As reported last evening almost 51% of all homes in America are now worth or less of what the mortgage is. If we consider that other major asset [your car] and take it to a dealer for appraisal on a trade you most likely will find out it is worth auction price or about 1/3 of retail and perhaps by the same person who sold you it in the first place and the same bankerwho gave you the loan. Yes, our neighbors. Now if we throw in the real worth of your paper dollars, you are definitely poorer in all ways then you were last year at this time.
In truth even the haves are reduced financially by a considerable number, however, do you think they are worried about $4.00 or $5.00 a gallon gas prices or their portfolio is down? Do you really? Complain certainly, fill er up. So many of us are, as one car sales person says, "tanked". Your friendly banker, well as I stated they are not so friendly any longer. Sales sliding, assets diminished, debt rising and low wage jobs, fuel prices soaring, no benefits and it all equals what? Hello you have type business owners, are you next?
Well our Washington experts in government say everything has bottomed out and they are correct. Almost every average American has hit rock bottom. The President still gets cheers from his types. So don't be fooled when they talk about good. Good is relative to them. First of all we should expect such with an election only a few months off. Do you really expect them, that is except these professors of change, our candidates, to say anything negative? Common now your not past bovine are you? Factually if you bother to look they do everything they can to avoid a problem for Big Business and the haves. One can presume you are a have if you like them?
So lets review where we average working families are today in America. Yes when I say we I exclude the 85% of America that has, votes and is who in my opinion really counts in Washington's perspective. Yes, to bore you once again and "that's a fact Jack" as the line in the movie goes.
I'll give you the words that best describe this economy and this nations situation which is fact not rhetoric, appeasement or guess work in relationship to average working Americans. Do these words sound familiar?
1- Outsourcing.
2- Unemployed.
3- Dead end low paying jobs.
4- Higher debt.
5- Foreclosure.
6- Delinquency.
7- Bankruptcy.
8- No benefits.
9- Past Due.
10 Over the limit.
11 No retirement.
12 No future.
Stimulus, what, for the haves? The working poor and those that really need get "reduced" payments. Rhetorically speaking, it is a rebate you know and you should kiss their feet they gave you anything at all.
Oh, too pessimistic and sarcastic? You prefer to be optimistic? Well if you have you certainly can always be. Hope and faith are not negatives just not needed by those who got. However, when we come back to reality and get past hope and faith we still have to deal with the issues at hand. I guess it is a bright spot that the haves can make money off of someone else's sorrow? Its buy low sell high, heaven on earth, so in my opinion regardless of what is said, you will always find that "friendly lender". Yes because even with all this nations woe the percentage of have's is high. High meaning grossing over $65,000 a year. Yes about 85% of the population. Do not forget that although not admitted by those who do have it is demonstrated in their enthusiasm for this bunch and their life style or their apathy. Either way it amounts to more of the same.
The rest might ask how can they still be enthused when even their own children are impacted and certainly our nations future? Well in my opinion it is an individual thing. It is no longer for the common good. It has been supplanted by what is good for me. Profess all they want. Go to church all they want. Strange, perhaps the church only is good at professing and also approves of them? The Christians of old gave you the boot. Not today, got a buck, seem important, "come on down" as the game show goes. Perhaps it is more of the Easter Bunny?
No judge them by what they do or fail to do, the works of their hands and the fruit of their labor and if you find you are in agreement with them then you are by nature of that acceptance and in my opinion you can only be a bird of a feather. So be upset, profess, ignore but you are in my opinion what I have just stated, like them and no church is going to change you. Only you can change you.
Now as I have always said having is not a bad thing. It is the desire to accumulate more and more and what you do with it that is the issue at hand. So even though you may be one of the haves, know this, every thing that was a major asset might be worth about half of what it was or less. The man across the street in financial duress owes $165.000 on his dream home. He sunk a considerable number of dollars into it. The bank wants $125,000 on a short sale. He got an offer for $55,000. Hey there is always a helping hand, a smiling face, someone to be there for you, right?
So my friends only the haves go to Europe or outside the nation for a holiday or vacation. Only the haves drive those big SUV type vehicles and buy up homes in duress. Only the haves, while complaining, can still afford the better things in life. Yes, why worry about the mundane, health car elderly care, children eating. Yes even to throw away that stimulus on some worthless for the moment material item. As for the 15% going, going, gone. Well you got what you wanted for you and yours. Just recognize everything you ever dreamed of having, got, and financed, is now worth less then what you owe the bank and sliding. Yes you owe your soul to the company store and those in government say, everything is better. Feels good doesn't it because many of you, yes you, show up and cheer for change at these candidates rallies? How terribly sad.
So here is the good news as they say. That home that isn't worth what they say it is, well get this, you never owned it THEY DID. You just got to pay them 2 and one half times or more what you borrowed over thirty years and even if you got down to the last dollar owed them and you didn't pay, guess what, you got it, they would come and get it no matter what they profess. So your just giving them back what they had to start with. That "unsecured credit card. Well they pushed you over the top along with our politicians who people rave about how great they speak and what they want to do and the haves could care less. That says it all about them. Yes and those auto deals you are always making. Yes, taking the car dealer to the "cleaners". Give me a break. If you believe that I know you are a good candidate for a bridge.
Now do good people want to default? Forced into foreclosure, bankruptcy? Well let me ask you, why would good people place you in the position to have to even consider doing it to survive?
Professing, change but mere hollow words if and I'll say this again, if you really took the time to know them for their works and what they have done for you or better yet failed to do then most likely wouldn't be elected. However, they are doing fine by you so there is the answer to it all. Yes they talk well. Well while many get irate for making this comparison it tells you about them, Hitler was one of the greatest orators this world has ever known, fact my friends, comparison and just example relating to speech. Yes and Hitler told everyone exactly what he intended to do, over and over and over and you know what, MOO! That really sums it all up.
Now right here in Florida they are thinking of dividing the state into two parts. Yes, the North and the South. The southern part feels they are being taken. As for me I have written so much to this state I should have had a novel. You know something there are still words upon words upon words about this state that are yet to be written. Yet here is the kicker. The haves all over this land love to talk about our governor as a Vice President. Yes he talks and looks good as well. It is after all perception and marketing, MOO.
Well many are considering just starting all over again. Handing in the car keys, the house and walking away. Oh, they'll ruin your credit? They already have and get this, there is always someone looking to make money by leading money, always especially in America today.
Robert T. Melaccio Sr. 2008 Copyright 2008 Robert Melaccio
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