SEVEN HUNDRED, EIGHTY SEVEN, BILLION DOLLARS. I can’t even get my brain wrapped around that figure. The tax credits that the working person will see amount to about 13 dollars a week. That’s not quite what I would consider mad money, with fuel prices on the rise again half of that is headed into the gas tank. That leaves about $ 6.50 to splurge on the frivolous things in life. There is more personal interest pork in here, than one would find in a Pulled Pork Sandwich from the south side of St. Louis.
The sad thing is I don’t think all the money in the world will fix the mess we find ourselves in. Sometimes it’s best to let nature take its course. I am floored by the statements of some of these homeowners who have seen their homes go into foreclosure. What ever made them think they could budget a mortgage payment that was half, sometimes 60% of their monthly income, a new car payment, and credit card debt up to the rafters? Are you insane, or just stupid? What happened to the 25% rule that my parents lived by? What really blows me away is many of them blame the lenders for loaning them the money! That’s like an alcoholic blaming the liquor store for selling them the booze, to qwench their addiction, My God people show some restraint.
Credit has become the new epidemic of the 21st century. Unfortunetly the only vaccine is self control, something that we seem to have misplaced over the last twenty years. Lately I find myself listening for that small voice, the one that questions if you really need that gadget. As that small voice starts to get louder we need to pay heed.
When I was growing up the evil empire was a well defined enemy. The Red Threat; in the Eighties “We the country of the brave” brought them to their knees, or that’s what we were told.
The Great Red Threat
It seems that we were so focused on our enemies, that we did not see the cancer eating away at our own society from within. I can only think that some were the ghosts of the cold war are having a good laugh.
The “Pros” on Wall Street, the ones that say we have to get this TARP money out there; remind me of snake oil sales men. The elixir they are selling is financial prosperity, the cost is the 3.2 TRILLION dollars and rising. I would caution the Institutions that take the TARP monies, be aware who you are getting into bed with. The cost of this bailout may be much higher than you think, your new “business partner” is going to be calling the shots now! The concern I have is the price we pay will be much higher. Sadly you and I will be dead and gone and our grandchildren will be paying for our addiction to bling. The question is not can we afford it? It should be, can they afford it. I don’t think so.
Talk to you later.
