Another HR Primer: The Financial Sky is Falling

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I work in Human Resources because my career options are limited. I don’t know anything about math, science, or money. If I had the ability to make big money on eTrade with my blackberry, you can be damn sure that I wouldn’t be organizing your team-building event.

With very little knowledge of the financial industry, I have been following

  • the sub-prime meltdown,
  • the crazy oil market,
  • and the crash on Wall Street.

Larry Kudlow — who is a conservative, financial whizzbang — was on POTUS 08 on Monday afternoon. He shared his very bullish financial advice that was easy for me to understand.

  1. Hank Paulson is genius,
  2. the stock market will correct itself,
  3. and lower oil prices will help to correct the sub-prime mortgage meltdown because low oil = more money in the consumer’s pocket.

Whew. I feel better already. Larry said that the Fannie & Freddie crises were spurred by high oil prices. If we spend less money on gas, we can use the extra money to pay our debts & mortgages & stuff. The good news is that crude oil prices are falling on the market; however, the bad news is that the horrible weather in America is impacting our ability to turn crude oil into gasoline. Prices at the pump are still rising.

Crap!

Nevertheless, I’m investing in some blue eyeshadow and Duran Duran records (yes, records) because the 80s are back in style. When we try to cure our financial woes with supply-side economics, I get nostalgic and long for the days of jelly shoes, Iran-Contra, and ketchup being considered a vegetable.

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If you’re like me — a Human Resources professional who doesn’t understand much about finance unless you hear it from Cody Willard — you’ll need some basic information that explains the current market woes.

  • The best information out there is on the Basics Section of USA Today and Gawker.
  • If you work in HR, read those two sites so you can impress your boss at staff meetings.
  • If you have better sites to recommend, please leave a comment.

Honestly, I’m way too busy reading investigative journalism in Us Weekly to bother with the financial crisis. I’ll be impressed when someone can explain the failure of Lehmen Brothers and the purchase of Merrill Lynch by Bank of America via Twitter in 140 characters or less.

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