NOW HOW ABOUT YOU TELL ME WHAT THIS MEANS?
I'm not sure an official champion has emerged yet from Wednesday's voting... Blackstreet, Coolio, and Seal all seem to have at least captured a few of your hearts. I really can't explain Gotham City's appeal to me... but well, it's there. Even if R. and Puffy have been left behind in the voting.
Which one of you smart ones in the comments can tell me what the last couple weeks on Wall Street mean. Or, to clarify, what does all this mean practically to me and probably the generally assumed "whoever" that reads this blog? I'll give an example:
I mean clearly, a few banks have failed. I know that can't be good but my life really hasn't changed yet... how could it? Am I going to be eating potatoes half a year from now? Or when I read the headline "WASHINGTON MUTUAL NEXT TO FALL!" - well - that's my bank. I have no idea what "about to fall!" means. Like, there goes my money Jimmy Stewart style? All four hundred of my dollars?? None of you will be able to afford Canopy Glow on our CD release tour? We're going to get stuck in Europe this November because no plane will fly back to the States? Because looters will have taken over the streets and smoke will be pouring out of the National City near my house?
Or if the government really is going forward with this rumored mega-bailout (what?)... well, what does THAT mean? I just read the headline "We're All Socialists Now" and well, that's surprising. And good news for Obama, right? (HA HA HA.) No no, but really - what does it mean that the government could own a nice chunk of the economy? Higher taxes? New logos? Patriotic color schemes?
Change we might have to believe in.
I'll be honest - these are a few of questions I have. They aren't smart, impressive ones. It's much more fun to ask about things that you're familiar with - ask the "ah ha!" question or two that allows the audience in on the fact that you know what you're talking about. The above questions aren't it. I don't know what I'm talking about and besides the overexaggerated fear or two... well, if anyone knows a good financial blog or two to pass on that would be much appreciated. Because right now I know "markets down is bad" and "the 'whatever' that is happening right now is REALLY BAD."
Or is the "REALLY BAD" - is that just for folks with money? Because if that's the case, I am sittin' pretty!
A late entrant.
They don't make 'em how they used to.
***update: I thought this article was pretty helpful... scroll down to numbers one and four if you don't feel like reading the entire thing.