Stepping Heavenward

He drew me up from the pit of destruction, out of the miry bog,
and set my feet upon a rock, making my steps secure.
Psalm 40:2

Worries That the Good Times Were Mostly a Mirage
Jan. 23, 2008

Annual income twenty pounds,
annual expenditure nineteen nineteen and six,
result happiness.

Annual income twenty pounds,
annual expenditure twenty pounds ought and six,
result misery.

~Charles Dickens, David Copperfield

Worries That the Good Times Were Mostly a Mirage

So, how bad could this get?

The recent financial turmoil has many causes, but they are tied to a basic fear that some of the economic successes of the last generation may yet turn out to be a mirage. That helps explain why problems in the American subprime mortgage market could have spread so quickly through the world’s financial system. On Tuesday, Mr. Bernanke, who is now the Fed chairman, presided over the steepest one-day interest rate cut in the central bank’s history.

Now, some worry, comes the payback. Martin Feldstein, the éminence grise of Republican economists, says he is concerned that the economy “could slip into a recession and that the recession could be a long, deep, severe one.” In Monday’s Democratic debate Barack Obama made the same argument: “We could be sliding into an extraordinary recession,” he said.

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Category: Miscellaneous

DITTO!
Last year (when the market was better) we toyed with selling our decent size house and seriously downsizing. Our stuff has started to own us instead of the other way around and it is harder to keep track of and put away! I wish we had. I constantly feel "house poor" since taxes are ridiculous here and only ever gets worse.

I know how you feel. Debt is such a stranglehold. We are working to reduce our "stupid, stupid stupid" consumer debt. I hate the fact that our cash flow completely relies on Kyle's paycheck without a cushion.

I am praying for you guys!
amlp311 - 9:35 AM - Jan. 24, 2008

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He drew me up from the pit of destruction, out of the miry bog,
and set my feet upon a rock, making my steps secure.
Psalm 40:2

Worries That the Good Times Were Mostly a Mirage
Jan. 23, 2008

Send this to a Friend - Post Comment

DITTO!

amlp311 - 9:35 AM - Jan. 24, 2008

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He drew me up from the pit of destruction, out of the miry bog, and set my feet upon a rock, making my steps secure. Psalm 40:2

Worries That the Good Times Were Mostly a MirageJan. 23, 2008

Send this to a Friend - Post Comment

DITTO!

amlp311 - 9:35 AM - Jan. 24, 2008

Recent Entries

Categories

Our Curricula

Homeschool References

Christian Links

Summer Reading

Homeschoolblogger Friends

He drew me up from the pit of destruction, out of the miry bog,
and set my feet upon a rock, making my steps secure.
Psalm 40:2

Worries That the Good Times Were Mostly a Mirage
Jan. 23, 2008