Consumer Guide Online

Are we in a recession?  Considering the news today that Lehman Brothers has just filed for bankruptcy and Bank of America is buying Merrill Lynch, combined with the bail-out of Fannie Mae and Freddie Mac by the government, one can say with confidence we are indeed in a recession.

Not too long ago, a financial expert predicted that only two major banks would be left after the housing crisis and the economy returned to normal.  It was a prophetic prediction.

What does this recession mean for you and me?  It means we have to tighten our bootstraps (if we haven’t already) and begin planning for any eventuality.

While economists comment that the last two recessions lasted for eight months respectively, it is no comfort to learn that the housing crisis has not yet reached bottom, fuel prices are continuing to rise in light of recent events, and more and more companies are closing down leaving thousands of people unemployed.

Wages have decreased, more families are in debt than ever before, health-care costs continue to rise, and our grocery bills have eaten into our household budgets significantly.

In order to alleviate the burden of all these factors, the best advice economists can offer is to take a fiscally conservative stance on our spending habits.  Here are some additional suggestions:

* Stick to a monthly budget
* Refrain from buying expensive items on credit
* Set up a fund for emergencies (at least two months’ income)
* Try to add the maximum amount allowed to your pension/retirement fund
* Stay healthy with a proper diet and exercise program (This is a preventative measure that will reduce the cost of prescription drugs and other health-related costs)
* Pay down debts
* Purchase with cash
* Buy groceries in bulk utilizing coupons whenever you can
* If you have teenage children who are receiving an allowance, determine if they can apply for a part-time job after school
* Increase your deductibles on car and homeowner’s insurance
* Keep your automobile well-maintained
* Winterize your home and use energy-efficient appliances and light bulbs
* Walk whenever possible instead of driving to a local store

Anything you can do to reduce the amount of expenditures can only help you through this economic downturn.  In the meantime, stay calm, focus on your budget, and save as much as you can.

We moved to the suburbs recently. My husband is frequently away on business, and I’m finding that I get a little nervous when I’m at home alone with the kids at night. What steps do we need to take to make sure our home is completely safe and secure so that I can sleep easily?

answer:
Proper security measures could go a long way toward giving you a better night’s sleep. Take an inventory of your new home to be sure that all doors, including storm doors and patio sliders are fitted with some type of locking device. Consider installing a peephole and/or a chain lock on all the exterior doors so you can determine who visitors are. Check that all windows have functioning locks. And make it a habit to lock the windows as you’re closing them.

For the outside of your home, consider installing motion-sensor lights near all doors. It will discourage intruders and make it safer for you to come and go in the dark as well. Check that shrubs around the house are not so overgrown that they provide cover for possible intruders. If shrubs do conceal windows or block the view of your doors from neighbors and from the street, consider cutting them back or removing and replacing with dwarf varieties that stay smaller. Finally, call the non-emergency number at your local police department and inquire if they can help you. Many departments have trained officers who will visit your home and help evaluate the security.

I’m about to embark on a new adventure for me dressing or decorating the windows in our home. I haven’t got a clue where to begin. Can you give me any tips?

answer:
Window treatments not only add color, texture, style, and character, they can perform a number of functions. For example, if you choose a treatment that raises and lowers, like blinds, or one that opens and closes— like some draperies, you’ll be able to control light and gain privacy. A fixed treatment that covers the window at all times could eliminate an unattractive view. Or choose a valance or swag and jabot treatment that frames the window and leaves the center of the glass uncovered if there’s a view to capitalize on. Consider layering two types of window treatments, such as fabric shades or roll-up wooden blinds with a decorative fabric valance and/or fixed side panels. The combination provides control over the view or the light with easy-to-operate shades and adds decorative interest and style with the fabric. Window treatments can serve decorative functions too. Extra full draperies and a contrasting trim create a luxurious look. Or mount draperies above the window to make it appear larger.

Strike the chest smartly over the heart. This may be enough to start the beat. If not, quickly place the heel of one hand on the lower half of the breastbone and cover it with the heel of the other hand. Press down firmly on the lower part of the breastbone by rocking forward with your arms straight. Do this about once a second for an adult. For a child, use one hand only and press more rapidly—about 80 times a minute. For a baby, use finger tips only and press 100 times a minute. Meanwhile, you must continue giving mouth-to-mouth resuscitation. If you are alone, alternate two inflations of the lungs by mouth-to-mouth breathing with 15 heart compressions. Counting aloud will help you. If you have help, one person should do mouth-to-mouth breathing only; the other should do the heart compressions. The two of you should not act simultaneously, but alternate one air inflation with six heart compressions.

What if someone just doesn’t start breathing? Is there anything else I can do?

If a person is not breathing, it may be because his heart has stopped. This is particularly likely in cases of severe electric shock. If, in spite of your efforts, the first four breaths produce no result, continue to give mouth-to-mouth resuscitation, but between breaths, check that his heart is beating.

How can I tell if his heart has stopped beating?

Feel for the pulse to the side of, and behind, the Adam’s apple. If you can feel no pulse, the heart has stopped. The patient will be blue-gray in color and his pupils will be dilated.

FDIC:  Is Your Savings Account Secure?

With the current financial crisis affecting banks and the stock market, in addition to reports that many more banks may be in financial trouble, the question many of you may ask is:  What about my savings account?  Is it secure?

