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Saturday, July 12, 2008


Terrifying The Crap Out Of Me

I realize that you probably don't come to Modern Fabulousity to discuss economics and the housing market decline, but I think this is worth mentioning: the government may have to bail out Fannie Mae and Freddie Mac, the mortgage financial companies with tumbling stock prices. Why does this affect you? Because they guarantee about $5 trillion in loans...an amount that, in one quick stroke, would double the federal debt and cripple our economy.

Is anyone else terrified? Is anyone else thinking it's time to move to Europe, before the bottom drops out?



Blogger Steve On Broadway (SOB) said...

Yes. I'm terrified. I hate to say it, but I'm really worried that this economic period most are calling a "r" will result in a "d."

To be honest, I'm also a little ticked. As someone who dutifully pays my mortgage each and every month, on time no less, I made sure I didn't buy more than I could pay for. Whatever happened to personal responsibility, let alone corporate responsibility?

7/12/08, 2:28 PM  
Blogger OKLAHOMO! said...

Well. I must admit I didn't really need those new shoes or that extra glass of Cakebread or that 3 day bender that went on my VISA, but...spending money is fun. There's just no getting around it.

Don't worry, though. All those figures are just numbers in a computer somewhere, so if all else fails, we can just oops, did I unplug that server?

And I wouldn't advise moving to Europe by the way if you want to avoid the fall. Let's go to Costa Rica. I hear it's lovely there this time of year.

7/12/08, 11:00 PM  
Blogger Jill said...

Yes, I'm pretty damn terrified, especially since I have been living all weekend with the knowledge that there is a Big Meeting™ on Tuesday that could very well result in me being an unemployed 53-year-old web developer. Scary, scary times.

It's also scary because the media are doing everything they can to make sure John McCain is elected in November. Why is Obama only 4 points up? 4 points up is NOT ENOUGH. Anything less than 10 points and the Repugs WILL steal this election. And believe you me, if McCain, with his anger management issues and his cognitive problems and his general overall dickness, is elected, we are fucked seven ways to Sunday.

7/13/08, 6:11 PM  

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