The credit crisis might seem like old news with the current downturn in the economy. Everyone is focused on ugly little words like “recession” and “unemployment.” Who has time to worry about issues like credit, either on the national or personal level?
You should. As more and more people find it harder to make ends meet each month, they may find themselves tempted to try and maintain the lifestyle they’re accustomed to by simply charging what they want and paying it back later. No harm, right? After all, when times are tough, we do what we can to keep our spirits afloat. A night on the town here or a new bit of tech there certainly can’t hurt.
Except that it can. That is the mindset that has gotten quite a few people in trouble, from individuals to multinational corporations. The whole mindset of operating beyond our means has become embedded in the national consciousness. It’s something that needs to change and soon.
There is a question of whose fault that would be (one of the other things people love to do is point fingers.) In this case, it’s hard to say. On the individual level, there doesn’t seem to be an actual system for educating people on the responsible use of credit cards. Many youngsters getting their cards for the first time immediately dive into unhealthy spending habits that will take them years to make up for. Perhaps they’re emulating the same behavior they have seen from their parents. Until someone finds a way to break this cycle and change this mindset, the best we can do is be as responsible as we can for ourselves.
You can pick up shares of Sirius XM Radio Inc Stock for just $0.35 per share; and with analysts still betting on Sirius to rebound this might be the time to go ahead and bite the bullet.
If you don’t have major money to invest, you can pick up 285 shares of Sirius stock with just $100. Even if it proves to be a bad investment it’s still only $100 lost; and if things turn around for Sirius and their stock goes up to $5 in value, that’s $1425 for your $100 investment.
The thing to keep in mind is that there’s talk of a possible reverse stock split and if that happens your shares will suddenly dwindle.
If they do a 10:1 reverse split for example, and you own 285 shares you’ll suddenly own only 28.5 shares of Sirius stock. That would mean your share value will be $142.50 if the stock gets back to a $5 per share value and that’s obviously not as impressive as the $1425 you would have without the reverse split.
Here are some links from marketwatch.com which you can use to keep yourself up to speed on what’s going on with the economy. Keywords of note: stock indexes, technology, energy stocks, petroleum (Just write them down in your rich bitch economics notebook for now).
At market close today a share of Sirius XM Radio Inc. stock was worth $0.39 cents; but it seems no one has told the people running the company that their stock is worthless because they continue to act as if all is right with the world.
Then again, maybe the joke is on the shareholders?
SIRIUS Satellite Radio Devotes Channel to Maria Shriver’s Women’s Conference 2006, 2007 and 2008
I’m still looking for stocks to buy. Presently trying to decide if I should buy some shares of Ford. Not liking that the 52 week high for Ford is only $8.99.
After doing some research I’ve discovered that Ford stock has seen a steady decline in value over the last 5 years. It seems the most the stock has been worth in the last 5 years has been $16.59 cents back in 2004. Since I’m a small time investor, as in someone who can only afford to pick up a few shares here and there, it probably wouldn’t be of any long term benefit to me to invest in Ford. Even if it goes up to $20 per share 5 years from now and I only own 10 shares that’s just $200. I’m not sure that’s an example of successful investing having to wait 5 years to turn $24 into $200.
I’m not understanding how they do business over at Sirius XM Radio Inc. The worth of their stock keeps dropping day by day, yet you hear nothing from them about the state of their company. Furthermore, on the 15th of this month they announced the launching of “Game On”, which is to be an “Exclusive Weekly Show” to be hosted by Joshua Pellicer and Jordan Harbinger. The show, which is scheduled to be officially launched today will be devoted to the Art of Meeting and Attracting Women”. Sirius also announced on the 16th of the month the Wearable XMp3 Satellite Radio developed in conjunction with Pioneer. The XMp3 satellite radio will allow you to “Record What You Love, Listen When You Want(TM)”.
Are the people at Sirius simply out of touch with reality; or do they just have so much confidence in their company that they’re not even slightly concerned that as of yesterday’s market close a share of Sirius stock was down to $0.39 cents having gone even lower during the trading day?
Related Articles
SIRIUS’ Maxim Radio Launches ‘Game On,’ Exclusive Weekly Show Devoted to the Art of Meeting and Attracting Women
XM and Pioneer Introduce the Wearable XMp3 Satellite Radio: Record What You Love, Listen When You Want(TM)
The following mortgage finance giants are alleged to be under investigation by the FBI for potential fraud:
- Fannie Mae
- Freddie Mac
- American International Group (AIG)
The Feds are also allegedly investigating the collapse of Washington Mutual (WAMU), Lehman Brothers and several other large financial firms.
And why is this relevant? No particular reason, but if you’re like me and tend to think you’re in safe and honest hands when dealing with large corporations, you might want to keep your eye on the investigation. It could prove to be an eye-opening experience.
Image: Homepage screenshot of freddiemac.com
Just a random question from an uninformed inquiring mind, but if the credit crisis that has the government pumping billions into select corporations is only part of a bigger economic crisis why so much focus on the cridit crisis specifically? Mind you I’m not venturing an opinion, only asking a question. Of course asking a question of myself to which I don’t have the answer is futile, but….
I’ve read on Marketwatch.com that there’s a painful recession underway. What I’m curious to know is how this painful recession is likely to affect those companies to whom the goverment is giving billions. If the companies could conceivably still go down despite the billions being pumped into them to try to sustain them now, why is so much money being risked on repairing a broken bone if the heart is in danger of going into cardiac arrest? Shouldn’t the money be invested in fixing the heart problems. Bones are useless to the body without a working heart.
U.S. stocks swamped under wave of grim data – Dow back below 9,000; upbeat Intel, Coca-Cola, J.P. Morgan results sidelined
Image: Recession Forecast? by Bob Jagendorf via Flickr
The financial crisis had appeared to allow for a breather yesterday when the Dow Jones Industrial Average went up by as many as 600 points; but today the DOW was back down 700 points following reports that the state of the economy hints at a recession on the way or already present. Exactly what that means I am not knowledgable enough to dare attempt to say.
What I do know is that I have a few dollars in my sharebuilder account and I want to invest it smartly. Wachovia stock is now at $6.06 and I’m thinking about buying a few shares; but I don’t really know what the situation is with Wachovia and Wells Fargo and how it plays into the decision to buy Wachovia stock right now. I might go and buy a few shares and then once the dust from the merger settles there’s a reverse split done which crunches my shares down to something like a fraction of a share or something. I’ve had that done on some of my other stocks and when you only own a few shares to begin with it’s not a very nice thing to have occur.
I’ll probably pass on Wachovia.
Image: Wachovia by NCinDC via Flickr
I am three cent’s closer to my target with Sirius. Now if only Sirius can go up by $6 like Morgan Stanley has done since Friday’s close I’ll be in business; but I guess that won’t be a remote possibility for some months. It’s not like Sirius XM Radio Inc is Morgan Stanley. The government is not going to bail them out.
Photo by Bloomberg News
