Grumblings and Silver Linings

I don't want to sound callous about the economic downturn and pain that it is definitely causing a great number of people, but some thoughts do come to mind as the cable noise machines start trotting out "personal interest" stories about folks in dire straights.

Noone wants to be the one to ask the pertinent questions -- except maybe Suze Orman -- about how they got to where they are.

Clearly, some people -- many, in fact -- have lived on credit for too long... and far outside what their REAL income should have allowed. It's a consumerism-driven trend that's been building for decades. (The same thing happened from 1899-1929, with similar results.)

But enough of the grumbling. Here's the silver lining (at least for me):

I estimate that my 401K will be worth 20% more in 15 years as I get ready to retire than if this downturn hadn't happened.

Why?

Because my contributions are going mostly to stock purchases -- stocks, like Chevron, that were trading at $90/share last year and are now hovering around $57/share.

Yes, I take a value hit on the portfolio right now (if I were to liquidate) -- but I am able to buy more shares (dollar for dollar) through my payroll contribution and company match. This gives me a premium that will really pay off as stock prices return to their historical P/E trends.

So -- I'm concerned, but not overly concerned. Cautious, but not fear-struck. That's a silver lining, as well.

Comments

Just Desserts: Double Peanut Butter Bars

This recipe takes the simple peanut butter cookie and "raises the bar"... with three layers: Peanut Butter Cookie on the bottom Rich peanut butter icing in the middle Topped with a chocolate shell Delicious and decadent! For the cookie base: Preheat oven to 350F. Grease a 9x13 glass baking dish. 1 1/4 cup sugar 1 tablespoon dark molasses 1/2 cup creamy peanut buter 1/4 cup shortening 1/4 cup butter, softened 1 egg 1 1/4 cups flour 3/4 teaspoon baking soda 1/2 teaspoon baking powder 1/4 teaspoon salt Prepare peanut butter cookie dough (per normal recipe) but do not refrigerate. Instead, spread dough evenly on the bottom of the prepared baking dish. Bake for about 15-18 minutes. Remove from oven and allow to cool completely. For the middle layer: 1/2 cup butter, softened 1/2 cup creamy peanut butter 1 tablespoon milk 1 teaspoon vanilla 2 cups powdered sugar In a small bowl, beat the butter, peanut butter, milk, vanilla...

60 Minutes & Chevron

I don't normally post stuff about work, but after watching the drivel on 60 Minutes last night about the "Ecuadorian" lawsuit against Chevron, I had to relay this: Images are of Petroecuador sites and are not Texaco-remediated sites: The images of oil pits, and oil operations in general, that “60 Minutes” used are of locations that are the sole responsibility of Petroecuador, Texaco Petroleum’s partner from the days of the consortium. “60 Minutes” knew this fact, but chose to ignore it in its reporting. No responsibility was placed on Petroecuador: Petroecuador has been the sole operator of oil fields in Ecuador since 1992 and has compiled a well-documented record of environmental mismanagement. In addition, Petroecuador has repeatedly stated that it is responsible for the remaining cleanup work that is required in the Ecuadorian Amazon and it readily admits that it has not cleaned up the sites allocated to them under the remediation action plan 15 years ago. Again, “60 M...

Promise? What Promise?

from the NYT " The Caucus " blog... "A gaggle of sign-waving protestors milled around outside The Beverly Hilton, the sprawling hotel on Wilshire Boulevard. They must have caught the president’s eye when he arrived at the hotel from an earlier stop in Las Vegas because he relayed one of their messages to the crowd. 'One of them said, “Obama keep your promise,’ the president said. 'I thought that’s fair. I don’t know which promise he was talking about.' The people in the audience – who paid $30,400 per couple to attend – laughed as they ate a dinner of roasted tenderloin, grilled organic chicken and sun choke rosemary mashed potatoes." Feel free to take this image and put it on your blog -- or even on a poster or t-shirt. Just do me the favor of linking back here and/or putting a link to your blog (or a picture of the graphic in action) in the comments. Thanks!

Administrativia

Search This Blog