When 5,000 people are laid off from Microsoft and other large companies that were always considered 'safe,' you know there's a problem..

What perplexes me more than anything else though is the fact that after these pink slips go to white collar workers, then what? These workers are most likely making tons of cash more than you and I per year--and I don't fault them for that at all, they're damn smart and hard working. But when they get laid off and terminated from a secure safe and good job, what about their mortgage? The car payment? The college bills they may still be paying back?

The trickle down economic affect is on its way.. not Reagan style though, this time recession equals depression style.

Experts among us from around the financial world and FOX BUSINESS and CNBC news analyst fame seem to think that 2009 will be bad, but we may be seeing an upswing near mid-year.. and perhaps a recovery could start in 2010 or 2011. I'm not an economist, though I have studied it in school.. in no way does our current situation look at all like it is easing.. In no way does the current state of the grim economy appear to be turning around.

Layoffs are one thing--but watch out now for retail stores. Many won't survive this year .. many malls will start to close up shop .. many main streets that still have stores could be decimated. And what then?

What about if GM and Chrysler fail? What if Ford fails? A government takeover of the car industry? A government takeover of banks!?

It's been said during other events, but this period of time in American history may be considered one of the most important in generations. How we handle the financial crisis will cause consternation and judgements for generations..

So far I don't like it. I don't like government takeovers of companies.. bailouts of executives on Wall Street.. I don't think Americans do, either. But our government seems to believe it's the only answer at this time. George W. Bush said he didn't want to be the next Herbert Hoover. .but time will tell if Barack Obama will be the next Franklin Roosevelt.

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For TIME magazine and NEWSWEEK magazine offering up cover stories this year (again) on Barack Obama.. This will be TIME's 14th in a year. TIME mag shows a snapshot from the Inaugural oath.. NEWSWEEK shows Barack and Michelle at an Inaugural ball in full dress.. The worshiping has begun!! While a new president is exciting, hopefully the media's love of Obama will not shade it from what it is there to do: Press for answers and ask questions that politicians don't want to hear. And that is, after all in the end, what Barack Obama is: A politician.

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I'm really get sick of this winter.. While we had snow a few times here in Eastern Pennsylvania at Schmuckraker home base, it was not substantial.. There is still snow on the ground but it's a dull kind of "it didn't snow in a few weeks" snow.. crunchy and melting when the sun hits the right way. I propose to winter: If you stick around longer, be worthwhile. Give us a Nor'Easter or two (NO MORE ICE STORMS!) Give us a blizzard that shuts down a few states for a few days.. Give us a massive East Coast storm that will go down in history like 1993's blizzard.. And if not, leave. End. And give up to the warmth of spring and try again next year.

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Andy Rooney wrote an article this week asking why we call a heater in a car a "heater" but we call the system that cools the car an "air conditioner" .. He's write. We should call that a "colder."

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No matter how many recalls they announce of peanut butter products, people are not going to stop eating peanut butter. And lest we forget: Last year they blamed tomatoes for months for salmonella.. And remember, it turned out to be peppers. I rest my case.

BRYAN SMOLOCK SCHMUCKRAKER.COM SUNDAY JANUARY 25, 2009 9:06 AM