(Prosperity - Rebecca M Haggerty)
The weekly roundup, or, we read way too many papers (ok websites) so you don’t have to:
- That wacky Bernake. The Fed cut interest rates again this week, the second time in eight days and the largest cut since Bryan Adams ruled as the official prom slow dance king in 1991 (Everything I Do I Do it For You… which is probably how Fed Chair Ben Bernake feels right now about Wall Street). The market closed up for the week after some major jitters - which you probably also have if you’ve got money in stocks. Take a deep breath and repeat the following as many times as necessary: I am investing for the long haul. If it’s any comfort, everybody is freaking out. Read Business Week’s Ben Steverman’s funny-ish take on the whole issue here:
- Wouldn’t you like to be a stimulus too? This has been updated. Check out The Recap from 11 February for the latest.
- And now for a break from our soapbox . . . So when did the government get all, “spending-is-your-patriotic-duty-so-go-ahead-and-buy-those-new-shoes-you-deserve-them,” anyway? Here at Prosperity we say if you get a little windfall, pay down your credit card debt or save the money since you weren’t counting on it anyway. Not convinced? Read Sarah Hepola’s sobering piece in Salon about sneaky, and suffocating, credit card debt.
- Bad Celebrity Decisions Involving Money Alert. Actor Wesley Snipes was cleared of charges of federal tax fraud but found guilty of three misdemeanors after he stopped paying taxes and wrote a bunch of crazy stuff to the IRS.
He’s still liable in civil court for millions of dollars in back taxes. Don’t try this at home.
And finally don’t forget to vote in the Super Duper Tuesday primaries if you can! Our friends at citizenjane.com have this handy map to help you figure out all things about registering.
