Monday, November 24, 2008

Another week, another bailout and other news

We wake up this morning to find another huge amount of money going to shore up Citibank. 25 billion here, a 100 billion there, hundred of billions of guarantees elsewhere! Why do these crises always seem to occur and supposedly get resolved over the weekend? I remember from a history class of long ago that in the late 30s, Hitler did many of his actions, such as invading countries and breaking arm treaties, on Friday afternoon. He knew that by then, members of the English parliament would have all retreated to country houses. By the time they could reconvene and address the situation, they’d be reacting to “old news.” I know they are saying they need to have these bailouts in place before the markets open, but I wonder sometimes if it’s easier to pull the wool over our eyes on the weekend.

It snowed today and that makes me happy! It’s a big difference from a week ago when I was enjoying warm weather on the Carolina coast. The picture is of the new Johnny Mercer’s pier on Wrightsville Beach. The old Johnny Mercer’s Pier was like the Kure Beach one, with wooden pylons. Every time a storm came through, a bit more of the pier was washed away… This one is built of concrete and is said to be capable of handling a 200 mph hurricane. We'll see.

I woke at 1:27 AM this morning in the middle of a terrifying dream. Although I often dream and even write about them, and some of them are really weird, as a general rule they're not nightmares. This one was an exception. The dream started out pleasant enough. I was going home, but someone warned me of a voodoo threat for the bridges I'd have to cross. I laughed it off and headed toward my truck, when I found myself attacked by something I couldn't see but could feel it compress around me and I fell down screaming in pain and praying for deliverance. It took me while to get back to sleep. Any of you folks doing voodoo on me?

I’m working on some more memoirs that I hope to start postings by midweek. I’ll need to take a break away from any Thanksgiving preparations I have to make (dinner will be at someone else’s home, so I won’t have to worry about a turkey).


  1. Beautiful photo.

    We got snow here too. I love the first snowfall, but after that... I'm sending it across the lake to you!!!!! :)

  2. Voodoo? Ha lol! :) well, I just gone to Ed Abby's and pushed him over the edge, does that count as practicing voodoo? If yes, I can push you over the cliff too, and save you from doing Thanksgiving dinner preparation! :)

    The weather here has gone up to 70 last week, toasty, as if apocalypse was coming, so the ski season won't start this Thanksgiving. The top picture is nice indeed, the composition is good. I still like the blowfish picture though. Even my niece likes it.

  3. Memoirs? Wonderful!

    Snow? ICK.

    Beach and pier? Terrific!

  4. Funny how Citibank was only a month ago suing for the right to buy out Wachovia and now they are in hock to the government. I heard tonight on the news that the U.S. has promised to guarantee 7.2 TRILLION dollars in bailouts in total so far. I don't want to know how many zeros that is.

  5. Okay, I confess, it's me...I'm doing santeria on you. ;)

    Actually, I'd be curious to read your memoirs.

    Beautiful photo, btw.

  6. TC, we still are a long ways from having enough to ski

    MH: I get complimented? Wow, I'll have to go see how you pushed Ed over the edge

    Kenju, ya'll got some snow in Raleigh, didn't you?

    Ed, It's amazing!!!

    Scarlet, It's you, and I was blaming it on Mother Hen.

  7. I thought Johnny Mercer was from Savannah?! At least they seemed to make a big deal about him in 'The Garden of Good and Evil'.

    I'll admit..I had some pull in this last bailout. I told Hank that since my mortgage is through Citimortgage, he needs to give them some money pronto. Didn't know I was this influential, did ya?

  8. I mean, "Midnight in the Garden of Good and Evil"...or something like that. Crappy movie. Decent book.

  9. No Voo Doo here. Sage I think you brought this awful cold weather with you. It went from 70s to waking up to a pleasant 16 after your visit.

  10. Haven't been doing the voodoo thing...I think you're right though, it is easier to pull the wool on weekends.

  11. I think bailing Citibank out was wrong on so many levels. Where has the bailout money been going after financial institutions received them? Wasn't Citibank among those institutions? What did they do with their bail out money?

    How do we regulate when the people currently in charge are Reaganites?

    Why did Obama have to begin working almost two months before the inaguartation? There's a reason a president is president elect. He needs to construct a cabinet and learn the job

    But the current president announced last week he would do nothing so that sort of forced Obama's hand

    Somebody close to me used to be a VP at Citibank for almost 20 years. He claims he will retire when he's 97 as he was lazy and didn't cash in his stock (retirement plan) until the crisis first hit

    At my first Thanksgiving this past Saturday my uncle announced that his much younger CPA wife will have to work until she drops as his plan is worth very little--and he was head of a large CPA org

    I'm against the bailout in principle but if it helps the economy then I would be for it

    I don't see it helping yet and don't have much faith in them actually using the bail out money to help in the future

    I'm finding it progressively more difficult to blog as I have always used my blog to get things out so I don't have to in real life but I don't want to lose the little good will I have left on this subject

    Thanks for giving me a place to rant

  12. Appalachian: You got it!

    Murf: I've read the book, didn't see the movie. I'm pretty sure it's a different Johnny Mercer--the one you're talking about is a songwriter. BTW, I'm sure if Citibank crokes, they'll be a new address for you to send in your payment.

    Deanna, it was in the 70s when I was there!

    Kontan, glad to know you and Deanna aren't guilty!

    Pia, feel free to rant on!

  13. The financial crisis is giving lots of people nightmares. Its dimensions are unfamiliar, and so much of it seems just wrong. It's seeping into the national subconscious.

    I'm not inspired by the government's response. I'm optimistic, but I've never seen an administration so hot to get out of town, cash fluttering like confetti in their tailwind...

  14. I love that picture with the little sandpiper trotting along.

    I agree with Joe. Your nightmare probably has to do with the unfamiliarity of our current highly disturbing financial conundrum.

  15. Thanks for the tile advice Sage. I saw tiles that look like leather, linen and even wood

    As I don't seem to be able to blog anything of note--am trying to write and find myself making mental lists as I want to renovate by March--I might use my blog for home improvement tips