Monday, November 17, 2008

Back At It

Back at the client this morning. No DSL at home so I had to wait until I got in to see what is going on. Not a lot of good news on the economic front this morning. I noticed on the video in the elevator that Citi is cutting another 50,000 jobs. Crikey! That's on top of the 10,000 or so they have already cut. One might begin to wonder what all those jobs were when they can be eliminated and Citi expects to still run the business.

The Eurozone is already in recession and now Japan is joining the recession club. We all know that it is doubtful that the US Q4 will manage to show any positive numbers so we'll be joing the 'official' recession club as well though we are really already there. On top of the GDP numbers are growing rates of consumer bankruptcy which in turn will trigger more problems for families, personal credit and housing problems. While I have mixed thoughts about bailing out Detroit, we have to decide just how bad we want things to get. How many jobs will disappear if the big three go into Chapter 11 which a lot of people think will just be the first step into Chapter 7 (liguidation). There is a huge pile of industries around the periphery of the auto industry and the impact will be enormous.

Looks like the Big Dog is coming to Georgia to stump for Jim Martin. Good for him. Early voting starts today in Georgia and turnout will be the key if we expect to dump Saxby Chambliss. It would be so sweet, not to mention another Senate seat.

Better get to work. You guys have a nice Monday. We are expecting our first freeze tonight so I will be out in the garden tonight covering tomatoes with sheets in an attempt to keep them going for another week or so. It really is silly to expect tomatoes from the garden in November but the challenge is fun. Just a few more home grown tomatoes would be great for Thanksgiving and a real gardening coup if I can pull it off. The average date of first frost in this area is supposed to be October 20th so I am gardening on the edge anyway.

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