It’s kind of like when you have a near-death experience, and you realize, “Wow, I am mortal, and I can die.” Isn’t it? ”It” being the current situation of our financial system. I’m not a financial expert, and I’m going to be honest, I don’t understand the full complexity of the situation. At the same time, I don’t think anyone really does. It feels like everyone is throwing darts and just hoping one sticks.
I don’t really understand how we could’ve really prevented this whole situation. I mean people wanted to buy property and load up on credit, who’s to really say “Don’t do it.” Sure hindsight is great, but really c’mon. To blame the government? Or anyone? Then again, think about it. If someone asked you for YOUR money to borrow, would you have gone crazy? Think you = Some big mortgage company.
I understand the basic concept that if I lend people money, they don’t pay back, eventually I go broke. That also seems to be the basis of all the problems facing our financial systems right now. People lent their money to the wrong people, in hopes of big returns, but in most cases people are not paying back. To fix this problem, the US government is proposing that it will cover all these losses, essentially giving lenders their money back, taking over their problems, and then they are passing on the problems to the general population, which should theoretically lessen the impact to a few, by spreading it out to more. BRILLIANT IDEA! And I think I get it. I wish I could just print my own money…how convenient would that be.
How can the folks in America who have been saving diligently, living within their means, stay safe in this economy? I don’t know. I don’t think there is a “safe place.” Whatever the case, whichever the path we go down, bailout or no, the US is probably screwed–no idea how much. If we don’t bailout, big companies go boom. If we do, there’s more printed money, more US deficit, and more inflation as US dollars would become more worthless. I kind of think the psychy of America is in a current state of disbelief and/or apathy. With a lot of people feeling apathy, because even I ask myself, “What’s all the fuss about? Is this problem really that bad? What’s the worse that can happen?” I just have no idea. Is this problem really that bad?? The fact that I’m asking myself that scares me.
It’s funny, I once wrote about a debate between myself and a friend about saving for retirement and the current situation of all the financials in the US make me wonder, maybe I shouldn’t have been saving at all and just spending. I could point at everyone and laugh as I drive by them in my shiny Porsche that only cost $40k rather than $80K tomorrow. Yay inflation!
If the US $ becomes worthless, which a bailout might do as it pumps up our deficit even more, then why save in US $? Just spend it. Worse, you have crazy people like Ahmajenidad talking about the end of the US empire, and deep down inside, a small part of me thinks he could, just possibly, just maybe, just a teeny wheeny possibly be sort of making some sense possibly. Is America mortal? If it is, who will rise in its place?
America is Losing It’s Greatness, and Nobody Can Do Anything About It — The End of the American Empire
It’s kind of like when you have a near-death experience, and you realize, “Wow, I am mortal, and I can die.” Isn’t it? ”It” being the current situation of our financial system. I’m not a financial expert, and I’m going to be honest, I don’t understand the full complexity of the situation. At the same time, I don’t think anyone really does. It feels like everyone is throwing darts and just hoping one sticks.
I don’t really understand how we could’ve really prevented this whole situation. I mean people wanted to buy property and load up on credit, who’s to really say “Don’t do it.” Sure hindsight is great, but really c’mon. To blame the government? Or anyone? Then again, think about it. If someone asked you for YOUR money to borrow, would you have gone crazy? Think you = Some big mortgage company.
I understand the basic concept that if I lend people money, they don’t pay back, eventually I go broke. That also seems to be the basis of all the problems facing our financial systems right now. People lent their money to the wrong people, in hopes of big returns, but in most cases people are not paying back. To fix this problem, the US government is proposing that it will cover all these losses, essentially giving lenders their money back, taking over their problems, and then they are passing on the problems to the general population, which should theoretically lessen the impact to a few, by spreading it out to more. BRILLIANT IDEA! And I think I get it. I wish I could just print my own money…how convenient would that be.
How can the folks in America who have been saving diligently, living within their means, stay safe in this economy? I don’t know. I don’t think there is a “safe place.” Whatever the case, whichever the path we go down, bailout or no, the US is probably screwed–no idea how much. If we don’t bailout, big companies go boom. If we do, there’s more printed money, more US deficit, and more inflation as US dollars would become more worthless. I kind of think the psychy of America is in a current state of disbelief and/or apathy. With a lot of people feeling apathy, because even I ask myself, “What’s all the fuss about? Is this problem really that bad? What’s the worse that can happen?” I just have no idea. Is this problem really that bad?? The fact that I’m asking myself that scares me.
It’s funny, I once wrote about a debate between myself and a friend about saving for retirement and the current situation of all the financials in the US make me wonder, maybe I shouldn’t have been saving at all and just spending. I could point at everyone and laugh as I drive by them in my shiny Porsche that only cost $40k rather than $80K tomorrow. Yay inflation!
If the US $ becomes worthless, which a bailout might do as it pumps up our deficit even more, then why save in US $? Just spend it. Worse, you have crazy people like Ahmajenidad talking about the end of the US empire, and deep down inside, a small part of me thinks he could, just possibly, just maybe, just a teeny wheeny possibly be sort of making some sense possibly. Is America mortal? If it is, who will rise in its place?
Posted in General
Tags: General, Social Commentary