tag:blogger.com,1999:blog-7617735532757054902.post7052879490826682397..comments2023-10-30T03:18:09.340-06:00Comments on Glorious Revolution: 12 Zeros?Kirkhttp://www.blogger.com/profile/12029186564169706455noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-7617735532757054902.post-7392076552765065622008-09-20T00:51:00.000-06:002008-09-20T00:51:00.000-06:00That's sure a lot of zero's! I wonder who actuall...That's sure a lot of zero's! I wonder who actually writes the checks out to all the creditors on payday.<BR/><BR/>It certainly seems unjust for a handful of greedy CEOs to walk away from this mess with their worlds relatively unscathed, and taxpayers are left holding the bag for generations to come.<BR/><BR/>Truth be told, I want to join you in pointing my finger at others, but I have to wonder if we're not all to blame. <BR/><BR/>An overwhelming number of American's worship possessions and riches more than God. All but the wise few have tolerated debt with reckless apathy for too long. For vanity, we've convinced ourselves trade stability for immediate satisfaction. We thought the day would never come when we'd have to pay our debt and the sleepless interest that encumbers it.<BR/><BR/>True, financing companies enticed people to buy and leverage their belongings while convincing many that ARMs, balloon payments, interest-only payments, and borrowing against all your equity were worth the risk. Loan officers were compelled to disregard ethics and sell borrowers loans that would bring the biggest commission. Nonetheless, the Devil can only hand us the rope, but we have the choice whether to hang ourselves with it. <BR/><BR/>Why are we hanging here gasping for air today? Partly because greedy lenders threw caution to the wind and put debt in the hands of irresponsible people, and partly because hundreds of thousands of American's gambled our futures on big homes, flashy cars, and bling when we really couldn't afford it.<BR/><BR/>This week, we were faced with a lose/lose situation. That's life sometimes. If adding another trillion dollars in debt helps us avoid plunging into the next great depression, I probably would have done the same thing the Fed and Treasury did this week. <BR/><BR/>Yet I worry that it was a risky move in futility. Every action has a reaction, and in this world economy there are no minds or machines keen enough to anticipate every scenario. We are completely left to God's mercy. The sooner everyone sees that and drops to their knees to ask Him for help, the sooner we'll start making the right decisions.<BR/><BR/>After we've prayed for that help, we need to get back on our feet and start working. I think this is a horrible time for congress to go on vacation. In my eyes, they are turning their backs on America. Traitors. <BR/><BR/>We need to become energy independent to avoid the further pitfalls of relying so heavily on oil imports. The people and businesses that still have money (and I'm talking real money, as opposed to borrowed money), need to continue purchasing goods and services, wisely investing in stock, real estate, and other tangibles, and spending money on research and development. This is the time for the wealthy to start flooding the market with their bargain buys. We're all co-dependent. If everyone's wallets stay clamped shut, we're doomed.<BR/> <BR/>We don't need justice to help us get up in the morning and live our lives. We would all like to "stick it" to the corrupt CEOs and send our politicians on a long walk off a short plank. But where would it get us? We need to dust ourselves off and keep moving. Let Wall Street take it's fall, but Main Street is gonna stay open.<BR/><BR/>I'm telling everyone that will listen: Keep that food storage handy and get out of debt as fast as you can. If you are prepared, you will not fear what's ahead. We're probably in for a really bumpy ride, but it will be okay in the longrun.<BR/><BR/>I read your bit about patriotism, and I think it's still very much alive for the right reasons. We all have our own definition of what it means to be American. Do we define America as a greedy society that needs to be brought to it's knees; or a productive, God-fearing country that stumbles once in a while but won't let a few hurdles take us to the ground? <BR/><BR/>I still proudly fly my flag outside my home almost every day and have tried to do so ever since I bought my first home. Back then (2002), I thought the world was falling apart...but it didn't.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7617735532757054902.post-32772148443376667522008-09-20T00:07:00.000-06:002008-09-20T00:07:00.000-06:00100% agreed; equally concerned. I'm in search of a...100% agreed; equally concerned. I'm in search of a copy of I.O.USA, the Movie on DVD locally for greater understanding in addition to the media. And I'm in prayer for our nation's security on many fronts - for the next President! H Morgan,FIC, and Financial Advisor, Northern ColoradoAnonymousnoreply@blogger.com