Rant about the economy

I’m really getting frustrated with some of the discussion & talk about the financial situation our country is in and who is to blame and what we’re doing to solve it.  As I stated in an earlier post….I agree with Dave Ramsey that we can easily get out of this mess by making a few basic adjustments and give the people an option to get out.  Now today….the most powerful person in the world (arguably) Oprah Winfrey brought Ali from CNN on her show to try and explaining what happened.  Now, I’m sure he’s right with his facts…but what we’re all missing here is who is ideally responsible for getting us here.  We each need to take personal responsibility for the decisions and choices we make.  Here is what Ali said….Annie wanted to buy a house….she borrowed from the bank….they sold her loan to a bigger bank…..and they sold it to a bigger entity.  Typically this is OK….but when values of homes go down, people loose their jobs and the stock market crashes all at the same time….we have a problem.  Now poor Annie can’t pay for the expensive house that she probably shouldn’t have bought in the first place and her home gets foreclosed on.  Now the bank owns the home and their not in the business of taking care of empty homes.  Now, some are blaming the banks and they do hold responsibility for making loans when they shouldn’t have.  But it all comes down to personal responsibility.  WE can all qualify for more credit then we should….we need to have the self discipline to only take credit for and buy only what we can afford.  The “American Dream” is coming back to bite many people these days.  I think more than the banks, wall street, and politicians…..Annie is to blame.  Annie shouldn’t be using so much credit.  She should do her best to live within her means.  I personally spent over half of my adult life with consumer debt.  Not until Brenda & I decided to take personal responsibility for our spending and get control of it were we able to get out of debt.  The solution for our countries financial situation is for all of us to stop using credit to live and live within our own personal means.  Now, in full disclosure…I do have a mortgage on my home.  I don’t mean that we can’t buy a house until we pay cash…I mean our own consumer debt.  Putting things on credit when we really should be waiting to buy it.

What do you think?

5 responses to “Rant about the economy

  1. Subject: Fw: I took the pledge – Have you?

    Well the congress has done it.

    As of the morning of the bail out vote in the House of Representatives, polls showed that the American people were 74% against any bail out for the Wall Street fat cats. We wanted a fix from the bottom up and not from the top down. Fix ‘Main Street’ not Wall Street we told them. They didn’t do it.

    However they did agree with the bloated $700 billion the Senate passed for their greedy Wall Street friends with another $150 Billion of Pork. So now our children are on the hook for at least $850 billion and no one can tell us if it will work or will be the last.

    Meanwhile, ‘We The People’ continue to lose our jobs and homes.

    Our elected representatives have chosen to ignore us, ‘We The People’ whom they swore to represent.

    They think we are stupid. They think we don’t have the guts to clean house. They think ‘they know better’ than we on ‘Main Street’ do.

    So…

    I have taken the Pledge:

    I, (put your name here), will NOT vote for any incumbent in the upcoming election regardless of party. I intend to do my part in ‘throwing the bums out’ in Washington that continue spending my money on those that have wrecked our economy rather than the people who sent them there. This is my solemn pledge.

    Mail this to your Representative and Senators, to all your friends and all news media, both local and national. Email this to all the talking heads on the cable outlets, Lou Dobbs, Bill O’Reilly, Keith Olbermann, Chris Matthews, Alan Colmes, Sean Hannity, Rush Limbaugh and with every blog and talk show host you know of.

    Urge everyone you meet to take the Pledge.

    This the only way we, the American People, will ever take back our own government.

    Do we have the guts? Do you???

    If not, then you don’t have any right to complain if they continue to screw us over.

  2. Loran –

    Due to the pressure that society puts on people to live in the now and drives “instant gratification,” we need to put so much more focus on teaching our kids and children about the pitfalls of money and how debt can hurt.

    We simply do not talk or give enough life lessons around finances, let alone talk about it enough with our spouses (general statement here…).

    So, how do we fix the mess? We start by identifying the real root-cause (greed), begin to connect-the-dots for our kids and show them what effectively managing finances looks like.

    SP

    ps: Hope you are well, let’s connect at Howard’s house later this week.

  3. Hi Loran,
    Roxx and I are Skyping and trying to comment on your blog with some very profound thoughts and she is not getting through. How can we share profound thoughts when I’m the only one who can get through?

    I love reading your blog. It’s fun 🙂

    See you soon,
    Beth

  4. If this comment goes through I have officially beat the Word Press spam monster. I got sent there because I copied my new blog link into comments; thus, Word Press thought I was spam when I was not. More important than this, am writing to wish you a Happy Bday week! I love you!!!

    Your Fav Blogging Sister,
    Roxx

  5. Loran,
    Forgive me. I am working on setting up an account for Beth with Word Press so when she leaves a comment it shows her pic and a hyper link under her name. I am commenting here as a test.
    Blessings,
    Roxx (for Beth)

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