{"id":763,"date":"2008-10-04T07:58:44","date_gmt":"2008-10-04T11:58:44","guid":{"rendered":"\/\/www.askmrcreditcard.com\/news\/?p=763"},"modified":"2008-10-04T07:58:44","modified_gmt":"2008-10-04T11:58:44","slug":"well-what-now-some-thoughts-on-the-economy","status":"publish","type":"post","link":"https:\/\/www.askmrcreditcard.com\/news\/well-what-now-some-thoughts-on-the-economy\/","title":{"rendered":"Well, What Now? Some Thoughts On The Economy"},"content":{"rendered":"<p>The mess on wall street has degenerated into a fist shaking, back biting, teeth gnashing mess &#8211; and I am totally entertained! Ok, so maybe I shouldn&#8217;t have quite so much glee as the infrastructure of the economy crashes and burns, I know.<\/p>\n<p>I do have complete faith that <strong>big banking<\/strong> and <strong>big business<\/strong> will recover with no more than a temporary black eye. Now the little guy? You and me? Well, that&#8217;s not such a rosy prospect, now is it? So, I have to admit that while I&#8217;m thoroughly enjoying the media zoo surrounding recent events, I do have that small voice in the back of my mind (which sounds a lot like Morgan Freeman!) saying &#8220;<em>Well, now, and what will this bailout mean for you in the long run? Hmm?<\/em>&#8221; <\/p>\n<p>The fact is, most people agree that the bailout is A Very Good Thing. But I have yet to see anyone accurately predict what it will mean. We&#8217;ve reached the proverbial rock-and-a-hard-place, and there are no graceful ways to save the day. Only hard choices. <\/p>\n<p>From a mass media perspective, this is the government&#8217;s attempt to swallow Pop Rocks and Coke. They&#8217;re just hoping no one&#8217;s stomach explodes.  <\/p>\n<p>Think it&#8217;ll work? It&#8217;ll take a miracle!<br \/>\n<img src=\"\/\/www.askmrcreditcard.com\/news\/wp-content\/uploads\/miracle.bmp\" alt=\"\" title=\"miracleeconomy\" class=\"alignnone size-full wp-image-764\" \/><br \/>\n(Don&#8217;t know what this photo is? Sit back and let Miracle Max explain why the economy is <a href=\"http:\/\/www.youtube.com\/watch?v=4BRI0NtQ1DU\">only mostly dead!<\/a> <strong>Memo to Washington:<\/strong> Please note that a chocolate coating will make the bailout go down easier. )<\/p>\n<p>So. With all this uncertainty, let&#8217;s take a look at some of the folks who are giving us the <em>real<\/em> facts this week, shall we?<\/p>\n<p><strong>The Chocolate Coating (There&#8217;s A Pork Lining In Every Cloud):<\/strong><\/p>\n<p>For some fun facts on the wacky things that will be subsidized as part of the $700 million dollar bailout (Including wooden arrows and Jamaican Rum!) Check out these articles:<\/p>\n<ul>\n<li><a href=\"http:\/\/blogs.moneycentral.msn.com\/smartspending\/archive\/2008\/10\/03\/there-s-plenty-of-pork-in-the-wall-street-bailout-bill.aspx\">There&#8217;s plenty of pork in Wall Street rescue<\/a> at The Smart Spending Blog<\/li>\n<li> <a href=\"http:\/\/frugaldad.com\/2008\/10\/03\/the-2008-bailout-bill-wool-wearers-racing-fans-and-forest-eco-systems-can-finally-rest-easy\/\">The 2008 Bailout Bill-Wool Wearers, Racing Fans and Forest Eco-Systems Can Finally Rest Easy<\/a> @ Frugal Dad<\/li>\n<li> <a href=\"http:\/\/www.wisebread.com\/how-a-700-billion-bailout-became-a-800-billion-rescue-plan\">How a $700 billion bailout became a $800 billion &#8220;rescue plan&#8221;<\/a> @ Wisebread<\/li>\n<\/ul>\n<p><strong>The Bitter Pill:<\/strong><\/p>\n<p>From the individuals actually daring to put forth an opinion on the bailout, here&#8217;s the news:<\/p>\n<ul>\n<li><a href=\"http:\/\/milkyourmoney.com\/2008\/10\/03\/insiders-perspective-embarrassing-congressional-reaction-to-an-originally-dangerous-bailout-plan\/?&#038;owa_from=feed&#038;owa_sid=\">Insiders Perspective: Embarrassing Congressional Reaction to an Originally Dangerous Bailout Plan<\/a> @ Milk Your Money<\/li>\n<li><a href=\"http:\/\/www.doughroller.net\/news-analysis\/emergency-economic-stabilization-act-2008\/\">Emergency Economic Stabilization Act of 2008: What it does, what it will cost, and whether it will work<\/a> @ The Dough Roller<\/li>\n<p><\/br><\/p>\n<li><a href=\"http:\/\/steadfastfinances.com\/blog\/2008\/10\/01\/wall-street-bailout-bill-5-examples-of-wall-street-trickle-down-effects\/\">Wall Street Bailout Bill: 5 Examples of Wall Street Trickle Down Effects<\/a> @ Steadfast Finances<\/li>\n<li><a href=\"http:\/\/www.1stmillionat33.com\/2008\/10\/bailout-passed-in-house-whats-next\/\">Bailout passed in Senate. What\u2019s next?