Just sitting here and wondering what is going on that I should write about today. I am contemplating the state of the country, and it is not very good.
Karl Marx had said something to the effect:
Each civilization has within itself the seeds of its own destruction.
I would quote it but I do not know if that is an exact quote.
But, I digress......I think, we in the United States are there now. Each day the news is more grim and depressing. The rich are getting richer and the poor are poorer and the middle class are paying thru their collective noses to support the rest. How long can we go on with the escalating cost of oil??? I would not be surprised to see riots over food and fuel.
The mortage mess and the increasing debt by people with their credit cards. I read about the lenders, loaning money to people who did not have a chance in hell of meeting their obligations on their mortgages. They really should have known better. It was all magical thinking.
I had wondered for the longest time how were people buying those McMansions, there could not be that many people making that much money, and I was right, there are not.
Where has gone the common sense, buy what you can afford? Save up before you buy, never charge things that depreciate....For many the bubble has already burst....How can people afford to save for their retirement when they can not afford to live today?
The defined benefit pension plan has gone the way of the Dodo. Now it is 401K's and save your own. I read articles on how 75% of the BabyBoomer can not afford to retire. The collective they think the "government" will bail us out, THE GOVERNMENT IS US, WE THE PEOPLE. And we are trillions in debt and that legacy will fall to our children, grandchildren, and the great grandchildren.
Our children will never know the way of life we knew as we grew up. They will be saddled with expenses from outrageous college costs. How will they ever be able to afford decent housing when their college loans amount to the equivalent of a house payment?
What can we do about it? I really don't know. To quote the retired cartoon POGO. "We have met the enemy and he is us."
3 comments:
I agree, sometimes we ARE our own worst enemies. I think you hit the nail on the head when you mentioned living beyond our means. We seem to have become a society that wishes instant gratification...and it just doesn't work that way!
Good entry.
Beth
It takes a long range view to be successful. I have a plan for retirement, and that will be 9-12 years from now (my goal is to retire at age 55). It takes discipline and, to quote my wifey below, "delaying gratification" :o)
I have a defined benefit retirement - lucky me! People who hired in after me did not. (State government) I fear for our country - it's going to change!
xoox
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