PETA Ad (and Economy)

As a man and a vegetarian I find this ad nice to look at.


Alicia Silverstone’s Sexy Veggie PSA
Order a FREE vegetarian starter kit at GoVeg.com

On another note there was an article in the WSJ today about how many people think that the Fed rate cut was the fed bailing out the idiots who took out the stupid mortgages. I'm not sure why they think that. Those people who's ARMs are just kicking in are still going to pay higher payments. The reason that they are defaulting is because the permanent rates kicked in after the teaser rates expired. The Fed cut may give them a bit more breathing room but it's not going to help all that much.

I am undecided on this issue. On one hand during the whole real estate boom I kept saying to anyone who would listen that ARMs and Interest Only mortgages were stupid and they would have foreclosures jumping in 2007 so it gives me some pleasure to see the idiots who went ahead and bought houses they couldn't afford anyway.

On the other hand I know a lot of those idiots and times are tough out there. I make a decent salary and have a reasonable mortgage but I still have a very difficult time making ends meet. The basic budget leaves us with $0 discretionary money each month, so every little pack of gum we buy either goes to debt or from savings.

I think the Fed was more concerned with hedge funds collapsing and banks going under than with the average joe-interest-only-mortgage. While I am undecided on the issue of the fed "bailing out" idiots and speculators (the latter should not be bailed out) I do think that the rate cut was a very good move as the credit crunch was threatening to freeze up global financial markets.