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Tuesday, November 27, 2007

"Slowly at first, then all of a sudden"

Those are the words of conservative Ben Stein when asked to talk about the dynamics of a financial crisis. (This was a year or more ago, discussing the housing bubble and how it might end)

Well, things are looking very interesting these days for banks, Wall Street, and the dollar. No predictions from this blog (which was way too early bearish in mid-2005), but there is a sense of things unraveling and the Fed being boxed into a corner.

posted by Quiddity at 11/27/2007 08:24:00 AM

2 comments

While Ben Stein has been so wrong about so much lately, he's probably right about the looming fiscal crisis.

So long as my husband's job is secure, we're OK. One nice thing about not living in a place where the housing prices sored is we don't have a huge mortgage to worry about. And we're pretty good about not accumulating debt - much as we'd love a week in Europe early next year, we just don't have the money for that these days.

Just say no to free-spending, try not to drive too much and hope at least one person in your family is employed and has health insurance.

By Laurie Mann, at 11/27/2007 10:21 AM

Just say no to free-spending, try not to drive too much and hope at least one person in your family is employed and has health insurance.

Really, that's the best we can do in our family as well. Although we've already done too much of the free-spending, I think we can reign things in a bit and make it from month to month. We won't be getting ahead by any means but when everybody else around us is losing their homes and/or filing for bankruptcy then I guess we are doing OK.

By Anonymous, at 11/29/2007 10:49 AM