The Friday Financial Follies are designed to summarize the important financial issues of the week.

•  Share the humor of those that are funny.
• Make fun of the stupid.
• Highlight those you need to be aware of if you want to be financially well-grounded or is it well-rounded???

Market Crash, European Style:

It would be personal finance malpractice to ignore the stock market’s crash and burn action this week.  “Free fall, turmoil, short squeeze, panic, and herd mentality” were all terms used over and over during the newscasts-even on the non-business channels.

If you want to follow the herd- sell your holdings now, and wait till the market is back up 75% before getting back in.

That’s what “the herd” does.  Which is why buying index funds is the recommendation of the so-called experts.  The problem is not what you buy as much as selling low and buying high.

Public sentiment is as low as it’s been since the Carter administration.  Until Washington gets spending under control, tax reform, and regulatory agencies get their leashes jerked I’m afraid things will not improve.  Being an eternal optimist, I think things will get better, but it may not be until after November 2012.

Lingerie Sales-staff:

Do you enjoy shopping for lingerie in a shop with all male staff?

What? You’ve never shopped in a lingerie department or store anywhere with all male staff?  You’ve not shopped in Saudi then have you?

The Saudi Arabian government has now mandated female staff for lingerie shops.  How bout that for “top down” rule making…..

Lottery Shenanagins

In the “they have too much time and money” department: Lottery players in Massachusetts figured out a mathematical loophole insuring big wins….The secret was buying more than $100,000 worth of lottery tickets at the “right” time….With my luck, the secret loophole would close the day I laid 100 grand on the counter at the 7/11….

Million Dollar Fender Bender?

Where could a Bentley run into a Ferrai, Mercedes, Aston Martin and then a Porsche?  All in one fender bender???? Only in Monaco, the European wealth capital.

Who likes taxes?

Legal Moonshine?  My late father-in-law would say, “What fun is that?”  Avoiding the feds was the draw to buying bootleg ‘shine, certainly wasn’t the taste…Yuck! (yes I had to try it…just a sip…)

Why is Europe Crashing?

European banks make poor economic decisions?  Using a soccer star as collateral for a loan would suggest, “yes” is the answer!

Google/Microsoft Smackdown:

Google and Microsoft were trading verbal blows on social media this week.  Consensus is ne’er-do-well dinosaur Microsoft won this battle.  “Will miracles never cease???”  as my grandma would’ve said.  Maybe there is a little life left in Microsoft.  A company with 43 billion in cash in the bank probably shouldn’t be ignored…

Personal Finance Reads:

Joe at PF By The Book opens up his credit score for all the world to see.  Considering his last debt was paid off years and years ago, what does his situation have to do with the rest of us?  Nothing, but it’s still fun to read.  Great job, Joe!

Is you hobby holding you back? That’s the discussion going on at the Bucksome Boomer.  Derek makes great points about boat loans and delayed gratification.  The comments keep harping on a balanced life being important.  I agree, but a  balanced life shouldn’t mean carrying a balance on your toys…

Can you afford to repair your car?   Is a great question Flexo asks at Consumerism Commentary.  Not having money set aside for life’s hiccups is a common reason many can’t seem to get out of credit card debt.  It requires great sacrifice to live within your means and put aside money in a rainy day fund, when you could be out partying with your buds…

Sam @ Financial Samurai writes about the confusing world of the debt relief industry.  The only growth I’ve seen in my community over the past coupla years has been in payday loan companies, title loans, and other short term, high cost borrowing options.  Vultures picking over the carcass of the stretched consumer….

Amanda is dissing the guy making $150 grand…. if he can’t manage his money.  I thought it was all about looks….

Punch Debt remembers his Mom is still the beneficiary of his retirement accounts....No big deal except he’s been married for a year.  His wife deserves better for putting up with him!

Playing for blood, is how Jason @ Live Real, Now competes with his kids.  Hoorah for him.  His kids won’t have the “world revolves around me” problem that is tough to deal with when you grow up.

Buy Lingerie

Go forth and purchase  lingerie in the shop of your choice, it will help the economy and maybe your marriage!

And thanks to Craig for including me in this weeks Best of Money Carnival, it’s an honor to be one of ten!

And The Totally Money Carnival is at Compounding Returns.

 

{photo credit: emdot c.c.}

Speakin of Google + I’m there as Dr Dean.  Put me in one of your circles, I’ll feel so special….

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