...two years from now? What about ten years from now? It's not looking good fellas. The bailout's, one after another, can only prolong the inevitable. We are in a downward spiral the depths of which we can not even imagine right now. Is this the fall of an empire? Maybe. Am I worried about my family's future? Without a doubt. Am I pissed? You bet. What can we do about it? Not much it seems. Business's closing on every street. Job after job lost. Savings quickly being depleted. Retirement accounts bottoming out. Pension funds drying up. Health care benefits gone. It's not looking good out there guys. Not good at all. So, I ask you, what will this country look like two years from now? How about in ten?
I do agree it is going to get worse before it gets better. The worst part is that most of middle class America is not prepared to with stand this type of economical downfall. With much of the housing in a state of default, abanking system reluctant to use what it has been given to try and correct the system, and the auto industry in a steady decline; I don't yhink we have hit bottom yet. All that said we are the USA we will survive, when is just the question.
Worst scenario -- it could be like the Great Depression. Massive unemployment, lost fortunes, soup kitchens. Worldwide discontent leading to World War. But it will probably not be that bad. Still, there are going to be years of hard times. It will be important for people to diversify income and cut costs. I expect lots of home businesses and family gardens. Chicken coops in the suburbs. People may have to work in fields they were not trained for if they can get work at all. Luxuries like boats and RV's may have to go. You are right, most of the middle class is not prepared. Survival in hard times is easier if your house is paid for, your job or business is secure, and you have some alternate source of income (wife's job, consulting work, rental property, internet store, etc.). Many young folks haven't had the time to pull it all together yet. Many older folks don't have enough time left to do so.
I was amazed for the people that are having success with their home businesses. I went to a crafts fair hosted by my sons school and 80% were vendors who produce and work from home. Mostly tied in with the green movement, the imagination put into recycling and selling crafts are inspirational. The people are having a hard time keeping up with the demand. One guy roast coffee beans in his garage and resales to local coffee shops and 1 pounders profiting the easy, yet still cheaper mark up. Hard times have folks shopping this alternative, particularly with the holiday season in bloom. Saw a lady taking toss out sterling pieces that cannot be cleaned and painting them up for a resale profit at and above 125%. Retail brings how much crap made in China? Serious, your neighbors are producing right here, buy local if available or check places like eBay, sell it again Sam's and whatever supports building the local economy. Folks are just gonna have to be crafty about placing the value of their dollar. Check you tire pressure, let off the gas early and engine break SAVES GAS. Just because the price is down does not mean you still can't find economy for the gallon.
I have a feeling in two years America will be the richest most powerful country on the planet. In ten years nothing will have changed. Its hard to see it now, but this is still the most innovative country the world has ever seen. This is a country so great that some dude is a millionaire because he figured out you could cut grass with fishing line. I think the years of lax financial planning and heavy debt have caught up with both the American government and the American people. We are going to return to God's and Grammaw's ways of dealing with money. Millions of people now realize that affording the payment isn't the same as affording the thing, We are in the midst of a sobering lesson, but we will end up bigger, better, and stronger.
The only real danger we face is if we allow the political instinct to avoid pain to outweigh the opportunity we now have to adjust expectations, folks' view of risk, spending habits, etc... The current march of socialist meddling is not a great sign. But the fact that an auto industry bailout is raising a lot of eyebrows on both sides of the aisle gives me hope that sanity and liberal democratic ideals aren't completely in decline. Have faith.
Oh you mean like the 700 Billion Dollar Bailout socialist plan that the Republican Bush administration came up with.
