Comments on: Reflections on a Sinking Economy

By: Recession Fears? Don't Let The Whingers Get You Down

Recession Fears? Don't Let The Whingers Get You Down — Sat, 20 Sep 2008 07:14:28 +0000

[...] Brad Shorr pointed out in “Reflections On A Sinking Economy”, business is cyclical and these downturns seem to last for so long that folk forget all about the [...]

By: Brad Shorr

Brad Shorr — Fri, 19 Sep 2008 11:22:06 +0000

Jean, I heard a commentator say last night that if a buyer doesn't know how to value an asset, he or she will tend to value it as worthless, which I thought went a long way to explaining why some of these financial stocks have plummeted toward zero. Thank you for the article link. It's very informative. Brad Shorrs last blog post..Guest Post on Wired PR Works - Why No Humor?

By: Jean Browman--Cheerful Monk

Jean Browman--Cheerful Monk — Fri, 19 Sep 2008 03:10:55 +0000

A big part of the problem, besides too many people living on, and gambling with, borrowed money, is the debts were all lumped together so there’s no way of knowing which debts are backed by solid assets. See http://online.wsj.com/article_email/SB122169431617549947-lMyQjAxMDI4MjExODYxOTg0Wj.html

Jean Browman–Cheerful Monks last blog post..Touching Hearts and Changing Lives

By: Talking Story with Say Leadership Coaching

Talking Story with Say Leadership Coaching — Fri, 19 Sep 2008 01:23:44 +0000

Financial Literacy Has Never Been More Timely…

Have a meeting coming up and need to fill a hole in the agenda? Bored with the normal fluff around the water cooler or when escaping to the coffee place down the street? Thinking about turning the television off tonight…

By: Jean Browman--Cheerful Monk

Jean Browman--Cheerful Monk — Thu, 18 Sep 2008 19:46:31 +0000

It’s not only fear that is dangerous. It was the irrational exuberance that preceded it that said housing prices will always keep rising so we don’t have to worry about borrowing money to buy houses. The rising prices would wipe out our debt. And what about all the people who borrowed money on their equity..houses were a magic money-making source. Why not live it up?

By: Brad Shorr

Brad Shorr — Thu, 18 Sep 2008 19:22:56 +0000

Jean, It's the volatility that scares me more than anything. Right now, fear rules, and that is always dangerous. Thank you for pointing us to those posts - apt reading under these circumstances. Brad Shorrs last blog post..Guest Post on Wired PR Works - Why No Humor?

By: Jean Browman--Cheerful Monk

Jean Browman--Cheerful Monk — Thu, 18 Sep 2008 18:15:45 +0000

Brad, No, we don't feel a sense of relief. I disagree with Cathe, we could end up with a worldwide depression. That might not be the end of the world, but it would be the end of the world as we know it. My husband and I know too much history...times could get very hard indeed. Yes, business is cyclical, but so are hurricanes. You can do the best you can, but there are no guarantees. My strategy isn't to ignore the news, it's to practice the traits of stress-hardy, resilient people. It gives me something constructive to do. It's something I have some control over. See also Life As a Shared Adventure. Jean Browman--Cheerful Monks last blog post..Touching Hearts and Changing Lives

By: Brad Shorr

Brad Shorr — Wed, 17 Sep 2008 21:18:54 +0000

That's good, Jean. You must feel a sense of relief in times like these. My suspicion is many people have been similarly prudent, but it's amazing how recklessness on the fringes has led to such widespread disruption. Brad Shorrs last blog post..Reflections on a Sinking Economy

By: Jean Browman--Cheerful Monk

Jean Browman--Cheerful Monk — Wed, 17 Sep 2008 21:17:03 +0000

My husband and I knew long ago something like this would happen. Business magazines talked about the dangers of sophisticated financial devices like derivatives years ago. And it didn't take a genius to see that most people were living beyond their means, which is one reason housing prices went through the roof. My husband and I have always been savers, so we do try to keep informed about what's going on so we have a better chance of making intelligent decisions. We're responsible for our own financial future. Jean Browman--Cheerful Monks last blog post..Touching Hearts and Changing Lives

By: Brad Shorr

Brad Shorr — Wed, 17 Sep 2008 18:22:01 +0000

Joanna, No matter what happens with the election, things are going to be different, that's for sure. Karen, the financial mess seems to be affecting people at the very top and the bottom of the economic ladder. Very odd. Cath, good for you! I can't help but watch the news when something major happens, but generally speaking, I prefer watching House reruns or actually doing something productive. Brad Shorrs last blog post..Reflections on a Sinking Economy