Human Greed Lies At Root Of Economic Crisis..NO TO THE BAIL OUT!

On September 23, 2008, Talk of the Nation had a very interesting discussion on the Economic Crisis. The question they posed was:

"As Fed and Treasury officials scramble to secure a $700 billion rescue for faltering financial institutions, economists are pointing fingers of blame at just about everyone: lenders, bankers and borrowers. Does greed lie at the heart of the financial meltdown? Is Main Street just as culpable as Wall Street?"

Their premise basically is that Human Greed on all levels, has caused the American Economic Meltdown. With so many people taking out refinances on their homes, seeking addition credit for home expansions, decorating and of course, all of those amazing things you "just have to have", such as, the latest and greatest car, motor home, water bike, motorcycle and don't forget all of those electrical gadgets!

It has been stated that today, Americans own less of their homes than at any time in history due to all of the home equity loans and consolidation loans that have been a common practice in our country over the past few years.

I remember growing up in Alabama, where home ownership was the most important thing. Having your own land, where you could claim as your own.... I grew up with my maternal grandparents. We lived in a upper middle class home, sitting in the middle of five acres. Next door to us, was my grandfathers Sisters home, where she lived with her husband and my great grandfather, who originally owned 100 acres around where we lived. That 100 acres had been divided time and time so that the next generations could have a piece of the family land. That dirt...meant a great deal to my grandfathers generation....and especially by great grandfathers generation. He grew up in the Great Depression...as a sugar cane farmer. He tilled the land and worked hard for all that he had and he was very proud to share that with his family.

Today, I see many people who are seeking home ownership, and find that the prices are out of reach for them. They long for that same type of comfort, of a place to call HOME. I can see why people embraced brokers and lenders, who approached them and told them that they could obtain their dreams....Some, took advantage of this opportunity to do the basics, get a home for their families....others....wanted the biggest....the best....and stretched their finance boot straps, to obtain...what they thought was, their dream. To them, it looked like a win win situation. Yes, they would be giving a lot of money to the broker in fee's, plus loan origination fee's, high interest to the banks...but they would have their DREAM....the AMERICAN DREAM.

At the time these types of loans were popping up in early 2001...the economy was booming. Most people had a good paying job, with nice benefits, energy costs were a good 30% plus less than today’s costs....why would one not be able to maintain their AMERICAN DREAM?

Then the layoffs began to hit, people who had been secure in their jobs, found that they were on shaky ground...Unemployment rates reached into the 6% range here in Oregon...and for those who were able to find a new career or a basic JOB after this...found that their pay checks were much smaller than before. It is true what economist were saying, the job markets were growing, and showed growth. But what they failed to take into consideration was that the jobs that were being created did not compensate for the ones that were dissipating. The median pay range had decreased. The comparisons that most economist used was flawed. They failed to look at the pictures as a whole...not just how many was employed, and how many new jobs were created...but what was the correlation between the pay of the newly created jobs vrs the pay of the dissipated jobs.

From 2001- to today....the average pay that American's receive, continues to downward spiral for those that are laid off...companies have to tighten their belts the same way we do when our income is less....that means for us, we buy less....for companies, they pay less and hire less.

Combine the" pay less and hire less" situation with that of an over inflated housing market...and you are set for total disaster. I have looked at the JONES down the street for awhile now...and wonder...how in the world can they afford what they have...the answer, clearly...is DEPT!

The basic reality is American's do not have enough income to support their American Dreams. Home ownership is out of reach for most. With the average home costing over $300,000 in Oregon, not many can afford the $2000 plus per month house payment.

Here in Oregon, the Median Two Income Household income threshold is $68,333, for a family of our size. That would be $15000 in annual average taxes which would bring it down to $53,333 per year. Then go ahead and break that down to monthly....$4444 per month. Now, with gas prices, the cost to go two and from work with an average commute of 15 miles one way, would come to about $1200 per month. Food for a family of 6...$1000 per month. Energy costs and other utility costs would be at least $500 per month (electric, garbage, natural gas, water, sewer, basic telephone, etc). That brings you down to $1744 per month for housing costs, car payments, credit card dept, health insurance, medical co pays, prescriptions etc.

Clearly, you can see that there would not be enough left for that type of house payment. The most you could hope for would be a house payment around $1100 per month....that would be a house in the $150,000 range. Half of what the average home goes for today.

With the greed of wall street wanting more and more profits, the greed of main street wanting the biggest and the best and the newest of everything....we have found ourselves in a quagmire.

A Economic Melt down....of epic portions.

Large companies such as AIG, Lemon Brothers, Fannie Mae and Freddie Mac....all collapsing because brokers set these loans up in a way they knew, the average home buyer could not afford, but they played both on the dream of home ownership...and the human nature response of trying to keep up with the JONES....Brokers new they would be able to sell the subprime mortgages to Freddie and Fannie....they wanted to pass of the risk...now...the risk is a reality...one that all Americans are facing.

