And I do not mean for retirement (saving for retirement helps, but most of us are not there yet). From news about food prices going up 18.5% from January – September 2011, the Bank of America laying off 30,000 employees, to the new reports on credit card debt owed buy the average American,,,, I do not think we are going to pull out of this recession anytime soon.
The US government has spent so much money, that we will never be able to pay it off. Our great-grand children have been saddled with such a great tax burden, that there is no hope for the future generations.
This Bank of America is a troubling sign. Banks do not like to lose money. In fact there are all kinds of laws to protect banks from losing money. It was just a few months ago that the Federal government cut the banks a blank check, most of which went to performance bonuses.
If you judge the health of a nation but how stable its banks are, and one of the largest banks is laying people off, what does that say? It says the USA is in some deep crap.
Here is the problem, either the USA is in deep crap, or the bank is not going to meet earnings reports and needs to trim off some excess fat. But either way, 30,000 people out of work is not a good sign.
Part of the problem is Americans wanting to live a fast and furious lifestyle – like the JG Wentworth commercial says “I want it now!” And that is how most Americans live, they want that brand new TV NOW!, they want that new laptop NOW!, they want that new flat screen TV NOW!,,,. So what do those people do? Do they save their pennies and pay cash for something? Nope, they slap down the plastic.
Talk about easy, just pull out the little plastic card and buy whatever you want. Whether its a new TV, Blue-Ray player, stack of movies, new shoes,,,, plastic has you covered.
But then the bills start coming in, and with interest. Before you know it, your entire paycheck is going to “just” the interest on the card balance? When the card every get paid off? Maybe in a couple of decades.
It is that type of irresponsible spending that has dug this nation into a deep hole, a hole so deep that its doubtful we will ever recover.
Its not “just” the peoples fault, its also the governments fault. All of that money we are sending to third world countries cost money to. Do not send those people grain or corn, send them tractors and plows, and let them grow their own food. Send them machinery to dig a well so they can irrigate the fields. Make those people independent so they no longer need help.
What does our government do? They keep spending, and spending, and spending,,,, who cares where the money is going to come from.
Banks need a bailout? Sure no problem, here is a blank check.
But sooner or later “someone” is going to have to pay the bill. And who are those “someones”? Its not the people over-seas we have been feeding and helping, its not the chinese that have been getting our jobs for the past 15 years,,,, so “Who” is going to pay?
“We” the people are going to have to pay. But pay with what? Unemployment is not going down, no new jobs are being created,,, but the economy of china is booming. The growth that china is growing through, that is what happened when people have jobs.
Here in the USA, our roads and bridges are falling apart, while china completes some of the biggest construction projects in the world. What has caused this? Free trade has caused this. The past presidents have sold the people out to benefit the bottom line of big business and the people are paying the price.
And what has allowed congress to send our jobs overseas? The people have not been paying attention.
While the people slept, companies have sent vultures into congress to scavenge what they could. The NAFTA treaty was signed by Bill Clinton, but Clinton ran on a policy of anti-free trade. And what happened? Bill Clinton was reelected.
How stupid can the people be? They elect backstabbers into congress and into the office of the president, and then re-elect the same backstabbers into office again?
Who is the blame for the situation the USA is in? Place the blame where it deserves to be laid, at the feet of the people. If the people had been paying attention, and voted differently, things “might” have turned out differently.
But instead of voting for a third party and giving someone else a try, the people keep voting the two same parties into office over and over.
If you want real change, vote like it and vote for a third party.