Wednesday, October 8, 2008

Living in hard times

Hopefully they won't be getting much harder but the news from Wall Street isn't encouraging.  I will admit, I was a bit disappointed by the presidential debate last night.  They never seem to really get to the heart of the matter.  And McCain's sudden proposal to bail out people with bad mortgages didn't set too well with me.  OK- so those of us who have been responsible borrowers and have repaid our loans in a timely manner get squat while those individuals who bought WAY more house than they could afford and now can't make the payments get a bailout- what the !*@# is fair about that.  I realize that there are some whose circumstances went bad and who are now in trouble (I have a co-worker in that situation) and I don't object to helping out those individuals but I also know people who don't make much more than I do (not that much) who bought $750,000+ houses and now can't make their mortgage payment.  What a surprise there!  I had a patient come through a few months ago (before TSHTF) who was telling me about one of his friends who just bought a house after having already defaulted on 3 previous mortgages!!!  THAT one doesn't take too many brains to see it's a bad bet.  I think that it's going to take a lot longer than either candidate is willing to admit before things get better.  I just hope we're ready for it to get worse before it gets better.  

My guy started a new job in August.  Right now he is hired as a temp, originally with pretty strong promises that it would go permanent at the new year.  They recently had a meeting where they were informed that the company has been losing money.  Hope his job sticks around or things could get MUCH more interesting around here.

Here's to a better tomorrow.  

Peace.  J

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