The average American taxpayer, can not afford the colossal burden required by each household to bail out these poorly ran companies. If it is true, that the bailout is now exceeding 1 trillion dollars....that would boil down to approximately $10,000 per American household. That is clearly and undo burden, given the numbers I mentioned above.

The market is showing a regular resetting of its self. Over valued homes, over priced stocks, are balancing themselves out. We need to let the market do its job...it needs to level out on its own. That may mean some people will suffer...especially in the housing market...and I feel sorry for those who are going through this trial. But their suffering shouldn’t be carried by every tax payer in America.

Earlier today, Federal Reserve Chairman Ben Bernanke warned the financial crisis could drag the U.S. economy into a deeper downturn and urged Congress to take action on a proposed bailout package. These GOTTA ACT NOW comments from both the Fed Chairman and the Treasury Secretary Henry Paulson...speak to the human factor of rush to aid, and not scrutinize what they are asking. Chairman Bernake said today:

"The intensification of financial stress in recent weeks, which will make lenders still more cautious about extending credit to households and business, could prove a significant further drag on growth," he told the Joint Economic Committee. "The downside risks to the outlook thus remain a significant concern."

I think Rep. Mike Pence of Indiana said it best when he said:

"I must tell you, there are those in the public debate who have said that we must act now. The last time I heard that, I was on a used-car lot," said Rep. Mike Pence, R-Indiana. "The truth is, every time somebody tells you that you've got to do the deal right now, it usually means they're going to get the better part of the deal."

American deserve the "BETTER PART OF THE DEAL" on this one...we deserve the marketing adjusting itself back to reality...a reality where Americans work hard for their dreams...and can afford the basics of life...Shelter, Food, and Heat.

The American Dream is today as it always has been....That piece of dirt to call your own....Maybe now, when the market settles, more Americans will have income that can afford lower home prices...Lets urge congress to look at the root cause...lack of jobs, lack of sustainable income for the jobs we do have....and the inflated cost of the housing market. These people on wall street do not need our help...especially given the fact that Lemon Brothers gave their chief executive officer at $64.7 million BONUS last year....that above his own salary...you can not tell me he deserved that type of bonus for encouraging greed among brokers and the ultimate down fall of the U.S. Economy....

Please speak up ....let your voice be heard...call your Senator and Congressman...Let them know you do not support the bail out!

AND TO SENATORS MCCAIN AND OBAMA….IF YOU WANT MY VOTE…SHOW ME YOU CAN FIX THE ECONOMY AND PROVIDE MORE JOBS FOR AMERICANS….THAT'S WHATS IMPORTANT TO ME!

Ten Reasons to Oppose the Wall Street Bailout

Ten Reasons to Oppose the Wall Street Bailout

1. It costs $700 billion dollars, which is as much money as the combined annual budgets of the Departments of Defense, Education and Health and Human Services. It amounts to $2,300 for every man, woman, and child in America.

2. This $700 billion will all be borrowed money. The plan raises the national debt ceiling to $11.3 trillion. That is $11,300,000,000,000.

3. It gives Sec. Henry Paulson, formerly the head of Goldman Sachs, the power to buy assets from his former firm with no court or administrative oversight.

4. Goldman Sachs, like many Wall Street firms, gave its CEO a $67.9 million bonus last year. That is more than 1,400 times what the median American earns. Yet the plan has no provision to cap salaries or reduce bonuses at Wall Street banks that take taxpayer money.

5.The bailout has a "reverse dutch auction" format that allows Wall Street firms to set the price taxpayers will pay.

6.The 5 companies managing the bailout auction are also Wall Street firms, and will likely receive billions of tax dollars in fees.

7. The plan buys "troubled assets" from foreign banks.

8. The plan hurts responsible U.S. banks by keeping reckless, insolvent investment banks in business.

9. The idea that taxpayers will make money is a fraud. If a profit was possible, private speculators would readily buy these "troubled assets." Instead, the bailout lets Wall Street push its losses on the taxpayer.

10. The plan violates basic principles of American capitalism by creating a system of "private profits, socialized losses."

Do you have HONOR???

Earlier this year, my husband and I watched a documentary on WWII. The thoughts and feelings that I gleaned from this show, truly touched me. I remember feeling overwhelmed, by the sacrifice and selflessness of many of the people of that error.

Particularity, the history of the Japanese Americans and the personal sacrifices that they made when they joined a segregated battalion, and the same with the black battalion. If you hear many of these peoples story's, they each talk about their personal desire to give back to our country for our freedoms and liberty's....a desire to fight for democracy and freedom.

I was impressed by one of the Japanese Americans speaking on personal honor....and the honor that he and others within his family and race had....including...fighting for our country and giving back to our country. The fact that he would do "nothing" to dishonor his family or his nation...touched my heart...can you imagine how great this country would be today, if only our youth of today had these same convictions?

What about us as a society....what if we had the honor of this generation?