<\/a> @ My 1st Million At 33<\/li>\n<li><a href=\"http:\/\/www.moneycrashers.com\/congress-to-vote-again-on-economic-bail-out-plan\/\">Congress To Vote Again On Economic Bail Out Plan<\/a> @ Money Crashers<\/li>\n<\/ul>\n<p><strong><br \/>\nThe Secret Ingredient:<\/strong><\/p>\n<p>Along with the continuation of the bailout saga, there were a few less-publicized but decidedly better smelling proposals from Washington this week.<\/p>\n<ul>\n<li> <a href=\"http:\/\/www.thesunsfinancialdiary.com\/investing\/us-treasury-to-guarantee-money-market-funds\/\">U.S. Treasury to Guarantee Money-Market Funds<\/a> @ The Sun&#8217;s Financial Diary<\/li>\n<li><a href=\"http:\/\/www.bargaineering.com\/articles\/fdic-asks-to-temporarily-increase-deposit-limits.html\">FDIC Asks to Temporarily Increase Deposit Limits<\/a> @ Blueprint for Financial Prosperity<\/li>\n<\/ul>\n<p><strong><br \/>\nCommon Cents:<\/strong><\/p>\n<p>(The blogs for the rest of us!)<\/p>\n<ul>\n<li><a href=\"http:\/\/www.getrichslowly.org\/blog\/2008\/10\/03\/ask-the-readers-choosing-a-bank-during-the-credit-crisis\/\">Ask the Readers: Choosing a Bank During the Credit Crisis?<\/a> @ Get Rich Slowly<\/li>\n<li><a href=\"http:\/\/www.thesimpledollar.com\/2008\/10\/02\/the-only-thing-we-have-to-fear-is-fear-itself\/\">The Only Thing We Have to Fear Is Fear Itself<\/a> @ The Simple Dollar<\/li>\n<li><a href=\"http:\/\/blogs.creditcards.com\/2008\/09\/will-cash-become-king-again.php\">Will cash become king again?<\/a> @ Credit Cards.com<\/li>\n<li><a href=\"http:\/\/www.mightybargainhunter.com\/2008\/10\/03\/time-to-get-back-to-basics\/\">Time to get back to basics<\/a> @ The Mighty Bargain Hunter<\/li>\n<li> <a href=\"http:\/\/www.thedigeratilife.com\/blog\/index.php\/2008\/10\/02\/frugal-steps-to-survive-economic-crisis\/\">10 Frugal Steps To Help You Survive A Tough Economy<\/a> @ The Digerati Life <\/li>\n<\/ul>\n<p><strong><br \/>\nEditor&#8217;s Choice: <\/strong><\/p>\n<p>I <em>had<\/em> to pass these two on&#8230;<\/p>\n<ul>\n<li>The Credit Crisis is REAL! It has to be, since it has an <a href=\"http:\/\/www.investopedia.com\/terms\/c\/credit-crisis.asp\">official definition<\/a> on Investopedia&#8230;.<\/li>\n<li>Inspire Me! <a href=\"http:\/\/www.gatherlittlebylittle.com\/2008\/10\/01\/do-you-appreciate-what-you-have\/\">Do you appreciate what you have?<\/a> @ Gather Little By Little<\/li>\n<\/ul>\n<p><strong>Carnivals, Festivals, and a Cuppa Cheer:<\/strong><\/p>\n<p>Thanks to these carnivals for featuring our articles this week. <\/p>\n<ul>\n<li><a href=\"http:\/\/www.thefinancialblogger.com\/money-hacks-carnival-32-have-you-ever-edition\/\">Money Hacks Carnival #32 &#8211; Have You Ever Edition<\/a> @ The Financial Blogger<\/li>\n<li> <a href=\"http:\/\/questtobedebtfree.com\/carnival-of-debt-reduction-159they-never-said-it-edition\/\">Carnival of Debt Reduction #159~They Never Said It Edition<\/a> @ On A Quest To Be Debt Free<\/li>\n<li> <a href=\"http:\/\/www.debtkid.com\/carnival-of-personal-finance-172-meltdown-edition\">Carnival of Personal Finance #172<\/a> &#8211; Meltdown Edition @ Debt Kid<\/li>\n<li> <a href=\"http:\/\/www.fixmypersonalfinance.com\/2008\/09\/29\/very-few-edition-of-the-carnival-of-credit-report-stories\/\">Carnival of Credit Report Stories<\/a> @ Fix My Personal Finance<\/li>\n<li><a href=\"http:\/\/www.moolanomy.com\/873\/money-hacks-carnival-31-crisis-and-bailout\/\">Money Hacks Carnival #31 \u2014 Crisis And Bailout<\/a> @ Moolanomy<\/li>\n<\/ul>\n<p>Well, that concludes this week&#8217;s edition of &#8220;<em>Help, we&#8217;ve fallen and we can&#8217;t get up!<\/em>&#8221; <\/p>\n<p>Sincerely wishing that both you <em>and<\/em> the economy will live long and prosper!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The mess on wall street has degenerated into a fist shaking, back biting, teeth gnashing mess &#8211; and I am totally entertained! Ok, so maybe I shouldn&#8217;t have quite so much glee as the infrastructure of the economy crashes and burns, I know. I do have complete faith that big banking and big business will [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[9],"tags":[169],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.10 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Well, What Now? Some Thoughts On The Economy<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.askmrcreditcard.com\/news\/well-what-now-some-thoughts-on-the-economy\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Well, What Now? 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