I don’t think you’ll find a single person in this country who would disagree that we’re in desperate times and need desperate action to stop the downward spiral of economic meltdown we’re experiencing.  Pumping billions of dollars into the American economy seems like the prudent course of action to curb the problem, but does the current bill really give enough bang for the buck?  I’m not convinced it does.  With each American worker getting tax cuts that equate to roughly 8 dollars a week, I fail to see how that’s going to jump start consumer spending.  American’s are struggling to keep their homes, pay for gas, and simply put groceries on the table.  8 dollars a week doesn’t seem to cut it;  especially for the enormous tax burden we’re about to place on future generations (our kids and kids’ kids).

Perhaps I’m wrong and 8 dollars a week will have a dramatic impact on our economy.  In fact I hope this stimulus package has an immediate influence on consumer spending and we begin to rebuild what’s been lost over the past 12 months.  Only time will tell.

What do you think, is 8 bucks a week enough?

ShareThis

After hearing how high Obama’s approval ratings are, I immediately thought about how low his predecessors had fallen.  When Bush left office he had a rock bottom approval rating under 30%.  I don’t think this is a secret or a great surprise to anyone, however his prior popularity probably is.  If you take a look at this Bush Approval Graph produced by the University of Minnesota you can see that Bush actually had similar popularity numbers compared to Obama’s recent numbers.   Bush actually had a 90% approval rating after 9/11 and above 70% at the start of the war in Iraq.  It’s amazing how quickly approval ratings can turn, especially when Presidents don’t deliver on promises.

I believe that the majority of the country is in full support of our new President, including myself, however I wonder how long that support will last.  Obama has an extremely full plate going into the job and the media has built him up to sky high levels.  Furthermore Obama ran a campaign full of promises to “Change”.  The next 6 months are going to prove critical to our country and this President.  I hope that his approval ratings stay at 80% and he delivers the spark needed to jump start our economy.  Only time will tell.

What do you think, Will Obama’s approval ratings soar or crash in 6 months?

ShareThis

Less then 2 years ago our country was sitting on top of the world.  Our economy was booming, the stock market was at an all time high, unemployment was extremely low, and things seemed to be going relatively smoothly.  As we all know that isn’t exactly the case today.  Much like the Cardinals in the NFL, much of the world has written off the US including people within our own borders.  Without a doubt we are facing great adversity and many of our “all-stars” have found a spot on the bench with injury.  But now is not the time to punt.

What we need is a strong 4th quarter rally and make another charge for the championship.  I think that the Cardinals are a great ralling talking point portraying the kind of teamwork and never give up attitude our country needs right now.  Tomorrow is a big day in American history, perhaps its the start of 99 yard drive back to the endzone.

ShareThis

I’m not going to say that Bush is one of the all time great Presidents we’ve had serve our country, but I’m not about to start throwing stones and call him a failure either.  Much of what’s happening in our economy and country right now can be blamed on many people not just Bush.  The last time I checked our president wasn’t in charge of regulating financial markets, furthermore in charge of policing peoples spending habits.  With the past 20 years of deregulation, I would argue that Bush happened to be in the wrong office at the wrong time.  Sure the writing was on the wall that our economy was heading into a tail spin months ago, but very few economists predicted anything like what we’re experiencing today.  The share of blame goes much deeper then the white house and Bush isn’t solely at fault.

Do you think that Bush is to Blame or does it much further then him?

ShareThis

If you’re like me then you get the majority of your news online.  One of the biggest reasons I like to use this media outlet is because of all the free content available.  Actual news print isn’t exactly expensive, but during the current economic meltdown every penny adds up.  Another great aspect of online media is the social interaction.  If I read a newspaper in my living room at 9pm, it’s pretty difficult to discuss the story with people.  If I read that same article on the web, there’s literally hundreds if not thousands of people who are chatting about the topic.  When the recent news of print publishers going bankrupt was released I wasn’t exactly surprised.  Technology has progressed in leaps and bounds over the last 10 years and those companies which don’t adapt are quickly left behind.

Do you still read the traditional newspaper or do you get the majority of your news online?  Did it the recent news of struggling print companies come as a shock?

