Random Thoughts: News of the World and Debt

Debt!!! How I hate thee!

Believe that is a direct quote from Shakespeare, but I stand to be corrected. Yes, I have spent a great deal of this week making up metaphors and analogies about Debt and such, but other things have been going on in this wacky old world of ours (in terms of finances especially). The U.S. continues to discuss who must call Amex to get their corporate card’s credit limit raised (i.e. increasing the Government’s debt ceiling). This could be Obama’s Achilles heel because the Republicans are playing this off like someone who is in debt asking to raise their credit limit (which resonates too well with folks in the U.S. in that exact predicament).

More seriously nasty stuff going on in Greece with their credit fiasco as well. This could have some ripple (read possible tsunami) effects on the world’s economic situations. Lots of governments throughout the world could get hurt if Greece goes down on this one.

In outer space the shuttle program completes this coming weekend, it will be interesting to see how the Americans react to the Chinese taking control of the space race.

The News of the World is shutting down? Where will I read the trashy, badly researched, inuendo laiden copy that they gave me every week (and topless women)? Never read their personal finance section, bet it was chocked full of great advice as well.

Yes, a lot of debt chat this week, I must admit, not sure what may have inspired me, but still some of it is kind of fun:

• On Saturday I went off message (somewhat) with the very interesting video from our friends at PBS The Six Million Dollar Man talking about the growing science of bionics. Will we have a Steve Austin within our lifetime?
• At the start of the week I wrote my most read article ever (in one day) What does the 4th of July Mean? with a staggering 10 times the normal number of readers. I have no explanation as to why, but it was fun to watch.
• I found a terrible post on line that seemed to be espousing Build up debt while you are young? which made me see red. I can’t believe anyone would even jest about that kind of dangerous advice.
• Continuing on with my Debt theme I then asked is there a time when you don’t pay down debt? You would instead build up an emergency fund (not go out and blow it all on moon pies and penny whistles).
• Following up on an old post I clarified a statement I made previously about how Debt is like teenage sex, no I did not say everyone talks about it, but nobody does it right (but that is an amusing view on that analogy).
• Random Thoughts: Happy Canada Day! is a recap of last week’s best articles.

I actually enjoy all comments (even the ones that question my sanity), and will try to respond to most comments, so please feel free to comment away. For you spammers who continue to inundate me with your drivel, keep it up as well.

With the European economic system teetering on the brink of collapse, and the U.S. looking for more credit, there were plenty of interesting discussions from our favorite Financial Bloggers:

• Preet has Resigned from his Day Job, Doing TV Appearances but still not a Financial Advisor, and we wish him luck with his future endeavors. Preet is a good guy in my book and infinitely patient with my dumb ass questions whenever we get a chance to share  a beverage or two.
• Gail Vaz-Oxlade asks the tough question You Spent What? Where she points out the monies spent on various things and how our disposable income might be used in a better way (well she implies that).
• Michael James tries to clarify a few Bond Misconceptions out there, but it can be confusing to deal with something that most folks seem to think is a safe investment.
• Million Dollar Journey points out a few more Little-known Canadian Benefit Programs for Disablities, interesting and useful stuff for those with disabled loved ones.
• Canadian Capitalist points out that Dave Chilton aka The Wealthy Barber is returning Soon, hopefully to straighten a few folks out about why they are in such a financial mess.
• The Canadian Couch Potato wants to know Will Rising Rates Really Clobber Bonds? Maybe not clobber, but it might make for a very rough ride for a while.
• Larry MacDonald would like to Stop the Housing Bubble before it’s too Late, but given folks love of speculation and making the quick buck, it may be too late for his advice.
• Our old friend Jim Yih asks the timeless question Will Real Estate Prices Boom or Bust? The answer is as usual not obvious and depends on a lot of things.
• Boomer points out a topic I love to hash out with folks When Needs are Actually Wants, I think I NEED a convertible sports car, but it ends up being a WANT, unfortunately (unless I keep getting readers like I did on the 4th of July that is).
• Evelyn Jacks points out what I did last week as well, Inflation Rate Triples, which is never good news.
• One of my favorite non-financial web sites has moved Cocktail Party Physics is now over at the Scientific American site, so kudos to Jennifer for this move!

Carnivals this Week

I did make it into a few carnivals this week too:

• Tom over at Canadian Finance Blog hosted the Canadian Finance Carnival #43 which included my post Yikes: CPI hits 3.7 and gas to blame
• Prairie EcoThrifter hosted the Carnival of Personal Finance #316 – Family Edition which made my post What is your FInancial Plan B? as an Editor’s Choice, kowabunga!
• Financial Highway hosted Money stuff my dad says, which included my Dad’s parable about money.

Remember

“Anybody who believes that the way to a man’s heart is through his stomach flunked geography.”

Author: Robert Byrne (must be talking about his wallet?)