Trickle Down

When the banks started to crash I had an almost giddy sensation realizing that those who were feeling that pain were mostly stock-holders and folks in "wealth management." None of my bank accounts closed, and I felt (aside from the declining value of my 401k) like things would be okay for those of us not involved with high finance.

I don't feel that way any more. It's true that none of those folks closest to me have been laid off or have lost their homes, but we feel more and more like we are on board a roller coaster that is just headed over the crest of a very high track. The questions of how long the drop will last, and whether our safety restraints will protect us as we hit the bottom is anyone's guess. I am not optimistic, and yet we continue to be employed and can still pay our bills, so the descent is still for us in the realm of anxious imaginings. Yet we know from recent experience with the oil industry that while corporations are slow to share their profits (Exxon Mobile had again record profits even while passing on burdensome prices to consumers) they are always ready to share their losses. I have no doubt that the losses felt by so many at the top are trickling down, and will continue to do so for the foreseeable future.

in the mean time, I am grateful each time a paycheck comes, knowing there are no guarantees. We batten our financial hatches and wonder when and how hard the economic storm will hit.