Tuesday, September 30, 2008
Well, we didn't fall into the financial abyss.......yet. The Dow Jones Average finished up 485.21 today. The Nasdaq finished up at 98.60. I took a peek at my stock holdings (I couldn't bear to yesterday) and I saw where some of the loss was made up from yesterday. The financial crises isn't over yet. McCain is more erratic than ever (is he proving just how dangerous he is or what?) Bush appeared before the cameras again this morning. Were you reassured? One commentator on MSNBC said he looked like a beaten dog. That was an appropriate metaphor. What a mess we are in this country. Just yesterday, Wachovia Bank "merged" with Citibank. Wachovia is where one of my pension checks come from. This is hitting close to home now. I can see all too clearly how a recession would affect me. My part time job is important to help me pay my bills. Bills that I didn't anticipate when I retired to Delaware. The biggest bill is a 30 year mortgage that I have on my home here in Delaware. Yes, I got caught up in the real estate bust. I couldn't sell my Pennsylvania house and I had this new Delaware house. I finally had to lower my price on my Pennsylvania house in order to sell it. Unfortunately, my selling price wasn't enough to cover the cost of my new Delaware home, thus I had to get a mortgage. A mortgage that will be paid off when I'm 95 years old! That's why I need my part time job, to help pay that mortgage. If the economy goes down the tubes and a recession happens, it is quite possible that I could lose my job at the hotel because of less people traveling and enjoying the charms of Lewes, Delaware (where I work.) If I lose my job, that results in less income but it doesn't result in less bills. My monthly bills would remain the same. Mortgage, electric, heating, telephone, gas, TV, DSL, water, insurance. The only thing I can cut back on is eating out. One of my few pleasures. I don't eat out at fancy expensive restaurants but I do eat out with friends. I wonder if they serve cat food at the Purple Parrot?