Risk it All?
This economic decision facing Congress and Americans in general is perhaps the most important one we will make in our lifetimes, if not in the history of this nation. A swing has happened with citizens where more and more are now embracing the idea that it might just be okay to let the economy crash and burn—even if that means another Great Depression. The idea actually has some merit—our economy is full of greedy leaders, an out-of-control Wall Street and people with $30,000 incomes buying million dollar mansions so why not just let it fail completely and let the correction begin. It’s an ambitious idea but with the decision comes a great price. If we really let the economy tank then the job you’re driving to will most likely be gone or at least good chunk of the people you work with will be gone. Kids won’t be in college because there will be no student loans. The grocery store you visit, if it’s still there, will have over priced and limited items on the shelf. And starving people will knock on your doors—daily. The list goes on but I’ve painted the picture. We often complain about the big government programs that originated with the first Great Depression so this would certainly be a do-over. A couple points: are you really willing to risk it all and will you promise to keep the government small once we re-emerge in several years? Ankarlo’s Take is written for broadcast. You can hear Ankarlo’s Take every weekday morning at 7:20 during Arizona’s Morning News on News/Talk 92.3 KTAR
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Darrell Ankarlo, I wanted to tell you your show is great and keep up the good work.I heard yesterday on your show through out the day that if people are having trouble with there mortgage they should call there lender to get help and I kept hearing the words loan modification.The first year I was on time on my mortgage payment, second year work slowed down so my wife had to work full time,I fell a little behined but was able to catch up using my 401-k,this year has been the worse my job has been laying people off and cutting back on hours.My lender is Country Wide when I asked for help they said I did not make enough money to get assistance, wich did not make any sence to me.Then I had a spike of work that lasted about three weeks wich aloud me to show more income, so then they said they can help me with a loan modification, it brought me current keeping me from forclosre but instead of my monthly payment going down it went up along with my principal so now I’m even worse off. Country Wide told me this was my only option so I had to take it or go into forcloser.Now I’m in florecloser mode again, I’ve looked for a better job,second job,worked side jobs,pulled from my 401-k twice,and accepted money from family.So I asked Country Wide for help again they tod me sorry you dont make enough money.I hear that the last thing the lender wants is anouther empty house on there hands, it dosent seem that way at all I tried every thing possible to keep the house, I kept contact with the lender still no help they must not mind another empty house.
if the figure that 2% of the people hold 90% of the wealth in this country is true then the small investor is just along for the ride. my biggest fear is having my meager ira disappear into the bigger pockets out there, im considering taking enough out of my ira while theres still something in it to pay of my mortgage.i would appreciate an unbiased opinion on this matter. truth is i dont trust financial advisors or anyone that has a financial stake in any opinion they give me. thanks hope you can help
gas prices? last time oil was under 100 dollars a barrel price at pump was in the low 2.00 per gallon, whats the reasongas still over 3.oo (excuse)might be a better term
It has taken this mess of our economy to make me lose confidence in our politicians. I believe we have in Washington a bunch of leaches who will do anything, say anything to get elected. Once elected then they give their alligence to everyone except the people who voted for them. I am all for voting out everyone in the house and the senate and bring in a whole new group of middle class people who know what it is like to be helpless after one is elected. What we need is a means to get politicians out of office after they are elected and before the next election when they have not done their job. Most are concerned about their own agenda rather than watching the store for the people.
If I were to perform poorly at my job, I would get fired in a moment. I feel the politicians ought to have the same concerns as the normal every day worker.
These politicians who took advantage of the bail out porposal to add in their own porkbarrel spending ought to be removed from office immediately. This is not only dishonest but shameful and their names ought to be spread over the entire news media for taking advantage of this society, so that the states who sponsor these politicians can be put on the hook for their shamefulness.
I believe that anyone who has a lot of money should not be a politician. This is where our problems begin. Like the presidency we need to put a limit on the length of time any one person can spend in politics. It’s time we limit the length of time people can spend in Congress & our Judicial system, just like the presidency. People like Senitor Kennedy and Biden, McCain, Pelosi, etc. need to find a job other than politics.
It is also time we get rid of the party system and let everyone stand for what they believe. Campaigns should not be what the other person is doing or not doing, it should be what the incomubant can do or plans to do to make things better for the people.
Neither Senator Obama nor Sentor McCain would be my first choice. On the other hand I might vote for Sara Palin because she has not been a seasoned politician damaged by the lies and personal agends of most all politicians.
My wife and I have worked hard all our lives. We have saved and paid for our home in full. We have sent our kids to college and saved for our retirement. Now that we have retired, we have nothing to show for it because of those who have trusted to protect us and be our watch dogs. Those who have money don’t know what it is like to have the rug pulled from underneath them. I feel that those on Wall street should be prosecuted and judged by those who lost everthing. Those citizens who took a chance knowning that they could not meet their obligations should go under along with those who supported helped them make bad decisions. Some one needs to pay for creating this problem or for not watching the ship as it sinks.
An Unhappy citizen.
our government is a two ring circus, while the elected are the clowns. it would be a complete understatement to suggest that the advice and projections are conflicting, since there seems to be a complete 360 degree choice on who to listen to. when the house rejected the bail out the market dropped, when the house approves the bailout the market drops. this is surreal,
do you actually respond to these comments or am i just blowing off steam