Sep 22, 2008
This is History!!!
The recent economic events will be important in the history of our country. Since 9/11, I have noticed a pattern of greed. In the housing market, lenders behaved like the carpet beggars after the Civil War and made high interest home loans to individuals that could not afford these homes. In turn, this artificially inflated the housing market prices. The is called over-valuation. For example, during this time, the market value of the small bungalow that I live in went from $60, 000 to $120, 000. Unfortunately, many people purchased homes in my area at top dollar with high interest mortgages that they never should have been given in the first place. For example, a woman in my neighborhood was allowed to have a $1200.00 a month mortgage when she only made $800.00 a month. This woman was never able to make a payment on her home and lost it. This has happened over and over to many people across the country and last week, our financial system finally had enough and several large financial groups collapsed. My parents, who had retirement money invested in Meryl Lynch (one of the banks that collapsed), almost lost their retirement savings. I received a letter from my bank stating that my home equity line of credit was frozen due to the rapid fall of the value of my home (from $120, 000 to $75, 000 in two weeks time). I feel that the middle class will be eating the greed of those above us for some time. The Democrats did not comment immediately on this issue. Immediately, the Republicans wanted another stimulus package. Frankly, I feel giving the poor and middle class people another "hand out" is not the answer. I feel the only way to fix these problems is to just take what we lost and have the government regulate banking and lending more carefully. I am willing to suck-up the drop of my home's value and even take care of some of my parent's financial needs for a permanent fix to the economy so my daughter can have a viable future. Look up the Obama economic economic platform and read it. Then answer the following: How can the economic problems in the United States be repaired to insure a good economic future for your generation?
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31 comments:
The economic system will get better by getting a new and better President, Obama. Our problems will change once Obama gets in there and rearranges and fix all the problems that Bush has caused... It's sad that even his fellow republican friends dont want either him or his friend McCain in the office.
I believe that it depends all on the new President how everyone's future will be. It's on the President's decision to make America better than what it is. The bad part is, if we get a president who's like Bush we will not get any better. I believe that McCain should not be voted, I think Obama may save and better America.
I believe that if the government handles the budget deficit more carefully, there will be a better outcome. If they start giving the loans out more considerably, they won't have so much of a problem. Some people who are recieving loans are people who can afford to survive longer than those in middle and lower classes. They wouldn't have to give out stimulant checks if the government would pay close attention to who they are giving money out to.
Voting for a better president, preferrably Obama, would surely intice the improvement of the economic situation. Our future is based really in jeopardy due to the war fares and the job losses are increasing nation wide. If we really start cracking down on some of the major issues and possibly making better economic decisions. I don't feel that we are really making good choices with our money.
i think all we need is Obama in office well help the economic system. i believe that he do have alot of good ideas in mind. I feel he can clean up all the stuff Bush missed up. OBAMA BABY~!!~
I believe that if we vote Obama into office he would help better our economy. He is one of the first people that I believe say's that he wnts to help and actually means it. Honestly, I believe that if they did not vote Bush in for his second term we would be better off. VOTE OBAMA!!!!
I agree with mrs. Atkinson. I believe the best way to fix our economy is to have the government make better choices with how the banks do their loans. Also I believe that we need more jobs in the United States, so there will be a better income per household, eventhough our economical problems cannot be fixed overnight, and we can't leave it up just to our President whomever he maybe. We need to work together as a nation.
I believe that the sooner we get Bush out of office the better. And I think the best candidate for the job would be President Barack Obama. I also think that he can fix the budget deficit, and help out wih the health care.But Barck is a better candidate than McCain,because he's smarter.
I feel that I like Obama's economic plan ause it seems to work for the blue collared workers, who need the help cause that is where economic problems are coming from.
Everyone read the answers posted by Britnie and Kelby. They have the right idea.
Mrs. A
I agree with Kelby cause that is what our econony needs to prosper now. I feel that the problem starts with the taxes.
I also agree with Mrs. Atkinson. The only way to fix the economy is to have the gov't make better desicions but it is not only up to the gov't its up to the people of the United States. We have to standup for what we believe in. A change in the economic system is in the hands of the U.S.
