FDIC Will It Take Care Of You?
FDIC insurance is what our banks supposedly have to cover our money in case the bank that you have your money in goes under. This insurance used to cover up to $100,000 per account and has recently been extended to cover up to $250,000 per account and if your money is in a non-interest bearing account, all the money that you have in an account is supposedly covered according to the new FDIC rules effective until December 2009. Investment and finance expert Suze Orman has been on TV of late for commercials regarding the new FDIC online evaluator, that allows you to check and make sure that your money is insured. My real question to all is, if this system were to crash, would our government really be able to cover all of the money that every single person in the US has in the bank? And the answer in my opinion is NO WAY! Take a moment and think about the movie “It’s a Wonderful Life”. In that movie, when people got wind of the bank’s problems they all ran to the bank to withdraw all their money at once and very quickly they knew they were in trouble. How do you think that our government would handle such a crisis? Do you think that they could just explain to people that their money was invested in their neighbor’s homes and farms? I think not. So is it a good idea to keep all your money in the banking system? I suggest not. I am not saying to withdraw every penny, however, it may be a more advisable to begin to save some cash on hand, just in case. I mean with the stock market so iffy, and the potential that banks and real estate could crash and no credit available, isn’t it possible that you could be left without a dime. I think it is not only possible, but perhaps likely. In any case, it is not meant to scare people, but to take note of where your money is and who has the control over it. It is actually ironic that we are allowing the Federal Government full control over our personal finances, especially since they seem to be such prudent financial wizards, don’t you think?
Why Is The Green Paper So Important To Us?
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.
George W. Bush – Friend Or Foe?
Thinking about finances, brings to mind only one person and that person is George W. Bush. Even if you think he did right thing taking us into war, which was more of a business decision then an act to protect our country, you still have to look at the way he is running this country and ask yourself if he hasn’t created most of the economic problems we are currently facing. Sure he would tell you that it was the terrorists that are trying to us in, and in fact NEED to be stopped, but really what has this war accomplished? In essence, it has created US control of middle eastern oil supplies, which has exactly benefited us how? At least when the Iraqi’s were controlling the oil the price was more reasonable, now that we control it the price is going up and up. The more financial decisions and large corporate bail outs this man makes the more it is costing you and I. Maybe not today, but in the future. You can’t just stop companies and the stock market from crashing by printing up money with no backing to make the numbers look good. That is what is happening here, and in the long run with each move this man makes, dollars come shooting from our pockets. It is a little bit frightening to me that he is driving us further and further into a depression in this country and either doesn’t know it, or doesn’t care. It is my belief that it is the latter. In any case, as a whole, this country needs to put it’s foot down on this man hard. About two yeara ago there was some talk about impeachment, what ever happened to that thought. I know that we are only about 4 months away from a new president, but that still gives him a lot of time to do some major damage. Are we really going to wait for him to completely sink us, just waiting for the new president to step up and fix everything. Even if we pick the right guy, it will take a long time to undo the wrath of George W. We are voting for a human being not a miracle worker.