What Caught My Eye Today

Fred's Note: So much depressing economic news so little time. Here's a sampling of just how bad things have gotten and the extremes so folks have resorted to in order to make ends meet.

Autos - The number of vehicle repossession in the United States jumped 12% in the last year to 1.67 million. Hmm. I thought repossessions were focused primarily on family homes. Of course, I imagine for some of those 1.67 million, that Buick was the family home. Still if you are looking for work, you could always become a repo man.

Home Prices - The median price of homes sold in Detroit this past December was $7,500. You still couldn't get me to move there.

Higher Education - Endowments at U.S. colleges and universities fell 23% last year. Harvard's endowment alone fell by $11 billion or 30%. I'm sorry, but it's a little hard for me to feel too sympathetic toward these guys. At least they had $11 billion to lose. And...oh by the way, they still have almost $37 billion left to tide them over.

Porn - Speaking of growth industries... With the adult entertainment business being one of the few bright spots in the economy, several states and municipalities have been moving to raise taxes on dirty magazines, sex toys, and strip clubs. In Texas, a proposed levy on strip joints was dubbed the "pole tax." Ha ha. Very funny. Seriously, what's a guy (or gal) supposed to do for a little fun these days? This just ain't right. Not that I personally indulge in such thing myself. I'm just sticking up for those who do. I'd never...you know...watch or partake in any such...you know.

Air Travel - Irish discount air carrier Ryanair is considering charging passengers to use the restrooms aboard its planes. The CEO was quoted as saying, "One thing we've looked at is the possibility of maybe putting a coin slot on the toilet door." Or maybe you could just get rid of the toilets altogether and put in more seats, you cheap bastards!

CIA - Underscoring the official anxiety over the risks that the economic downturn poses to international stability, the White House now receives a daily CIA briefing on the global economic crisis, in addition to briefings on terrorism and other national-security issues. I hate to sound like a conspiracy theorist here, but how do we know that the CIA didn't start this in the first place? It's possible you know. For my nickel, I'll stick with more reliable sources like CNBC.

Finally, one last item not related to the economy; though sadly, I not sure it's reason to celebrate either.

New Orleans - Three and a half years after Hurricane Katrina, the National Guard has pulled the last of its troops out of New Orleans. A restaurant owner said, "A lot more of us will be packing our own pieces now to make sure we're protected."

And on that note, I'm going to go find myself a nice, stiff drink...or maybe a cliff to jump off of.