ShareThis

I think that the majority of Americans are in aggreeance that we need to come up with a plan which will jump start this economy.  I’ve yet to meet one person who’s happy about hearing of a friend or family member that lost their job.  Furthermore, each day I come across more and more people who are fearful that they may be the next to get a pink slip.  I truly hope that the plan laid out by O’bama brings us out of this funk quickly and builds a foundation of sustainable growth; but is the plan a day late and a dollar short.  Where do we plan to come up with the massive price tag put on the plan?  Spending government money with a large congressional credit card doesn’t seem very viable in my book.

Recently I heard someone say that the only thing worse then moving forward with bailouts and a stimulus plan is not doing anything at all.  Do you agree with this and is the stimulus plan to little to late?

ShareThis

If you follow this blog on a consistent basis you’re very familiar with my addiction to the Wall Street Journal.  Recently they ran an article which depicted a well known Russian professors’ prediction that the U.S. will disintegrate in 2010. I for one believe that the idea of our country collapsing within the next 2 years is absurd. I do believe, one can make an argument that there’s many unsustainable paths we are headed down.  Some of which, without going into a 500 page novel, include dependency on foreign oil, dependency on credit, skyrocketing health care costs,  free falling home prices, etc.  If some of these issues aren’t addressed in the near future, our road to propriety and growth will continue to be put on hold.

Clearly we have a ton of work ahead of us a country, but at the end of the day what makes the U.S. great is everyone of us, the citizens.  We have been in tough times before and found a way to persevere; we will find our way again.
I’d like to know what you think; do you believe the U.S. is headed down a path of unstoppable failure?

ShareThis

Clearly retail sales have taken a beating during the past holiday season, but it still amazes me every time I walk into Best Buy or Target and see the long lines and crowds of people. I’d be willing to bet that many of us have lower budgets this year when shopping at these places, but there’s still massive amounts of dollars being spent on gifts.  I was looking for a Ninetendo WII for my wife and couldn’t find one;  they were basically flying off the shelves.  After learning about the recent shortfall that’s sweeping across the charitable community, I couln’t help but feel a little guilty for spending much more then giving this year.  Furthermore I couldn’t help but question our overall giving philosophy versus buying philosophy in our country.

Did you spend much more then giving this year?  With the current economic climate do plan to give less to charity in 2009?   Let us know what you think about charity in general or your recent giving habits in the comments below.

ShareThis

• Who Invests in 0% Interest T’s? - by Gen X Finance
  I heard this headline earlier in the week and wondered who in their right mind would invest in something that pays 0%.  Well, Jeremy over at GenXFinance does a great job at explaining the who, what, and why.  Guess 0% isn’t so bad after all.
• A Fish Called Cat Food: Regiftmas Special - by MoneyGrubbingLaywer
  This is a pretty funny article addressing the long standing question, “Is Regifting OK?”.  I was originally drawn to this blog by the name, as I thought it was unique and funny, turns out there is also some great posts!
• 8 Ways The Economic Crisis Can Be Good For You -by FreeFromBroke
  With all the negative news we read about day in and day out with respect to the recession it’s nice to see a positive spin.  These 8 points might not make the pain of current economy go away, but they do help the pocket book.

ShareThis

Over the past couple of weeks we’ve seen some dramatic events and layoffs take place throughout the sports industry.  The National Football League recently laid off a 150 employees, and it’s no secret that ad sponsorship could slip drastically come time for the big game in early Feb.  Professional Golf has a large number of bank sponsors, who more then likely will be finding it difficult to bring the same ad and sponsor dollars to the table.  Then you have NASCAR which is right in the middle of the auto industry which is experiencing a meltdown in Detroit.  All of this leads me back to an article,  Are Pro Football and Pro Baseball Next To Fail?,  I wrote aprox 2 months ago.

I truly hope that the economy makes a turn for the better sooner than later.  Not just for professional sports sake, but for the country as a whole.  Entertainment typically does well during periods of economic distress, and despite all the negative new, on the bright side we might start seeing some lower ticket prices.

Just for fun, if you had the choice who would you rather bailout, Pro Sports, Big Banks, or The Big 3 Autos?

ShareThis