Traditionally, in Western society, honor figured largely as a guiding principle. A man's honour, that of his wife, his family or his beloved, formed an all-important issue: the archetypal "man of honour" remained ever alert for any insult, actual or suspected: for either would impugn his honour.

The concept of honor appears to have declined in importance in the modern secular West. Since I grew up in a more "gentlemanly" society, The 'Old South" (Alabama). I grew up with an ingrained since of honor and respect. I also have many family members who were in the military, and there, is a emphasis on the importance of honour. Also, having three sons, all of whom have been or will be part of the scouting program, honour is taught and instilled.

HONOR- is the evaluation of a person's trustworthiness and social status based on that individual's espousals and actions. Honour is deemed exactly what determines a person's character. Honor is as real to the human condition as love, and likewise derives from the formative personal bonds that establish one's personal dignity and charicture.

Honor- goes beyond just going along with laws and requirements for being in this country....it is ingrained into whom we are...Honor, integrity, value and love....these are the things we need to charitirize for our children and our youth.

This type of honor....is personal.....it is real...it is true.


Ask yourself, do you have HONOR?


"Mine honour is my life, both grow in one. Take honour from me, and my life is done. Then, dear my liege, mine honour let me try; In that I live, and for that I will die." — William Shakespeare, Richard II (1.1.182-185)

Joe Biden....Obama's Downfall.....

On Tuesday, September 9, 2008, Democratic vice presidential nominee Joe Biden suggested that if Republicans are so concerned with special needs children, they'd support embryonic stem cell research.

Speaking to voters in Columbia, Mo., Biden said: "I hear all this talk about how the Republicans are going to work in dealing with parents who have both the joy, because there's joy to it as well, the joy and the difficulty of raising a child who has a developmental disability, who were born with a birth defect. Well guess what folks? If you care about it, why don't you support stem cell research?"

As a parent of a Special Needs Son with Aspergers Syndrome. Mr. Biden's statement on Stem Cell Research and the Republican Party clearly shows his narrow mindedness and outright stupidity!. He pruports to support the underdog, He pruports to support the middle class.....when clearly his actions and comments in no way do either.

Mr Biden apparently feels that children, or adults for that matter, who have a development disability are somehow flawed, need to be changed...need to be fixed. I suggest that Mr. Biden visit Wikipedia and learn what embryonic stem cell research does.

ES cell therapies have been proposed for regenerative medicine and tissue replacement after injury or disease. This does not include Developmental Disabilities.

Biden's support of stem cell research is at odds with the position taken by the Republicans' vice presidential nominee, Alaska Gov. Sarah Palin. I feel he is taking a despicable blow to Governor Palin's belief, especially given the fact that Governer Palin has a 5-month-old son, Trig, that has Down syndrome.

Governor Palin, who states she is an evangelical Christian, opposes embryonic stem cell research because it involves the use of human embryos. However, her running mate, GOP presidential nominee John McCain, does support stem cell research involving embryos.

Again, Joe Biden clearly shows his ignorance on the subject and for his opponents for that matter. His intolerance and dirogatory comments for those with special needs, and his underhanded comments show his true character......and given the fact that he clearly is not aware of what benifts ES brings...or what a developmental disability is....shows either he doesn't care or he truly is the most uninformed canidate in this election!

ES is not the answer. Any use of human embryos is wrong. I am the first one who wants to find cures to disease and a way to repair injuries. But buying into the fallacy that taking human life to create human life is wrong.

I will do everything in my power, to share with everyone I come in contact with over the next few months, to ensure Mr. Biden and his presentational running mate are not elected. As a parent, I can not afford someone like Mr. Obama and especailly, Mr. Biden being in the white house.

Finally...had enough...

Well...after years of discussions with family and friends...I have decided to start my own blog. There are times in which, there are things that are just to important to let slide. I plan on using this blog to address issues that relate to my small world. A typical family, parents with four children who are trying to navigate this world...in the best moral and ethical way possible.

I come from Alabama....where from a young age, I was taught respect for others, respect for others property, taught right from wrong, and actually had consequences when I made a poor choice.

I find myself now raising my children in one of the most liberal environments possible...just outside of Portland, Oregon. Here, I battle daily to instill in my children the things that I value most. A love for God and Country. Respect for their elders, respect for their teachers and respect for each other. I strive to instill in them self respect and individual worth and the knowledge that they can achieve great things. I want them to have civic pride and involvement, to serve others and to be a part of their community and understand what being a "citizen" means.

Many Oregonian's, I have found over the past 15 years of living here, have a difference of opinions when it comes to natural consequences for poor choices. I hope to use this blog to put out in front of all who read this....that consequences, boundaries, high expectations and love, are what our youth of today need to succeed.

Please feel free to visit often, I am sure with today's economy, forthcoming elections, and daily activities of just being a mom...I will have many things to post here....BECAUSE....

I AM A MOM FOR REAL CHANGE....A TRUE ANGRY MOTHER....WHO WANTS THE WORLD TO IMPROVE FOR HER CHILDREN AND FUTURE GENERATIONS!