Sunday, February 22, 2009
Congrats A.R. Rahman
One of the best musicians in the last decade just won 2 oscars!! very nice, heartiest congrats Mr. Rahman.
What is my Reward for being Fiscally responsible?
Over the last 2 years, D and I have been very conservative, put our money in savings accounts, CDs, employee stock plans etc. We rented a place and cut back on frivolous spending, eating out etc. I have to admit, after all the hard work, it feels good to have a strong portfolio that did not get cut into when the market tanked. In return for this, what do i get in 2009?
The savings rate on my accounts is down to 0.75% and there's a a cloud over my entire team in chicago.
The so-called economists are going to spend billions of dollars on people who bought unreasonable homes, 4-5 bedrooms, swimming pools in Illinois!!! thier fancy big screen tvs and steel appliances for thier unreasonable homes because these people cannot afford to pay for this stuff anymore. Thier loan principal will be reduced and thier intrest rates will be reduced.
WHY?? they made mistakes, they decided to spend thier money unwisely, why should i pay to fix thier issues? the government has some stock answer about this problem but why aren't there any rewards to people like me who were resposible??
Banks need capital infusion?? offer me a 4%, 5% CD for a year, i'll move my money there, im sure there are more like me who could all do that. Forget capital gain taxes, they need to work on lowering taxes on my interest earned. If you are paying to lower prinicpal in my locality, they need to pay my landlord to reduce rents too.
People like me will be paying the high taxes in 2 years to pay for this spending. Why should we, when we got nothing out of it and didnt do anything to cause it?
The savings rate on my accounts is down to 0.75% and there's a a cloud over my entire team in chicago.
The so-called economists are going to spend billions of dollars on people who bought unreasonable homes, 4-5 bedrooms, swimming pools in Illinois!!! thier fancy big screen tvs and steel appliances for thier unreasonable homes because these people cannot afford to pay for this stuff anymore. Thier loan principal will be reduced and thier intrest rates will be reduced.
WHY?? they made mistakes, they decided to spend thier money unwisely, why should i pay to fix thier issues? the government has some stock answer about this problem but why aren't there any rewards to people like me who were resposible??
Banks need capital infusion?? offer me a 4%, 5% CD for a year, i'll move my money there, im sure there are more like me who could all do that. Forget capital gain taxes, they need to work on lowering taxes on my interest earned. If you are paying to lower prinicpal in my locality, they need to pay my landlord to reduce rents too.
People like me will be paying the high taxes in 2 years to pay for this spending. Why should we, when we got nothing out of it and didnt do anything to cause it?
Where's Satya??
Its been a year and half since i last wrote.. so many things have changed...
-- I am a dad now, its the coolest, awesomest feeling in the world. Little S is my reason to wake up every morning.. he is now running around, mumbling a few words and throws a tantrum like its nobodys business!!
-- My adoptive country has a new prez and altough i want him to show some "hope" and "change" before i can be excited as much as some of the others, i am praying that he succeds because of my next point.
-- The US economy and consequently the world's has gone to hell in a handbasket. As ignorant as I am about financial matters, even i saw this comming a year ago. D and I were preparing for the arrival of lil S and were out looking to buy a house. I went to the banker to get loan information for aroun $350K, which itself was a HUGE amount that i did not have the stomach to spend. The banker offered to loan me $550K and told me to go look for a bigger house!! at this time i barely had money to put 5% down, was not a green card holder yet and D had a temp job!! when i heard this, i started beliving all the "Bubble" rumors in the market then and signed a lease for a bigger apartment. Lo and behold, we are now at a place where Citibank is priced at $1.95 and BAC at $3.50. almost 10 million jobs have been lost in the US and there does not seem to be an end to that yet..
-- I don't think Obama's plan will work, atleast 1 big bank needs to go under, as much problems that will cause the markets, they need to know the worst that could happen.
-- I am getting tired of spending everyday with a sword over my job. Right now, im putting an over/under at 6 months to when my work will come to an end. Its gonna be time to start thinking if i should go back home and move on to the next part of my life or look for something else here and strech it out.
-- I hope i wont be too pessimistic all the time and will write more regularly going forward, I think i want lil S to have an idea of what his dad thought and when..
-- I am a dad now, its the coolest, awesomest feeling in the world. Little S is my reason to wake up every morning.. he is now running around, mumbling a few words and throws a tantrum like its nobodys business!!
-- My adoptive country has a new prez and altough i want him to show some "hope" and "change" before i can be excited as much as some of the others, i am praying that he succeds because of my next point.
-- The US economy and consequently the world's has gone to hell in a handbasket. As ignorant as I am about financial matters, even i saw this comming a year ago. D and I were preparing for the arrival of lil S and were out looking to buy a house. I went to the banker to get loan information for aroun $350K, which itself was a HUGE amount that i did not have the stomach to spend. The banker offered to loan me $550K and told me to go look for a bigger house!! at this time i barely had money to put 5% down, was not a green card holder yet and D had a temp job!! when i heard this, i started beliving all the "Bubble" rumors in the market then and signed a lease for a bigger apartment. Lo and behold, we are now at a place where Citibank is priced at $1.95 and BAC at $3.50. almost 10 million jobs have been lost in the US and there does not seem to be an end to that yet..
-- I don't think Obama's plan will work, atleast 1 big bank needs to go under, as much problems that will cause the markets, they need to know the worst that could happen.
-- I am getting tired of spending everyday with a sword over my job. Right now, im putting an over/under at 6 months to when my work will come to an end. Its gonna be time to start thinking if i should go back home and move on to the next part of my life or look for something else here and strech it out.
-- I hope i wont be too pessimistic all the time and will write more regularly going forward, I think i want lil S to have an idea of what his dad thought and when..
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