Under the Mattress

UTMGuy Here, wasn’t planning on posting anything big on the economy this week, but just recieved an e-mail I thought was rather interesting. Glenn Beck, talk-show host on CNN, has reportedly been e-mailing friends and family members his thoughts on the economy, with his unique take and information from his research. The e-mail we recieved was actually quite a long one (three long ones all sent to us at the same time) so I’m still sorting through it, but I thought I’d post some parts from what I’ve read. His e-mails cover 3 main topics:

1. How Did We Get Here
2. What’s Coming
3. What Can I Do To Prepare Myself and My Family?

These quotes are from the last section, about preparation. They won’t be 100% clear without reading the whole e-mail, which I’ll try and post soon, but I thought they were relevant anyway.

Soon, the Wall Street crowd will turn to the actual economy and the
conversation and pressure will change to consumer spending. Remember,
YOU are the engine of the US economy. Wall Street NEEDS you to spend.
I pray that we hold fast to the ’storm clouds’ that are still
gathering and ignore the lures and lies that will attempt to hook you
back into your old style ‘lawn party.’ We will continue to spend and
consume. We just need to focus on a few out of fashion American values
such as thrift, value and moderation.

You know what your family can afford and what it needs. Kids still
need to go to college, broken cars still need to be repaired and
worn-out appliances still have to be replaced. What needs to change is
how we shop. We need to look for value and we MUST live within our
means.

How do you know when you’re getting something for a good value? Just
imagine buying it (whatever it is) in front of dad. Can you imagine
telling dad that you ‘need’ to spend an extra $3,000 so your car can
come with that ‘must have’ automatic self-closing sunroof option? Or
paying an extra $650 on a washing machine option so it can connect to
the internet? I’m beginning to think that if dad won’t spend the money
on it, I probably don’t need it. Dad is great at spotting value and
it’s his sense of values that makes him so good at it. I always try to
think like my grandfather when I want to buy something, if in my head,
he says, “Why, you’ve got a perfectly good one now,” I know I don’t
need it.

Some interesting stuff to think about. I’ll get the rest of the e-mail posted later today – it’s a long and statistically involved e-mail, but a good educational read.