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Beau's Journey » Blog Archive » January 15, 2009: Market sell-off continues
Thursday, January 15th, 2009

January 15, 2009: Market sell-off continues

  Bank stocks continue to collapse today.  Incredibly low prices on some of these stocks.  Sort of scary.  Looks like Citi might end up being bought out or not making it?  Who knows anymore.  Bank of America stock has collapsed.  Huge quarterly losses for a lot of banks and companies.  Looks like the DOW is going back down into the 7000’s.  Going to test new lows?  Looks that way.

  Oil is down $3 this morning.  It is now in the lower 30s.  Incredible, since it was above $150 a few months ago.  A total collapse of the system.  Everyone better hope that Obama and the governments of the world can figure out a solution.  Otherwise, there are going to be millions more lose their jobs or worse.

  I was against the TARP from the beginning.  I thought it was a total ripoff of the American tax-payer.  Now, we all see that the money has simply disappeared.  There is no trail.  Nobody is accountable for it.  The government has created an even bigger mess.  It is a total disgrace.  Now they want to spend TRILLIONS more?  Give me a break.  They are going to run this country into the ground and then some.

  I predict this mess will cost us between 10-15 trillion dollars.  I know the government won’t ask for more than a trillion here and a trillion there.  Mark my words – you are looking at 10+ trillion from the tax payers.  We will never pay this off.  Ever.

  Very cold in Paducah this morning.  Temperatures were actually colder than forecast.  We dipped into the 7-8-9 degree range here in Lone Oak.  Bitter cold!  I would love this cold weather if it had a dash of snow with it.  😉  No secret there.

Paducah temperatures this morning – you can see under AIR what the temp was.  The
airport reported 7 degrees as a low.  It will be even colder tonight!




  We are meeting with the foundation guys tomorrow – early afternoon.  Going over everything one last time.  We are then planning on staking off the property on Sunday.  Work begins Monday.  That is what I am told.  I guess the ground will be good and frozen by then?  Looks that way.  So, maybe the mud won’t be too big of a deal?  I guess that depends on when the concrete trucks get there.  IF we don’t warm up next week then perhaps it will be okay.  I sure hope so!  I am more than ready to get started.

  Sort of a scary time to be building.  Scary time to be doing anything with the financial markets like they are – and everything else.  This is a project in motion, though.  What can you do.  You have to keep moving forward.

  Hopefully things get better for everyone involved.  Lot of people without work.



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