Wednesday, September 24, 2008
Housing mess and financial crisis
Now that I am on the topic of politics, I thought I would comment on the housing mess and financial crisis. I was listening to NPR this morning about the release of the administration's $700 billion bailout plan. Fine, we have a mess and this is what the experts tell us it is the only way out. I am not happy about paying for it, but what can we do. What got me fired up is the politicians criticism of the plan. If I have to keep hearing again that we need to provide funds for those who are loosing their homes I am going to scream. Since when is having a home a right? I think having a home is a privilege and I am very happy to finally be able to live in one after years and years of apartment living. I am angry that I had to pay (borrow) way too much for it because of people inflating the housing market through their choice in loans that led to them overextending themselves. Now I have a house that is worth much less than I paid for it in early 2005 and I get to pay more taxes to bail out the folks who inflated my housing price. Hooray. I wonder what is the point of striving to behave financially responsible? I guess we are fools.
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Ask Ron about his...he has a great rank about our peers who live to the edges (or outside) their means and whiz past our Civic in their Porsche while we save and live responsibly. Oh, and work our tails off. It is funny that statistics tell me my income is in the 10 percentile, but such a large percent of people seem to be living larger than me :) Someday when we are living off our responsible retirement savings we will need to bail out those folks who where living it up and not thinking about the future. I totally believe in helping people out and most of my "bleeding heart" ideas have to do with helping those who can't help themselves (for example children who didn't choose to be poor and didn't choose their parents), but it is not fair that I work all the time, and save and others don't and I will end up having to bail them out. Hmmm...I guess I am good at that rant too :) Ok, back to being responsible and earning money to fund my own retirement and pay my mortgage.
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