Posted by admin on November 5, 2008 · Leave a Comment
The promise of big change was the winner of the election last night, as recent polls showed that for about 75% of American’s their biggest concerns were the economy. For most of us we realize that the economic situation is serious to say the least, and the hope of change is probably the reason for Barack Obama’s success in the election.
Many American’s remain hopeful that the economic situation can be turned around by a new President, but I think that we are all acknowledging that change will not happen overnight. This was especially noted by the votes for Obama which came from states like Rhode Island and Michigan who have unemployment rates that are above 8.7% to date. These people are really feeling the need for change, and are hopeful that the change to a Democratic government will provide just that.
The bottom line is that we can’t afford to keep letting the economic situation get worse, and overall as a country I don’t think that the people were impressed by the recent government bail outs. I didn’t really know much about this, and thought like many that this seemed to be an unnecessary step. After listening to a few financial analysts on the subject I came to realize that if we hadn’t done these bail outs we would have definitely sunk the economy into the deepest depression in our country’s history. By injecting these monies into the banking industry, our government did not improve our financial standing, however, it did stop us from having people starving in the streets, and so from that understanding at least the whole thing makes sense.
No one knows what the future holds, however as an American, I am also hopeful that Mr. Obama can hold up his promises and make some much needed changes in our country.
Filed under Financial Changes · Tagged with afford, bail outs, banking industry, Barack Obama's success, change, economic situation, economy, election, financial analysts, financial standing, government, hope, hopeful, polls, President, starving, unemployment rates, votes
Posted by admin on October 5, 2008 · Leave a Comment
Finances are on everyone’s mind these days, from the rich to the poor, we are all concerned about the financial standing of our country and of our families, but when did this green paper become so important.
With financial times being difficult more and more people will turn to crime, drugs, alcohol. More and more people will go to counseling and get divorced and my question is still why? Have we become a society so driven by the dollar that without it we will just crumble? The answer to that is very simply yes.
While some of us are just worrying about how we are going to make ends meet and pay for the essentials to sustain our families, some of us are actually in a worse financial situation. The rich will feel this financial crunch too, because unlike the poor in this country, who realize that we will just have to generate more income to survive, the rich, who have based their existences primarily on the stock market, the real estate market, and credit cards and loans, will probably be hit even harder than the poor. The lifestyle changes that they will need to undergo to survive this rocky road, will be a much bigger adjustment for them. They will have to give up living on credit and will have to find ways of generating an income through the necessity avenues in this country. They will have to find ways to invest money now in businesses that will be able to survive the financial rough patch, and that could be difficult for many wealthy people.
If you are worried about the financial future of your family, then take action now to sustain your family, we can live without a lot of what we have, we just need to begin to realize the difference between true necessity items and luxury items.
Filed under cutting back · Tagged with alcohol, counseling, Credit cards, crime, divorced, dollar, driven by the dollar, drugs, finances, financial future, financial future of your family, financial rough patch, financial situation, financial standing, financial times, green paper, invest money, invest money now, living on credit, loans, luxury items, necessity items, poor, real estate market, rich, stock market, sustain our families, wealthy people, worse financial situation