Friday, September 26, 2008

What is Going to Happen?

Anyone else holding their breath? Not only do we not know what is going to happen on Capitol Hill today... We don't know if there is going to be a debate in Mississippi.

I do want to say something here from my personal experience. When we bought our house here in Colorado six years ago we "qualified" for a much higher loan. My husband set the parameters for what we were willing to spend based on what the monthly payments would be. He also would have nothing to do with an ARM. Moving from Mississippi we were quite distressed by what we could afford here and definitely felt we were taking a step or more down. Our realtor kept pushing saying that we qualified for X number of dollars... We were also nearly debt free (one car payment)... which I sure wish we could say now! It is interesting to me how many people I know (and know of) that live in bigger and fancier houses than we do that make much less money... a couple of whom can hardly afford food.

It just seems to me that the lack of personal responsibility we see in this country has now moved on to companies. That is just my uneducated white woman observation. I certainly lack the understanding to even begin to figure out for myself what the right thing to do is in this situation.

By the way, I don't really pay attention to my site meter but ever since I got that nasty comment a few weeks ago, I have been paying attention to the word searches that bring people to this blog. Every day there are several searches for "uneducated white women." One day there were seven of them with those exact words. They come from all over the country... There are also different variations such as, "Palin uneducated." It really bothers me...

13 comments:

One Salient Oversight said...

It's normal to feel uneasy. However the fact is that this financial crisis is the biggest to hit in decades. Some analysts are comparing it to the great depression.

The only thing I suggest is to pay off debt and live within your means. This won't be the end of the world - there will be a recovery - but there will be pain.

BLBeamer said...

If one takes a long term perspective, there are things one can do to minimize the pain - both yours and others. This is what I'm doing:

1. Pay down as much debt as possible, beginning with the highest interest rate balances, including the mortgage.
2. Live within your current means less a cushion for emergencies.
3. Determine the amount of risk you are personally comfortable with and continue to invest for the future. Equity prices are low and will likely go lower. When the inevitable turnaround occurs, you can make some profit.
4. Start or continue to fund your 401-K if you have one, then fully fund your Roth IRA or your regular IRA.
4. Don't forget the poor. Make regular contributions to legitimate, well managed charities.
5. Don't sit around and wait for the government to do the right thing. It may or may not, but you must watch out for yourself.

I thank God He has blessed me with the means to do all those things. Even if you can't do all those things, you should do as many as you can starting with #1 and #2.

BLBeamer said...

In an efort to drum up traffic for this worthwhile blog:

uneducated white women
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Palin uneducated
Palin uneducated
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Palin uneducated

Barack is the Messiah
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Hope that helps!

Two Dogs said...

I took steps last October to remove myself from the tax paying public in anticipation of the really bad choices that we would have in this election. What y'all do in crazy land shall not affect the finances in the Dogs' household because I am certainly not counting on the market to generate any income. I was actually a little late in doing that because I was not that focused on things. I should have been out before July 24, 2007, but I was late.

The bailout of the Democrat financial machine is in trouble. When the Democrats tried to throw further financing into the package yesterday in an attempt to funnel even more money into ACORN and La Raza, even some Democrats balked. The Democrat Party is truly run by fascists.

I am going to post a link dump sometime today with links to documentation showing the extent of the corruption of the Democrats in attempting to destroy our free market economy and to lead us further down the road to their fascist ideals. Hope y'all will check it out.

Over-regulation of our markets and businesses has led us to this point, why would intelligent people turn to the very same people that caused the problem to begin with? Reminds smart folks of how stupid people in New Orleans are, huh?

Just Me said...

I know I'm very nervous because despite my best efforts, I've tried to understand this and I just don't.

Roland Hulme said...

You are a sensible one, CB. It seems ludicrous to me that millions of Americans would qualify for loans beyond their means and not see the obstacle of managing those outrageous montly payments...

As for ARM. I HEAR YOU! I will definitely not be getting one of those suckers (if we ever find ourselves in the economic situation to buy a house) since so many people's mortgages went from 800 a month to 2400 a month or equally insane things.

No WONDER people are defaulting.

Two Dogs said...

Link dump is completed. Come see! Come see!

One Salient Oversight said...

So, twodogs, what's your weapon of choice? Rifle? Shotgun? Handgun? (Remember rifle rounds will go through body armour)

Two Dogs said...

Wow, rifle rounds go through body armor? Magic rifles or magic bullets? Why would I even worry about any projectiles penetrating body armor if I just made head shots? Seems somewhat wasteful to have to buy armor piercing rounds when a .22 mag will bring down a man for less than thirty cents a piece, huh?

