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Archive for the ‘The Outside’ Category

The word from the Fed.

In The Outside on March 18, 2009 at 9:57 pm


My husband and I just got back from a talk by a senior economist at the San Francisco Federal Reserve Bank, Mary C. Daly. It was titled “Understanding the Current Economic Crisis,” which is a lot to promise for an hour lecture, but the woman held her own. The big takeaway? Most of our previous recessions have been “v”-shaped: a sharp drop in GDP followed by sharp rise. The current recession is looking more like a big, shallow bowl: a long, slow descent down (bottoming out at the end of 2009), followed by an even slower rise (not picking up significant steam until 2012). While the thought of this strife continuing in full force for another 9 months isn’t pleasant, it was somewhat comforting to see her dotted line actually start inching upward when so many people are feeling like there’s no relief at all on the horizon. As we handed over the $25 to the babysitter when we got home, it felt like we were doing our part to keep the economic engine churning, albeit ever. So. Slowly.



In The Outside on March 12, 2009 at 4:11 pm


My friend Gong Szeto (husband of longtime friend Bonnie Schwartz) posted this Warren Buffett quote on Facebook today. I’m reposting it here because I wanted to remember it.

“If you don’t feel comfortable owning something for 10 years, then don’t own it for 10 minutes.”

I’m getting ready to move and I think I’m going to apply this theory to the purging process: if I don’t want this for the next 10 years, I’m going to sell it or donate it to someone who might need it.