A nation in trouble..

I'm worried. Our economy is in trouble. I don't believe that there is a perfect solution & won't even begin to think I know how to fix this. Everyday it seems like another bank is failing.

I think that this will affect everyone. This is how I think that it will affect me. I'll be paying more taxes to cover this huge bailout of AIG & so many banks. PLUS I think we'll see a decrease in spending. I actually am a huge supporter of this & believe in purchasing something only when you can afford it BUT a decrease in spending affects everyone. As an example, Chris (my hubby) sales advertising. Chris is paid mostly on commission. As businesses fail (because we aren't spending) they won't be advertising. Other examples are the jobs that will be lost, the businesses that will fail, homes will be lost.

Regarding the housing market. This is probably the saddest thing. It's disappointing that there was so much corruption. I do think that the homeowners hold some responsibility though. An ARM loan sounds great but that was a huge part of the problem. When we were looking for our first home the first mortgage company that we talked to tried to convince us to get this type of loan. The positive was that the interest rate was low to start with & could stay that way. I'm conservative & I told Chris I wasn't comfortable with this type of loan & didn't like the push in this direction by the mortgage company. Thankfully we made a different decision & I wish so many others had done the same thing. I also hope to see the end (I think they might already be gone) of 100% financing. If you can't afford a down payment you can't afford a mortgage. So many go into a home under a false sense that they could afford it. Homes are expensive. There are so many expenses that you don't have when you rent. Sometimes the excitement of a home clouds our judgement. SAVE, SAVE, SAVE, before you get into a home.

I do want to mention that I think there are unfortunate circumstances that may cause someone to lose there home & it's out of their control. Examples may be a medical emergency or loss of a job. These things aren't forseen & you can't always plan for it. I just don't want to see anyone else lose their home because they were greedy & wanted more of a home then they could afford.

This morning I was with some ladies from our ward & one of them had mentioned that they've been trying to sell their home since February. Her husband got a new job in Salt Lake & her & her three children have stayed behind to try to sell their home. I'm sad for her...this has to be a HUGE trial. It's hard with the market the way it is to have a lot of hope but her attitude was great.

I wish I knew the perfect solution at this time. I try to listen to recommendations & can only hope & pray that our country will choose the best one. I'm very happy that Senator McCain has chosen to suspend his campaign so that he can get to Washington & try to assist in fixing this problem. Although I think it may be politically motivated this is where he needs to be & this is what he should be doing. It's his job. I only wish Obama saw it this way also.

I hope that all of you will be impacted minimally; I think everyone will be impacted. Be wise & work hard!!!