Head to the fallout shelter:
March 7, 2008
Every time you turn on the television and watch the news, you are told to the economic world is going to end. We hear headlines like this: The dollar is at an all time low, oil prices are setting records, the world’s richest man, Warren Buffett, says we are in a recession, CEO’s of major companies say we are in the worst housing crisis since the Great Depression, unemployment and inflation are going up.
Just read some of the language and you will know what I mean. From an Associated Press story a headlines reads, “Employers Slash Jobs by Most in 5 Years.” Why put the word slash in there other than to conjure up fear? The media thrives on fear. Personal finance expert, Suzie Ormon, was on the Today’s Show yesterday explaining how scared she of the current economy because of the dollar’s fall and oil prices. Here is another headline from the New York Sun in November of last year, “Talk of Worst Recession Since the 1930’s” The media is brow beating us into submission. A google news search of the word “recession” turns out over 10-thousand hits in the past month alone.
What happened to the American spirit? The American Spirit that could overcome anything. The American Spirit that has the most productive workers in the world. The America that most other countries want to be like. The America where our standard of living is above all else. The America where poor people own homes, cars, televisions, cell phones and have cable.
One other footnote. The man who know says America is in a recession, Warren Buffett made $10 billion dollars alone in 2007. He is now the world’s richest man with a total value of $62 billion. That’s not a bad year at all.
I agree…. the Media does loves to get the public hiped up.
I work for a Title Company and my business is based on the housing market. I’ve had to take a $1,000.00 a month paycutt sinceOctober but I was one of the fortunate ones who got to keep my job. I’ve adjusted a few things in my budget and am doing fine. Things are not as bad as the Media makes it to be and they don’t want anyone to know that the Housing Market is getting very busy again. I’m back to full time and we are even starting to re-hire.
i would like to help Dave with his truck payment, how do I do that?
Vicki
Hey Darrel The socialist media has seen an oportunity with the housing slump to create a panic caused economic crisis.If all you are fed is doom and gloom and the sky is falling ( because we are all bad people, you know,like racist and weak and unable to take care of our selfes,ect.)then the sheepole of america will cry out for CHANGE! Does this sound familiar?It IS NOT A COINCIDENCE! Please share this very observant Americans prospective with others on monday and maybe we can put out this fire Thanks rc
Under Bush, we have increased our nat. debt by 1.5 tril. bringing the current debt to 5 tril. forecast to increase to 8 tril. in 4-6 yrs. and 12-20 in 15 yrs. How are we going to reduce it?
In the past 5-10 years we have destroyed 70-80% of our manufacturing jobs which generate the stuff that other countries are willing to pay for and replaced them with nothing equivalent thereby allowing our wealth to flow out in a torrent. How are we going to run this around?
“Capitalism” in other countries mean that their companies are treated as subsidiaries of the parent - their country- and are subsidized, supported and protected accordingly whereas we treat ours as independent entities and let them compete on their own; hence they get screwed and we lose middle class jobs. Should we change this?
“Free enterprise” on a global scale means that other countries can freely sell their stuff here and yet our goods are effectively shut out of theirs. Do we care?
In conclusion, look at our weak dollar, balance of payments, lose of good paying jobs, inflation, rising debt, failing economy and sale of critcal industries to foreign interests : we have let the rallying cry of capitalism, free enterprise and globalization drown out the guideing tones of our Constitution and Bill of Rights.
Greed has trumped patriotism.
I managed an apartment building in Phoenix. I am not an economist but it seems to me that if i were a bank and going to lose a lot of money in this real estate market and had no way to recover the money, I would not foreclose on homes and work out a deals with all who owed me. If people living in the home could not pay me in full I would come up with an idea to keep them in their home and some money in my institution. For all of those who were evicted I would call them up and try to get them back into there homes. Lets face it I would rather Lose than Lose Big. Maybe I could strike just the right deals to keep from going out of business. Making money is great but sometimes breaking even or losing a little if far better than what we are experiencing here and now..