Are you an average American family with two incomes and 2.7 children ?Do you have a SUV and a Truck ?Do your children eat, dress, go to school, take part in after school and weekend events ?Do you take one or two family vacations each year ?
Do you have the average credit card debt of $8,000.00 ?
Have you borrowed any funds from your 401K plan or have you taken out a second mortgage, or a home equity lone in the past 3 years ?
Has your home lost value in the last year..Is your home worth the current mortgage amount you borrowed?
God bless you...you are under a financial burden that is not going to improve anytime in the near future...
Facts:
Crude oil prices will continue to rise to well after the 2009 inauguration.
Housing, due to overbuilding, and tightning of credit will
remain depressed for at least another 18 to 24 months and prices of existing homes will fluxuate between 15 and 20% below 2005-2006 indexes.
Gas prices are expected to be at $4.00 a gallon or more by Memorial day and well above that by July 4th. Gas prices by the first of the year by some estimates could be in excess of $6.00 per gallon.
Transportation cost will continue to rise affecting all consumer goods and hardest hit will be food prices.
Certain countries are already stopping exports of food products expecting a world shortage of certain food stocks.
More and more people are paying for gas, food, and other necessities of day to day living by credit card which is increasing their cost of these items and adding to their overall debt
Somebody....I do not know who...has to stop the madness or the madness will lead to panic, crime, riots, and civil unrest in this country and others.
In this country, we have stopped growing certain crops in favor of crops to support bio fuel technology....which is causing a shortage of grain and wheat crops. Soon the farmers will not be able to feed their stocks of chickens, pigs, cattle, cows, etc..etc..etc....
I noticed a 4 pack rib-eye steak pack in the grocery store and it was priced at $55.78..
proposed changes to Social Security and federal tax codes could result in seniors on fixed incomes having to apply for government subsidy programs by the 10's of 1000's.
This government is not thinking beyond next week, and not planing beyond yesterday to resolve any of the major problems facing this world.
I know one family... she works in a doctors office, and he is a middle manager at a Honda Automobile dealership they have 2 children under the age of 12 and they can not live day to day without going into debt to meet their obligations...They understand their predicament but have no idea how to stop the spiral.
Yet we can spend hundreds of billions of dollars on a war, give 70 million dollars in one month to 3 political presidential want-a-bees while our culture and way of life goes down the proverbial toilet.
WHERE DOES IT END....AND WHO WILL END IT ??
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And unrest all over the world. Unfortunately, it is times like this, financial problems and climate changes, that foment real global upsets. Things like world wars, communism, etc. We may joke and say the revolution is at hand but it might seriously be true.
but thanks for your point of view...lets keep hoping