, it makes you feel like a mad man when you try to see it from a logical perspective.
My brother Ron is $170,000 in debt and needs more credit to pay his bills. For a few years now Ron makes around $20,000, and spends around $30,000. I think maybe Ron should come up with a way out of this mess. Ron tells me it would be detrimental to his income if he cut back. I tell Ron I will not co-sign any more debt for him unless he comes up with some plans to spend less money. Ron says I’m driving HIM bankrupt, all the reporters in town say I’m playing a dangerous game and I might drive Ron bankrupt. All I want to do is pull my hair out and Scream “Ron IS F@@KING BANKRUPT!!!” he can only pay any of his vast mountain of debts by signing up for more debt. And the world sits back and says I’m about to ruin Ron’s life because I won’t co-sign for more. They say we might just get into some tough times if Ron doesn’t get more credit. It might shake confidence in Ron if we don’t get his credit limit up to $180,000 or $200,000. Without that confidence in Ron there will be a real shake-up.
So, NBC is only reporting on how much trouble there will be if Ron (the US) doesn’t get that bump up in his (our) debt limit. The real story and the real worry, that $170,000 (17 trillion), are just neglected and denied.
Kevin Watts @ GraduatingFromDebt.com wrote:
Thanks for the update. Give us update of last two months.