'... 7 bankers begging, 6 hedge funds failing ...'
Posted
Nov 28 2008, 04:15 PM
by
Karen Datko
Rating:
Christmas songs are already playing -- nonstop, in fact -- where "rutgerskevin" works, and that's gotten him in a holiday frame of mind, tinged by the economy.
Thus was born his clever version of "The 12 Days of Christmas" at The Red Stapler Chronicles. Sing along: "On the first day of Christmas, this economy gave to me a shrunken 401(k)."
And by the fourth day, well, he's pretty much nailed it:
On the first day of Christmas, this economy gave to me ... a shrunken 401(k)
On the second day of Christmas, this economy gave to me ... 2 bailout packages and a shrunken 401(k)
On the third day of Christmas, this economy gave to me ... 3 survived layoffs, 2 bailout packages and a shrunken 401(k)
On the fourth day of Christmas, this economy gave to me ... 4 calls from creditors, survived layoffs, 2 bailout packages and a shrunken 401(k)
You get the drift. Go to the post for the complete lyrics. Among the "gifts" are bank failures, nightly Spam dinners, bailout packages and calls from creditors.
Puts you right in the spirit, eh? Especially considering the real thing costs $86,609 this year, up 10.9% from 2007, according to annual data released Monday (that we read every single year, no matter how silly. Tradition is tradition).
PNC Wealth Management checks jewelry stores, dance companies, pet stores and other sources to compile the list. But the faltering economy has also brought down the cost of some items. Demand for gold rings is down, and so are prices, about 11%. The three French hens (down $15 to $30) and six geese a-laying (down $120 to $240) reflect declines in food prices.
But the increased minimum wage means eight maids a-milking will cost 12% more, and the better-paid 10 lords a-leaping, 11 pipers piping and 12 drummers drumming are all up about 3%, reflecting the general average wage increase.
And hey, if a poor man's "12 Days of Christmas" doesn't do it for you, maybe another person waxing poetic on the joys of a thrifty holiday will. Marla Joe Fisher found 10 reasons for thanks, starting with the giddy thrill of avoiding Toys 'R Us.
