In the most suitable words of my Brother..."someone has hit the reset button on the economy!"
What does this mean for most of us?........For many it may mean being downsized, layed off, relocated (if you're lucky), or taking a cut in pay in order to continue working so you can support yourself and family. For others, it may have more far reaching consequences; such as, a total loss of your job, elimination of a pension or benefits, or a total collapse of personal finances. Any way that you look at it, this next year or so will be a roller coaster for nearly everyone around the world!
So what caused all of this? That may depend on who you ask, but since this is my blog, I will give you my perspective on things.
First off, it was most definitely caused by greed.....from the rich to the middle class.....everyone wanted more of everything and had a "Devil may care" attitude about how they got what they wanted. The Banks (meaning all lending institutions, including their investors) saturated the media with advertisements for borrowing to pay for EVERYTHING from cars to houses to non-essential "things" that people want, but can't always afford. By media I mean papers, magazines, television ads, internet ads, etc....
Remember "Life takes Visa"!, Tell me that doesn't scream CREDIT, CHARGE, C'mon you know you want it! You know all the ads I'm talking about......No Money Down!, Sign & Drive!, Buy a $300K home for $762 per Month!! and on and on and on........
And you know what made this mentality so bad? The companies themselves bought into their own philosophy, which was unltimately what put us in this current economic situation. They leveraged themselves to point of no return, and now that the bubble (that they created) burst, they have the gall to act surprised?? Pahleese! These are supposed the smartest and brightest people people from all over the world; they knew what they were doing couldn't last, but they couldn't stop themselves from doing what people do best......be greedy and selfish. They were making lots of money and they wanted to make even more; and when they more money, they wanted even more.........."BOOM!!!!" It all blew up their faces; and ours. Thanks alot.
So now, once again, the working man will suffer because of the Rich Man's greed and selfishness, we will once again be called upon to make even more concessions to "Help" get the economy back on track. Let me clue all you Bankers, Lawyers, Business owners, Silver-spoon using Schleps....... Guess who chooses to buy your products, or use your services? THE WORKING MIDDLE CLASS THAT YOU'RE SCREWING!!!!! If you want to continue having your cushy lifestyle I suggest you remember who you need for that to happen...The Middle Class is "the consumer" that drives this economy, if you screw us, you screw yourselves.....that's just how it works. If no one is buying anything, you can't make any money; if we can't make any money, we aren't buying anything! Seems kinda "Oxymoronic" doesn't it? Sorda like paying yourself, only with a better return! Think about it and start believing it; it's friggin economics 101.
So here's the other part of economics 101; If you keep importing your goods and outsourcing your services, you're gonna be out of a job too.....try to follow the logic here: If no one has a decent enough job to buy your products or use your services, where are your consumers going to be? (Let me clue you in...) YOU WON'T HAVE ANY!!!
The Economy has been reset people.......buckle up, it's gonna get bumpy!