I feel that by January everything should be ok. By then we should have a new president and some his plans should be put in play by then. I also think that this little stunt is so Bush can get some extra money before he put out house
I agree with Britnie. The government just passes out money to the ones that don't need it an just want it out of pure greed. When it comes to lowerclass and middle class that is when they want to start becoming more strict with what they do even though they see them struggling. So Britnie is absolutely correct.
I also agree with Mrs. Atkinson when the government stop handling money in such a selfish way maybe the economy wouldn't be in such poor condition. Also when we have a president that puts the people first and economy will improve. The economy is so bad that even if we do get Obama in office it will still take while for the economy to make a major come back.
No one can really say whats going to happen in the future. We can only give our opinion; my opinion about what should happen for out generation is try yo keep everything as is. I dont see anything wrong with our economy today except for gas prices.(WHICH ARE GOING DOWN)
Josh,
Please use Standard English when you respond to Blogger. This is not Facebook or My Space. This is a classroom forum.
Thanks,
Mrs. Atkinson
Ced,
You are my daughter's age. I don't think she knows or even cares what is going on. It will effect her college education. My home equity line of credit was a way to pay for some of her college expenses. With the drop of the value of my home, I have one less way to help her with her educational expenses. It is good to keep yourself informed about what is happening with the economy. It effects your future.
Mrs. A
I agree more with Ashly. We just need someone in office that'll do good for our country and stop taking sides on democratic and whatever else. People need to just vote for whoever they believe is fit for the job of president. Obama is somewhat young and can relate more to our lives and issues, McCain is a bit too old to be president.
Our future is based really in jeopardy due to the war fares and the job losses are increasing nation wide. If we really start cracking down on some of the major issues and possibly making better economic decisions. I don't feel that we are really making good choices with our money. If the government really pays attention to the deficit, the change would be sufficient.
I agree with Britnie's blog when she said that she believes that the budget deficit is the governments fault. And that they should hamdle it more carefully. I totally agree with her.
I agree with Sarah who agrees with Kelby. We do need more jobs. So houses can have more income. Then we would be able to pay the high gas prices. The system today to me is trying to make the richer, richer and the poorer, poorer.
Its all about the choices people make. I believe that the problems our economy has can be repaired to insure a good economic future by simply making the best choices possible. If the government actually took the initiative to pay close attention to whom they are giving money to then...
I feel that the economy today is very messed up. People can not afford to pay their bills because there arent any jobs. It was stupid of the banks to lend people money at rate in which they could not repay it. Now we need some serious changes to take place. The first change starts with the elected government officials. (Obama for President)
I agree with what Shanaye' said. If people vote Obama in office then more than likely we will end up with a better ecconomic system. I believe that he wants to fix what Bush did. Things are going down hill and he is trying to better it.
I disagree with Ced because almost everything is wrong with our economy. Education, banks, real estate, jobs, and most of all gas. For you to say that it is just the gas thats a narrow minded statement if that was the case why are so many homes in fore closure gas has nothing to do with that so next time think about your comment before you post it.
I agree with what Ashly said. Voting for a better President (Obama) will make our economic system better. There are no jobs available as it is, and if things keep continuing to go the way they are then we are going to hit another Great Depression. Things are ad enough, we don't deserve this.
In response to Courtney's response, I do not believe that it has anything to do with a new president being in office. Even with Obama being in office, all problems will not end as soon as he's elected. I do believe that he will and can eventually fix the situation, but nothing happens over night. One more thing, always check for spelling errors.
i believe that once obama gets in there he will fix what bush has messed up.in plus the government really gets are money that we pay in taxes. i also beleive that taxes might just go up again.
I agree with Kelby the gov't has to make better choices. If things don't change we are going to be in a GREAT DEPRESSION.!
The economy will improve rapidy all we need to do is vote for Obama. "We can't afford for another 4 years of the same old politics" .What I mean by this is Obama plans to create a new economic plan. He plans to create 500 million new jobs by making new sources of energy. Such as, Wind, Solar, and Water energy sources.He also intends to invest in new banks not the same ones that keep on failing
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