Responsibilities
in the early afternoon on Tuesday, the 8th of July 2008 by Capt Jake Fortune
Scott at The Razor takes a hard look at the current economic realities and shows why we’re pretty boned. Because we’re doing it to ourselves.
Being Free isn’t easy. With freedom comes responsibility, and Americans don’t seem to bear the latter very well. Weathering the financial storm that lays ahead with the continued collapse of the real estate and stock markets as well as the rising cost of energy and food will be tough. However electing politicians who promise change and hope will only place people in power with prior experience at really screwing the economy up. The price of energy will come down; home prices will stabilize if only Americans take responsibility of their own situations and not expect the federal government to fix it. But will we?
I look over and over again at what people are doing to themselves and everyone else around them.
- The people who bail out of a house they never should have been living in originally because the payments got too high.
- The ones who will be whining their 401k and retirement accounts are dropping in value while at the same time want the government to stop business profits.
- The needless sense of obligation that people who don’t even pay taxes expect from the government. They may not be able to even articulate why they deserve to be taken complete care of but they do know they’ve been told they do over and over again.
- No Blood for Oil but why isn’t the government fixing gas prices?
I’ve been frustrated by my so called fellow citizens lately. I’m so hoping that my fears of an apocalypse of the republic is simply the 24hr news cycle affecting me…
Today’s the anniversary of the market bottoming out in 1932. Took until the 1950′s to recover. The DJIA right now is 11384.21. In 1932 it was 41.
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July 9th, 2008 at 7:37 am
You know, I do worry about whether I would be strong enough to survive another Great Depression. All four of my grandparents were young adults at the time it struck. None of them had an easy childhood. All of them lost at least one sibling early in life. All of them were strong, productive, thrifty, wonderful, successful people.
I was raised in a time that we had many luxeries. I would find it hard to give them up. I can only hope that I would have the strenghth to survive and even thrive, like my grandparents managed to do.
July 12th, 2008 at 12:53 pm
So much of a different time then the Depression.. i don’t think we willhave the chance to even fret about such a situation.. the news is liberally biased and weans on the weak.. they overkill every aspect to make the world sound like it is coming to an end. and even so, every time things have looked their worst,that is when this nation became that muchstronger.. so perhapsthis is a current house cleaning process.. we will over come it.. but i just don’t think it is as bad as the media makes it sound..
i think to the 70′s when that was oh horrors and not much different now.. the 80s kicked back with a boom, the 90′s wimpered, and now we areback to another time of confusion.. but again so much of it pumped up by our media.. i try to avoid listening to it all, the stupidity hurts my head and makes me ill..
all we can do is do our best in the interim, and how those who need toburied do so (ahhh).
July 12th, 2008 at 2:17 pm
You know Tina, I really hope that you are right. And I know that your reading of the current media is correct.
My fear is that the government is artificially “saving” the economy. And that we either bite a small bullet now, or bite a huge bomb in the future. And, I’m for taking a small bite now.
I’ll use the housing market as an example. Housing prices are artificially high. In the recent past, there was lots of cheap money to be had. People could get huge mortgages and they bought houses at inflated prices. The price of my house nearly doubled in 5-6 years. There is no way that my house is actually worth what people are paying. I think that the market is due for a correction. Hence, the foreclosure crisis. I want to bite the bullet now. The value of my house will drop. Fine. Now, if the gov “bails” everyone out, I think that it is a stall. They will waste taxpayers money. They will reward bad behaviour. They will teach yet more people that they are not responsible for their bad decisions. And we will then take a much bigger hit, later…