This economy has “us” in quite a quandary, doesn’t it? We all want to support our local businesses, because if don’t support them they will close down and we will lose our jobs. Yet our local businesses don’t pay us a living wage, so we are forced to buy things for less money over the Internet! What a catch 22 that is! I hope that when the election is over that the new president reverses a few things so that the large corporations stop shipping our jobs overseas. We are already in deep financial trouble, and we need to work HERE on our shores!
As the economy tightens, more people are finding it difficult to pay their monthly bills. They have mortgages, insurance, auto loans, student loans, credit cards, and utility payments that have to be paid every month. Many people are struggling to meet their monthly financial obligations. Some people are turning to short term loans that charge exorbitant application and set up fees and then high interest rates to boot! Some people are filing for bankruptcy, or going to credit counseling.
It is a sad and scary time. I hope that when the election is over, the economy improves quickly.
Unfortunately I have been very busy the past couple of weeks so I have not been able to “keep up” with all of what’s going on with the big banks, and Wall Street as much as I’d like to be “informed” about the big mess. I know that it is all going to effect each and every one of us in some way, so I like to be informed. I guess I have some homework to do! I did notice in yesterday’s paper that the government is going to be buying shares of some of the big banks. I also heard on the television news that some people are concerned that this big bailout package is bringing our country closer to “socialism” which has been a big “hated” phrase that most people that I know think is a code word for “evil.”
So many people talk about how this country is a democracy, and yet I learned in school that it is NOT a “democracy” it is a “republic” which is different. It would be very interesting to see or hear some news stories about THAT!
I’ve noticed that over the past couple of days that the price of gas has been slowly going down. I understand that demand is down because people are cutting back on their travel to cut costs, as a reaction to the bad economy. I wonder how low the price of gas will go?