I am not much of an investor - I really don't have the extra to invest but I do have a whole life insurance policy and a retirement account. Both are losing money. I am disgusted. I was going to cash in my insurance policy three years ago but a financial planner encouraged me not to, reminding me that I hadn't recouped my investment yet. Now it looks like I never will. I am disgusted. What is it about banking that breeds this kind of financial atmosphere? This is the second bailout in 20 years. How can these well respected companies have to much disregard for their client's money? Now they expect to not have to deal with the consequences. CEO compensation make me sick. I have realized that the quickest way to get wealthy is to become a CEO, run a company into the ground, then collect an overly generous severance package on your way out. Why do boards and share holders allow that?
Every day I turn on NPR and hear nothing except how the housing market is continuing to slump. More and more forclosures. The kicker is that now it just isn't people who bought outside their means that are losing their homes. If I can support a wife and six children on my salary (which is miniscule compared to that of a CEO), why can't everyone else? Really, how much money does one need? LIVE WITHIN YOUR MEANS. If you bought more house than your salary can justify, you deserve to lose your house. You have no right whining that that is not fair, that my tax dollars should be spent to fix your lack of judgement.
I am not a fan of John McCain but after hearing the whole Democratic party cry for more money to fix this problem, I am surely not going to vote for a Democrat this time around. Maybe I'll write myself in.
It all started with Michelle Lewis from Ohio, and Jason Clark from California. We met on a bus in Chicago in January of 1992. This is a blog that documents our crazy life.
2 comments:
DITTO! The whole mortagage thing makes me sick. We've lost a ridiculous amount this year in our stocks. Everything we've put in this year is pretty much gone. We're hoping it'll rebound a little in a few years. At least this has given me the kick in the butt I needed to get our food storage really going.
I agree with you, Jason. We didn't buy a house until we had 10 kids. Even then, without family help we couldn't have done it. But we waited. We bought the one we have now as a rent-to-own and made a good purchase. But again, we waited. We should probably sell it now but it's not a good time because with the cost of fuel, etc., it's getting harder and harder to meet the mortgage. We have never been late or behind in our payments. We have waited nearly 40 years and still have never purchased any living room furniture. I long for something decent - but it's consumer debt and we can't afford to do anything extra except try to keep our heads above water on monthly bills.
We have seen so many young families buy large houses in our town and then have to sell within a few months because they couldn't maintain the payments. Why do young couples think they can have everything their parents took years to accumulate?
The whole credit issue is wrong. The bail-out is worse.
I don't think I will vote at all this year unless I write in one of you.
Mom
Post a Comment