In answer to your question, we have to look to the Federal Deposit Insurance Corporation (FDIC) for answers.

What money is insured?  According to the FDIC, the following accounts are secured “up to the legal limit of $100,000, and possibly more for special accounts.”  The insured accounts include:  checking, savings, trust, certificates of deposit, and IRA retirement accounts.

What isn’t insured?  The FDIC states that “institutions who offer consumers a broad array of investment products that are not deposits, such as mutual funds, annuities, life insurance policies, and stocks and bonds are non-deposit investment products and are not insured by the FDIC.”

To determine the amount your bank is insured for, it may be a good idea to contact them and ask about your accounts.

The FDIC also advises that “You can – and should – obtain definitive information about any mutual fund before investing in it by reading a prospectus, which is available at the bank or brokerage where you plan to do business.  The key point to remember when you contemplate purchasing mutual funds, stocks, bonds or other investment products, whether at a bank or elsewhere are that:  Funds so invested are not deposits, and therefore are not insured by the FDIC – or any other agency of the federal government.”

In addition, if you own securities or mutual funds, FDIC states that they “are held for your account by a broker or a bank’s brokerage subsidiary and are not insured against loss in value.  The value of your investments can go up or down depending on the demand for them in the market.  The Securities Investors Protection Corporation (SIPC), a non-government entity, replaces missing stocks and other securities in customer accounts held by its members up to $500,000, including up to $100,000 in cash, if a member brokerage or bank brokerage subsidiary fails.”

This is critical information considering the recent bail-out of AIG and other well-known banks in recent days.

In these troubling economic times, the more you know about your bank and its affiliation with FDIC, the more prepared you will be for any eventuality.

Anyone who is with you should immediately summon emergency aid, but don’t waste a second shifting the patient or calling for help yourself. Your one aim is to get air into his body as fast as possible, and you have three priorities: make sure his air passages are clear; breathe air into his lungs; and stimulate his heart if it has stopped beating. In a baby or small child who has been choking or gasping for breath before becoming unconscious, the air passage is probably blocked by some object stuck in his throat, so immediately hold the child up by the heels, or over your lap with his head down, and slap his back sharply several times. This alone will probably be enough to dislodge the object and enable breathing to start again. In an adult, clear the air passage by bending the patient’s head back as far as it will go, pressing firmly on the forehead or pulling on his hair. At the same time, push the lower jaw upward and forward until the teeth meet. (Don’t be afraid to pull the head really well back—it is surprising just how far back the neck can stretch). In this position, the tongue cannot fall back and block the back of the throat and that may be the only reason why an unconscious person cannot breathe. He may now gasp and start breathing. If not, quickly check the inside of his mouth for any other obstructions—false or broken teeth, blood, vomit, or mucus—that may be blocking the air passage. If this happens, reach into his mouth with your fingers and scoop out the contents fast. If he still doesn’t start to breathe, you must start mouth-to-mouth resuscitation immediately.

Does this have the same dangerous effect on the body?
True shock is always caused by a serious shortage of blood supply to the brain, usually due to the kind of emergencies . However, severe fright, extreme pain, a horrifying sight, or other violent emotional experience can cause a kind of shock. Known as nerve shock, this usually causes fainting, due to an impairment of the nervous system, but it may result in many of the symptoms of shock already described. In nerve shock, blood tends to pool in the blood vessels, so that there is less blood available for general circulation. The big difference between this kind of emotional shock and serious physical shock, however, is that nerve shock can almost always be quickly and simply relieved by treating the patient for fainting. In this case, too, it will do no harm to give the patient a warm, sweetened drink—but not alcohol—once he is conscious and has started to recover. However, it is vital to remember that these measures apply only where the cause of shock is purely emotional, and can be dangerously time-wasting if the patient is suffering from true shock following some medical emergency.

No. On the contrary, such drinks may be positively harmful. The heat from a warm drink, just like that of a hot-water bottle, will tend to divert much-needed blood away from the brain to other parts of the body. Alcohol, too, causes the blood vessels in the skin to open up and carry more blood to the skin (that is what produces the familiar feeling of warmth we experience after a drink). Unconscious casualties could choke to death if forced to drink. Those with chest, abdominal, or internal injuries could be further injured. And many casualties will need an anesthetic after arrival in hospital, for which it is necessary to have an empty stomach. Even burn victims, who need fluids, should be given only cool water drinks.

Stop any bleeding by direct pressure and call urgently for medical help. Remember, shock is caused by a shortage of blood to the brain, and without blood the brain cannot function for long. Treatment must therefore be directed toward restoring the blood supply to the brain as quickly as possible. In the case of heavy bleeding or loss of body fluid, medical treatment will probably involve a transfusion to replace the blood or fluid lost. That is why it is vital to get the patient to hospital as fast as possible even when bleeding has been stemmed.

While waiting for an ambulance to arrive, keep the patient quiet, comfortable, and reassured. Above all, keep his head low, so that blood can reach the brain more easily. If possible, arrange the patient so that he is lying down with his legs raised (on pillows, cushions, or folded coats) and his head turned to one side in case he vomits. If he is unconscious, use the coma position. Loosen any tight clothing and cover him with a blanket or coat. Keep the room warm, but do not overheat the patient or use a hot water bottle to warm him. The heat from this will divert blood away from the brain, where it is vitally needed, to the skin, where it is not. Give nothing to eat or drink, except to a conscious burned casualty.