Monday, October 06, 2008

Where Do These Billions Come From?

Instead of blogging about this and that today, I was riveted to real-time stock quotes for much of the day. I had prepared myself for the possibility that markets might finish the day down 800 points, maybe even 900.

But around 2:30 this afternoon, they took a reverse course and finished the day down 370 points. Either investors were just playing around with us to get some attention or else they swooped in at the last hour to scoop up all those bargains out there. Whatever.

And then I read where the Feds are going to make available another $900 billion in loans to help banks. Is this on top of the $710 billion they pumped in during the previous two weeks? And is this in addition to the $700 billion bailout that was approved by Congress last week?

It's hard to keep track of it all and it makes my head spin. I'm feeling nauseated. Call 911 and get me an economist!

An account manager at work today was asking me to forecast what I expect to see happening in our industry in Q1 2009, and for the 3 quarters thereafter. I may not be the best person to ask, particularly if you are seeking optimism.

Meanwhile, I just have to stop reading all this financial shit and focus on things that I can actually comprehend.... like the woman in Colorado who had 86 cats in her 2-bedroom condo. Jesus Christ, I definitely know I don't have a problem now.

No comments: