So Now What Do We Do?
>> Monday, September 29, 2008 –
Finances,
Politics,
Random Thoughts
The "Bailout" didn't pass. The market took a serious tumble. What is your first inclination? Do you gather up some cash and buy low? Or do you hunker down...maybe stuff some 20's under your mattress?
I know we "need" this bail-out plan. I understand that if we don't do something, whatever that something might be, that our economy is going to falter, financial institutions will fail and we may find ourselves in another depression type situation. But I just have to ask....would it be so bad, so very very bad, if we all had to learn that you can't have it all right NOW? While I'm outwardly rooting for the big boys in Washington to fix this, a part of me is would really like to see us all suffer.
Sound mean? I know. But think about, for just a minute, what it would mean if we spent the next ten years in an economy where we all had to eat rice and beans three times a week, and we could afford to have our kids in soccer, gymnastics and swimming all at the same time? What if parents simply couldn't afford to give their spoiled teenagers everything they wanted? What if we had to hang on to our old car, our small house, our old furniture, because we just couldn't afford to get bigger and better right this minute? The attitude that we have to have it, and we have to have it right now, is what got us to this place to begin with.
Maybe it wouldn't be the end of the world if, as a nation, we learned some of the lessons our grandparents learned as a matter of course: You have to save before you buy, you have to choose this or that, you can't have both, you can't eat out every single meal and still afford to go on vacation. It would suck, no doubt about it, but what would we all look like on the other side?
The down side, of course, is that we would lose our place in the world. We'd no longer be the financial and political leaders that we are today. That's why I know they have to pass the bail out, and I'm glad that they eventually will. But it makes you think, doesn't it?
make that, couldn't afford to have our kids in soccer, gymnastics and swimming....
Looks like I typed faster than I thought. Sorry.
By the way....my first inclination was to gather up all the money I could find and buy low. I believe that this country is strong and we'll get past this. Those who have the guts to buy in right now are going to win in the end.
I know I've taken more than my fair share of space, so I'll shut up now, I promise.
My back up plan is to dig for gold on the back 40. Hee hee, not really. I have to agree with the essence of the above commenter's statements. I feel very strongly that our greed as American consumers has caused a great deal of the trouble we are now in. I think the changes that are needed have to start with us, learning to live simply and consuming less with greater thought and responsibility.
So there's my soapbox for what it's worth!
Jen
I agree w/ Kate, except I'm not hoping for the Washington boys AT ALL! I think our country is seriously flawed. We've been sold on the lie that credit is GOOD and necessary. I say no bailout, let the bankruptcies and foreclosures begin... bring on the Depression of 2008. I know this sounds harsh, but short of a depression, we will be back in this predicament again - GUARANTEED! I'd prefer to take the pain now & let my children off-the-hook.
And please don't think this is a political issue! This was not caused by Democrats, Republicans, or any other political group. It was straight up greed that EVERY American shares a part in.
End of Rant.