My toothbrush. The bag of books I saved all year to read on vacation.
Oh, and power steering fluid. I developed a sudden need for this while I was gone. It’s been so long since I had a car that broke down all the time that at first, I didn’t recognize the sound. All I knew was that it was late at night, I was driving home on a dark, rural road, and my car was making horrible loud moaning and thumping noises. (I really hate that.) Fortunately, it was no big deal — but it made for a tense ride.
And I’ll be easing my way back into this blogging thing. (You know it’s bad when you have an anxiety attack on your way home, but whatever.)
All along Interstate 40 I have been cursing the motelscape. The inedible sludge of reconstituted egg, “biscuit” and gravy that allows them to advertise “hot breakfast” – the coffee weak enough to read the Wall Street Journal’s markets pages through.
Reynalds takes me to a line of cheap motels right by the interstate where rooms are $29 (£18) a night. “These places fill up in the first two weeks after the benefit cheques are paid and when they run out, they empty out and people drift over to Joy Junction.”
Now I see the cheap motels in a new light. This is where America’s hidden homeless live.
Worth a read.
14th, or default?
What’s your guess?
ETA: Credit Suisse is saying 50% chance of a credit downgrade, even if the debt ceiling is raised.
If it isn’t, global recession centered in US.
It’s not a “crisis” when it’s completely manufactured.
Jul 29th, 2011 at 10:42 am by Brendan
Pulling all that money out of the economy during a downturn is not a desirable outcome, Toomey said, but ultimately not all that bad.
“It is very disruptive, I don’t think it’s going to have an adverse impact on the economy for the days or weeks or perhaps even months that this would continue,” he said. “I doubt it would be that long. I doubt that it would be disruptive to the economy per se. But it would be disruptive, certainly, to the people who are accustomed to and relying on the programs that would necessarily be cut.”
Global markets recoiled on Friday after U.S. lawmakers failed to break their debt-ceiling deadlock, raising concerns that the world’s largest economy could heading for a default, and both Canada and U.S. posted disappointing economic data.
In Toronto, the benchmark S&P/TSX composite index plunged 153.64, or 1.18 per cent, to 12,894.14.
In the U.S., the Dow Jones industrial average sank 141.52 points, or 1.16 per cent, to 12,098.59 while the Nasdaq composite index dropped 40.54 points, or 1.47 per cent, to 2,725.71.
Overseas markets were also lower on Friday. London’s FTSE 100 index was down 89.52 points, or 1.52 per cent, to 5,783 at midday. Frankfurt’s DAX had lost 107.71 points, or 1.50 per cent, to 7,082 and the Paris CAC was down 76.38 points, or 2.06 per cent, to 3,636/28.
In Asia, Tokyo’s Nikkei stock average finished down 68.32 points, or 0.69 per cent, to 9,833.03 and Hong Kong’s Hang Seng index fell 130.49 points, or 0.58 per cent, to 22,440.25.
So when you’re watching your retirement savings take a nosedive over the next few days, keep in mind that Senator Pat Toomey, of Pennsylvania, says it’s no big deal.