Thursday, September 18, 2008

Looking outside my bubble

Even in my little bubble I've been hearing some news bits. There seems to be a financial crisis happening in the US. All of a sudden it seems that a bunch of these huge financial companies are going bankrupt or being bailed out by the US government. I think it's related to the crazy housing market in the US, including sub-prime mortgages. The US government just bailed out AIG over the weekend... and I think they bailed out Fannie May/Freddie Mac (mortgage companies on the verge of bankruptcy) a little while ago, too. They let Lehman go bankrupt, though. How many other companies could be affected, here?

I just read an article that said that someone was predicting that the US would only be in a recession for a year because the banks will be bought out or merged and that the banks won't be allowed to fail. I hope that's true. If a bunch of banks or other financial institutions start collapsing with no government or industry assistance, I don't think it'll just be a recession that happens to them. And I hope that no Canadian companies or banks will be caught up in this mess, because then we'll follow right along with the US.

Maybe my bubble is a better place to be.


Darling Jee said...

Is there space for me in your bubble? I'd rather not think about my thesis ever again and I'm not ready to go back to work. In fact, I feel like retiring and becoming a lady of leisure. Does a lady of leisure living in a bubble sound totally eccentric?

Chantelle said...

Oh yes, there's plenty of room in my bubble. C'mon in!

Personally, I'd love to be a lady of leisure (and we all know that ladies of leisure get to exist in a bubble!). I don't think it's eccentric at all.