November 2, 2010

November 2, 2010

The Fed is flooding the market with dollars driving down interest rates in hopes of stimulating the economy. They are grasping at straws. Unfortunately for us all, there was a significant segment of the population involved in building too many houses from construction workers, to realtors, to mortgage brokers. It will be years before they are working again.

In the meantime it is ugly also for retirees. I bought a $5000 3-month bank CD a few days ago. The 0.1% interest I was lucky to get meant I will soon earn $1.25. Enough for lunch I guess if Aimee and I share a burger off the dollar menu.

So I wasn’t surprised when Aimee suggested we both go back to work. The job Aimee found for us was grueling. We were at work before five this morning and didn’t get home till after eight at night. Just early enough to eat dinner and crash. Too long for our first day back at work. And it was a sweatshop. We worked the entire fifteen hours with only a quick lunch at our desks. Of course we worked the election at one of the local polling places. Aimee thought it our civic duty. Our job was to check Driver’s licenses. Surprisingly Arizona is one of the few states that require showing ID to vote and this state law is likely to be ruled unconstitutional. I am at a loss to understand the rationale.

Next time you vote give the volunteers a big “Thank You” as these mostly elderly workers deserve your gratitude. As for me, I am thankful we don’t vote again for two years; I need the rest.