10 Things I'm Worried About

I woke up yesterday morning and found myself paralyzed. I lay in bed and couldn't move. I didn't even know what I was worried about, I was so worried. Eventually, I got myself up, shaved with trembling hands, and made my way to the office. I got to my desk and read the headlines. Then I really couldn't move.

A steely hand wrapped its skeletal fingers around my windpipe and would not let go. "Eek," I said, since it was the only thing that would emerge from my ratcheted esophagus.

All day yesterday I sat here in a cold sweat. Now I figure, what the hey. I can't be like this forever. Perhaps if I articulate what's got me so freaky-deaky, it will pass. Or not. Either way, it'll be better than this emotional and professional rictus.

Here's my list:

1. Fannie Mae and Freddie Mac. I never really even knew how important Fannie and Freddie were, but their collapse, or even, like, if they got a cold, would possibly force the Federal Government to lose its credit rating. Think about that for a minute. No, on second thought, don't.
2. The Bank of America: (BOA) Earnings were down. More losses are being reserved against. Deeply disquieting.
3. Other banks. We all saw what happened to Bear Stearns (BS) in two or three days. Once the whispering campaign got started, their goose was cooked. Now every day I hear from the newspapers and the online writers and the bloggers and the guys getting soup across the street and nobody has a single thing to say except, "What's up with that billion/trillion/gazillion dollar bailout?!" How long before we all make it happen?
4. Saturated fat: Up until recently, I was pretty much saturated with fat. Now I'm less saturated, but I'm not completely unsaturated yet and I get a sense that if I don't get there soon I may not have much longer to try. I got some ideas from Michael Pollan's excellent book, In Defense of Food, which basically says we should "Eat food. Not too much. Mostly plants." It's sort of working, except I'm still working out whether vodka can be considered a food. What do you think?
5. Global warming: I don't worry about it as much as I used to, because I have replaced 20% of my concern in this area with anxiety about Freddie and Fannie. I only have just so much capacity to freak out and then even I run out of resources.
6. Google (GOOG): I feel a little bit better now that their earnings were so impressive. But consider. If Google stops being the outer skin of the balloon, what else do we have to be inflated about? Things that have sort of gone by the wayside as a source of hysteria include: alternative energy sources, recombinant DNA therapy, cloning, robots, nanotech. We all need something to believe in, future-wise. What's that gonna be?
7. Ben Bernanke: What's he do for fun? What's it like to be Ben? When you have a glass of wine at a party and Maria Bartiromo says, "How ya doin'?" do you have to think, "What will the impact be of my statement to Maria here, when all I'm really trying to do is get a smile out of her?"
8. China: Forget all the dubious stuff now under scrutiny from the nation, its army, arms dealers and toothpaste and heparin manufacturers. How about the reaction of the Chinese themselves to people and organizations that express opposition or even mild criticism of their various ventures? Boycotts! Censure! No more business for you! Sure, that's their right, but a worldwide economic war between China and its allies and everybody else would be something to keep us all up at night.
9. The dollar: I can say no more.
10. Fannie Mae and Freddie Mac again. The article raises the specter of a trillion dollar buyout, which might drive the credit rating of our nation itself down a notch or even two. The pundits in the posting do say that such a thing is unlikely. But if it's so unlikely, why mention it? Why scare everybody? When one knows the power of even the slightest negative wind to move markets and crash enormous battleships of enterprise? Why bring it up? Why put a headline on it? Why publish it at the top of the page?

You know what? When bad stuff happens, let me know. Until then, I'm going to try to remember some things: It's spring. We're alive. And bonds are still doing okay. I think.
comment 7 Comments |

Comments

[nammy50]

In the 60s, 70s and 80s the nightly news did not lead off with news from Wall Street the way they have since the early nineties. In those days we had a manufacturing base. we were not up to our balls in national debt and we did not rely on the financial services industry to drive our economy.

Like the British before us we have forgotten what made us great. The British Empire stopped building ships and started insuring them instead. We have taken the same road.

Pushing someone else's money around is not an industry.

[dadw5boys]

You should live in fear that if the Privatize your water sytem that you might not live in a wealthy enough area where good water or even enough water will be avaible to you. That even the fire hydrants would work if your not in a wealthy enough neighborhood.

Look what happened in Alanta after Privatization of their water system!

[lastyellowdogintx]

Vodka = potatoes. Definitely food.

[dadw5boys]

Fannie mae, Freddie mac, F H A all would be shut down like a Liberial Mag. bought and shut down by the right wing to stop the flow of good information.
NANO TECHNOLOGY?? It is least 15 years away maybe more! But once it is figured out a computer can run the whole process so few humans will actually get jobs.
Vodka is food for the soul in varying amounts depending on how many times a Christian overcharged you, cheated you, lied to you or envoked God when you complained about the service or the price. "THATS NOT VERY CHRISTIAN OF YOU" !
Why bailout Bears and Sterns? The Managment all took Stock Options for doing such a great job they must have had it all figured out before they collasped under the weight of their own bullshit.

Goggle well who really cares.
Now China I have to defend. The west had it's chance to make China a freidns in the 1860 but chose to make her stand off by forcing China to allow the sell of Opium so the British could buy Tea without going bankrupt.

The dollar is acting strange. For the Sount American free trade to work the value of the dollar must be near the value of those other countries.
Now Fannie mae is needed to provide low cost student loans and kids are going to need them because after LEARNING THE BASIC'S UNDER NO CHILD LEFT BEHIND THAT IS ALL THEY KNOW!!!!!!!!

[bmora]

I am surprised the 2008 election has not made the list. Most if not all of your concerns could hinge on the outcome in November.

[RabidRightRebel]

You clearly have not been listening to McCain. He says it is mostly pychological and things are actually quite good. Mind you he has a wife worth 100 million.

Ignorance is bliss!

[Aaror]

remember, this is his second wife. His first one pined for him the whole time he was in the POW camp, but he dumped her once he got out to get a better (read, richer) model.