1) Consumer confidence stood at a 2 1/2 year high;
2) Regular gasoline sold for $2.19 a gallon;
3) The unemployment rate was 4.5%.
Since voting in a Democratic Congress in 2006 (WHO PROMISED CHANGE) we have seen:
1) Consumer confidence plummet;
2) The cost of regular gasoline soar to over $4.00 a gallon;
3) Unemployment is up to 5% (a 10% increase);
4) American households have seen $2.3 trillion in equity value
evaporate (stock and mutual fund losses);
5) Americans have seen their home equity drop by $1.2 trillion
dollars;
6) 1% of American homes are in foreclosure.
America voted for change in 2006, and we got it!
Remember it’s Congress that makes law not the President.
He has to work with what’s handed to him.
You can make this a Democrat vs. Republican issue but, I don’t believe that’s the root of the problem. Both parites are equally crappy. If there is any blame to be assigned the finger should be pointed in the mirror. Yes, they is us.
America is in debt. From the Federal government, to the state, local municipalities, and the individual. “We” have lived well beyond our means for far too long. That is an American trait, irregardless of party affiliation.
Yes, the rules were changed. Do we truly know the intent behind the rule change? No. Was there a sinister plot? Maybe or maybe not. There’s one thing certain, “We” didn’t have to take the bait. “We” didn’t need to purchase homes “We” couldn’t afford, cars “We” couldn’t afford, gadgets “We” couldn’t afford, on and on.
From my experience, most Americans aren’t very well informed about the world in general. Whether discussing finances, political issues, cultural trends, or something as simple as geography. People just don’t know. It’s across all age groups but, seeming to increase as age decreases. I don’t know if it’s related to television or some other phenomenon.
There is one cultural shift that I do attribute partially to television…consumerism.
I’m 32, probably one of the youngest Pigginton lurkers. So, what do I know. Maybe I’m way off base. Maybe I’m just a fool. In fact, I know I am, for not buying a house I couldn’t afford. Atleast I would have lived like a “rock star” for some period of time. All I have to show for it now is a collection of useless paper that seems to be worth even less with each passing day.
P.S.
There is one good thing about the current economic state. I haven’t had to fend off a realtor trying to convince me that I should be buying a house a can’t really afford.