OSO, I am assuming that your comment is pointing to my removal from the market and the work force as some kind of wilderness extremist barb? Hardly. I know that the last time that we had a president that was completely anti-capitalism, backed by Congress that adhered to the very same philosophy, the entire world's economy went to hell in a handbasket, even people that barely have electricity and can't read or write, like Australians or Sudanese. I have worked too hard in my lifetime to lose the spoils of my production because the US does not have an intelligence test to certify that one possesses the knowledge necessary to vote, so I protected my earnings from confiscation by Team Obamessiah. I am the Evil Rich that he and his backers hate, even though I didn't make 4.2 million dollars last year.

As a matter of fact, this year is the first year ever in my lifetime that I will be eligible for Earned Income Tax Credit, 'cause I's a Deddy!, and I do not feel guilty about it at all. I probably won't file for it anyway unless the payout is around 1k. No sense in taking money from people that made it, huh?

Yes, I do own guns, because I am a normal American male. I actually use them as well and enjoy doing it, too. Slow cooked venison is great! However, when attacked by a man, I much prefer just hand to hand combat or knives. It's much more fun that way and they know that you mean business. You have not lived until you have felt that fresh warm spray of the claret splashing across your face! I have chillbumps just thinking about it!

As a disclaimer, I do not own a cravat or silk lounge pajamas, so to you I am probably a rube. Bring on the beer and the hot chicks wearing cut-offs!

One Salient Oversight said...

You do realise that the bailout plan originated with Paulson and is backed by Bush?

And you do realise that the seeds for the current economic collapse were sown between 2001-2006 when Republicans had congress and the white house.

I don't know mate, you have to draw a pretty long bow to blame the current mess on Democrats.

Two Dogs said...

I do realize that Paulson is a Democrat and I also realize that Bush has always been a moderate Republican, too.

But, you are so deadfully wrong about this crisis starting between 2001 and 2006. I shall assume that you did not check out my link dump regarding this very "crisis." Again I shall say that I, who you obviously think to be stupid, shall not be affected except for rising prices.

Also, you fail to state that George Bush, to his credit, has taken this very matter to Congress no less than 80 times since 2003 and Barney Frank (D) along with many other memebrs of the Party of the Morons went on television to state that there was absolutely no problem with Fannie. Who, I ask, shall we deem correct? For that matter, can you name one single situation where the Democrats have been right on anything in the last ten years?

The length of the bow that is needed to point the blame at Democrats can only be measured with the most precise micrometer and then the measurement must be rounded down.

But, please don't let facts get in the way of your opinions, OSO.

Anonymous said...

Does anyone else think that the media has been absolutely unfair with McCain/Palin...and treating Obama/Biden as if they are some sort of resurrected political "Jesus" for the masses?

I mean, it has been absolutely absurd from every venue from Letterman, the View, MSNBC, etc...
they are all ATTACKING the Republican ticket while basically slipping twenties to the Obama camp via easy news stories and lots of love and praise.

I realize there is a liberal slant to our media, but this has gotten ridiculous!!!

Jana B.

Two Dogs said...

Jana, there is no objectivity in our national media at all. I remember seeing Walter Cronkite doing the same thing back in the late 1960's. Reagan was vilified to the nth degree when he was running for president and after he was elected. Our media just couldn't figure out how in the world Reagan got elected.

That said, since George W. Bush had the audacity ro run against Al Gore, it has escalated to ridiculous proportions. Remember how they kept saying that maybe Al Gore was just TOO SMART to be president? The very same thing happened when Kerry ran. Too simpering morons were described as being too smart by our media.

Now, we have the Obamessiah. Same thing. Have you seen Barry say one single smart thing during his campaign? No, he sounds like an idiot, and that is because he is an idiot.

And yes, the media has gone around the bend never to return. Print media is losing their mainstream readers in buckets. I have seen reports that the New York Times has lost over 60% of their subscribers in the last twp years. I don't believe that number, but their company's value is plummeting. Papers across the country are downsizing and joining together with other papers to share resources.

You know there is a liberal media bias, when I get referred to as a "far-right winger" when I share the same values as the guys that wrote the Constitution and state plainly the exact same things that they did.

By the way, the far right wingers are anarchists. And they are the ones that destroyed shops and stores during the Republican Convention. So, Republicans are surrounded on both sides by the far left and far right by Democrats. Republicans are by definition, mainstream and Democrats are the crazies on both ends of the political spectrum.

The most hilarious thing that I have seen this political season are anarchists marching with communists in Denver. Contradiction? No, they are just too stupid to know what they are doing.