Sunday, October 26, 2008 -- camped in Winterset, IA
I've read the past few days that the credit crisis is easing and banks are starting to give loans again. Now that the economy looks like it's heading for the dumpster, the stock market is down 40%, and unemployment is rising fast -- the real trick may be to find someone who wants a loan.
Not only is the stock market down almost half, but plain old gasoline is almost half the price it was just a few months ago. How do investors in new energy technologies view this? Why would anyone invest in a new energy idea when the price off the old one is so volatile? How do you predict a return on your investment?
On November 5th, with any luck, we'll know who the next President will be. Once all the spending on campaign ads ends, there will have to be an impact on the economy. Is it possible to just stop almost a billion dollars of campaign spending and NOT have an impact on the economy?
If the majority of people in the United States lived like Dar and I do the economy would collapse and daily life as we know it would end. And I'm not talking about living in a bus-house. We have no loans or debt, spend very meagerly -- only buying what we need (and we don't need much), and just generally don't participate in the consumer-driven culture that's become the cornerstone of our culture. Since there's no chance we're going to change, I hope everybody else starts buying stuff again so we can get out of this recession everyone's talking about.