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Anyone really worried about the state of our economy?
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I hate to admit it, but I've always just rode through life not paying attention to the economy. I leave that up to those that actually have an interest in economics! But I'm realizing its time to get in quick and understand where our nation is headed. The frightening part for me is that the whole situation is so overwhelming! I think I am going to start small, make sure my investments, savings etc are all secured, pay off as much debt as possible and try to stay positive.
Tags: economy
Replies to This Discussion
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Permalink Reply by Christine on -
I think we can't stick our heads in the sand and wait till things are knocking on our door step. It's great if the economy is not an immediate threat to you, but for some of us it's right in our face. My husband is a carpenter. He was building new houses for years and in the back of my mind I kept thinking, "This can't continue at this rate." And sure enough it didn't. Thankfully my husband can do side jobs for some money, but my budget is tight! And he hasn't had real employment in over a year. We also have no health insurance and we have two kids. Watching the news almost makes me ill these days! And we live in Illinois with the worst history in picking governors! I am praying for things to get better! And for all the ladies on her that are struggling!
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Permalink Reply by Mary Wallace on -
every single american should be worried. but that doesn't mean panic, or give in, or give up. It just means 'be prepared to take some lumps that do not have your name on them'. If you have a subprime loan, if you are an autoworker, this is not your fault. The banks and shadow banks, thru de-regulation, were allowed to create billions of not-real dollars in their loans. Its just that simple. Now those bad loans are bankrupt and banks/shadow banks have no cash, because they lent out thousands of times what they had in cash reserves. I am worried about my kids and my cash flow, as are most americans. I'm stocking away cash in my savings account at my credit union. but the larger solutions are out of our hands, in the hands of the exact same people who created this problem. Except for the larger vision of the people coming in to the new Obama Administration. They understand that the 'market economy' does not work without some oversight. The rich are richer (see the $5000 dress onsale at www.net-a-porter.com, it used to be $8,000, so its a bargain). This is a chance to look at all of our systems from a mom's eye view. We can't have things operate without some loving discipline, some concern for our neighbors and a healthy questioning of 'why are you doing that?' as a mom does to her exuberant, immature children. I believe moms are the solution here.
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