Recession…

Man.  I am soooo far behind on my blog, it’s making my head hurt. I could blame it on trying to get the podcasts out; coaching; the weather. Instead, I just think that a lot of things ganged up on me at once!  So!  I’m going to post a passel of blog postings, to get ideas out of my inbox (where I store them)… and away we go!!

Bernanke signals more rate cuts in testimony
Federal Reserve Chairman Ben S. Bernanke said during testimony to the House Financial Services Committee on Wednesday that the central bank would consider more interest-rate cuts. “He didn’t say the word recession, but if you read between the lines, all this talk about further downside risk is dealing with the risk we may already be in one,” said Scott Anderson, a senior economist at Wells Fargo. Bernanke said the slowing economy posed a greater threat than rising inflation.  ClipSyndicate/Bloomberg (2/27), Bloomberg (2/27), Washington Post, The (2/28), Wall Street Journal, The (2/28)

I heard this covered on KCBS right after Bernanke spoke.  The drive-time team was stating that he used wording that sounded “cautious” but in Fed-speak basically means The Economy Is BA-AAAAD.  Then they interviewed a number of economists, and what their “take” was about this.

One of the economists stated that the “first thing to go” would be “Brand buying” — and that folks would then “just feel poorer.”  That when folks aren’t able to “buy their Brands,” they feel deprived.”

Well, let’s start right here, Bond Grrrrrrls.  We know, right, that Bond Grrls are not “Brand Flashers”?  That’s the thing here.  Bond Grrls live amazing lives, and look great, NOT because they have Chanel on their glasses or Armani on their jeans… but because they are confident, chic, fabulous women all by themselves!

With the economy heading South per all the experts, it’s the time to take a look at your life.  If you have my book, you know that involves going through your ENTIRE house, office, etc. — and taking stock.  What do you have that you shouldn’t?  Can you sell it?  Can you put on a yard sale, or just start doing little bits of sale on eBay? If you itemize your deductions, how about getting some charitable deductions or giving away some of your possessions for a charity you love to auction off in a “silent auction”? 

The best part about this all (paradoxically) is that EVERYONE is going to be tightening their belts.  We keep hearing it/hearing it/hearing it — and so you can intelligently say that you are “paying attention to what the Fed is saying” (sounds good, huh?) and NOT go Mall-bopping or shoeshopping.  Open up all your bills.  Take stock.  Then use all this as an EXCUSE not to go and spend.  Because so many people are in trouble now, you need to help light the way. Be an example. Get your bills paid down. Stop spending needlessly. Heck, start brown baggin’ it! And once you’re out of your hole, and once you realize that your worth is in your awesome SELF, not in the umpteenth BrandBling purse you buy, you’re going to be sooooooooooooooooooo much better for it!