Monday, September 15, 2008

Weekly Update

1. We had a pretty restful weekend, due in part to the fact that Hannah got sick Friday night and didn't feel like doing much Saturday. None of the rest of us got it, and we did lots of napping over the weekend. Not a bad deal...

2. My 10 year high school reunion is this weekend. We started planning this over 6 months ago. Can't believe it's finally here. Hope it ends up being fun. I'm a little nervous. Do people grow up enough to be friendly outside of their cliques?

3. Our small group is reading The Rest of God by Mark Buchanan this semester. Um, go get this book. Sorry guys, I think I'll actually be done with the book within a week or two. This is not over-achieving, this is demonstrating how badly I need rest!! Don't worry - I'll re-read the chapters when we actually get to them in the group. :)

4. Maeve - we're preparing for the bridal fair we're in on Oct 5th. Putting together a "look book" of our gowns with illustrations, having our logo readied for printing on a sign, having a sign made, printing pictures, bracing ourselves... What if we get like 20 people who are interested? Exciting, and a bit overwhelming.

5. The little weather thing on my browser says it's going to be 78 and sunny tomorrow. This makes me happy.

6. The sourdough starter is not working so well so far. That's probably partially because I keep forgetting to feed it every day. I also had missed the part about not stirring it with a metal spoon, so I had to start over. Other people have done this, so I'm sure it can be done.

7. Somebody, probably my husband, will have to explain to me what the deal is with the stock market today. I don't want to concentrate hard enough to figure out what it means.


  1. The stock market thing is a little difficult to explain. I can tie it all back to people spending more money than they make but it will take a few paragraphs. Here it goes...

    In the last 20 years or so, the US has developed a "buy now, pay later" attitude. It never used to be that way. Believe it or not, many of our grandparents bought their homes with cash. Today people covet other peoples stuff more than they ever have in our nations history. Just look at the ipod/iphone craze. If "what-you-get for what-you-pay" was all that mattered, ipods would be a joke. It is the most expensive way to listen to music available. However, Apple has masterful marketing that tells us the fact that ipods look pretty and your friend has one is all you need to know. That's just one small example. The same is true with homes, furniture, cars, etc.

    None of this would be hurting the economy if not for the fact that most people are buying this stuff on credit. They're convinced that they can't live without certain things because all their friends have them. They put them on credit and a few months later when life happens - a medical emergency, a lost job, etc., they miss a payment. Eventually, after this happens a few times, they can't get caught up. If it's a home, it's foreclosed on. The lender has to write off most of the debt. Lenders are doing this thousands of times, everyday. They can only do that so long before their business fails. When their business tanks, they call their loans. That means everyone, even the person who's been faithfully paying their mortgage every month, suddenly has the balance due. The Federal government has decided it cannot let that happen so it has taken over Fannie Mae and Freddie Mac, around 50% of the nations mortgages. Now, if anyone cannot pay their mortgage, the government will pay it, which is code for "the taxpayers will pay it." At this point, unless something drastic changes, our kids and grandchildren will end up paying off all these loans through taxes.

    The reaction yesterday on the stock market was because of news that many more lenders are in trouble. So, there's the stock market dive yesterday in a nutshell. :)

    People have to stop buying unnecessary stuff on credit, live within your means, and pay off their debts. That is the only way out of this mess.

  2. I recommend that you listen to the "This American Life" podcast called "The Giant Pool of Money". It explains the whole mortgage/credit crisis that has occured and why we are finanically where we are as a country.