Our Economy!

Now that Detroit’s Big Three need to submit a business plan to Congress who knows what will happen to General Motors Corp., Ford Motor Co. and Chrysler LLC. I don’t think they will have enough time to get this plan to them before Congress goes on their 2-month vacation, must be nice. The Dow Jones dropped almost 450 points. Making this week one of the worst it’s seen in many years. I would like to say that this bailout plan for General Motors Corp., Ford Motor Co. and Chrysler LLC. Is not a good idea? They need to do themselves out of this whole. I’m sick and tired of the Government handing out money to any big businesses out there. We also need to stop handing out money to banks; it’s not working. And what about people like me, who’s lost a lot of money in their 401k’s. First they destroy our economy, then our 401k’s, and now they want use to bail them out. Does this make since to anyone out there, because it makes no since to me. I say let them all fold, who really cares at this point. Our economy is in the trash and there’s no relief in sight. The White House isn’t an ATM!

Tags: Economy

Stocks Slide!

Wall Street is catching right up with the rest of the world’s stock markets. In other parts of the world stock markets are way down. In China there stock market is down 56% for the year. If we stay on the course we’re on we’ll be in the same boat. This is almost unbelievable what is going on. Our markets show a little sign of relief, and then out of nowhere it drops like a bad habit. The drop in the market is do to unemployment going up and poor reports from retailers. It seems that people are holding back their spending for back to school supplies. Based on these reports the Dow took a huge drop right out of the starting gates. Investors are pulling back until signs of the economy turn, which could be awhile. Things need to get better very soon or we’re all going to be in trouble.

Tags: Economy, Investing, Stocks

Target Profits Down!

I was a little surprise to read that Target Corp’s profit was down by almost 8 percent for this quarter. Discount stores usually fair well in hard times like we’re in. The only thing that could have caused this is people are only purchasing necessities. Necessities profit mark up is very low, and in some cases no profit is made. Discount stores like Target and Wal-Mart use necessities to get you in the store. And once your in the store you also pickup other more profitable products. Anyway, they still turned a profit when others are reporting loses. Wal-Mart on the other hand did very well with a 17 percent increase for this quarter. Target will also have an increase once they start discounting a little more.

Tags: Economy, Target, Wal-Mart

Credit Cards And Economy!

In times like this we all need to rethink our spending habits.  You should sit down and reevaluate your finances and investments.  One of the biggest thinks you should do is put away your credit cards.  You really don’t want to take on anymore debt.  Try to do more with less.  Think before you spend your money.  Stay away from the malls and anything you really don’t need.  I know what your say now; this will hurt our economy.  And yes, it may hurt the economy short term.  But it will also rebalance prices.  Right now the things you and I buy or so over priced it’s crazy.  And don’t worry about those stores and malls, their cash reserves are huge.  It’s time to take care of yourself, not everyone else.

Tags: Credit Cards, Economy