Sep
26
Do you resent the 700 billion dollar bailout of Wall Street? I do. That is not to say I am against it; I don’t know if I oppose the bailout or not. I do know that if I have to support it to keep the economy from sinking, I will do so only with very mixed emotions.
It does seem unfair. Wall Street speculators take risks, fail, and get bailed out. . . all in time to get their big Christmas bonuses. My cousin takes a risk on a mortgage in Colorado in a seemingly prosperous area, fails, and gets foreclosed on. . . all in time to get a cheap rental before Christmas.
Meanwhile, back here in the middle class we’re worried about inflation and taxes. We can’t help but wonder if next year will be tougher than this year. We’re putting more money in our savings and less money in our retirement fund. Forget about new furniture, big holiday plans, or trips. If other people are in sync with our thoughts and behavior, then we are in for some rough economic times.
Naturally, as a Realtor, I want a stable, growing economy; however, I am also a citizen who pays taxes and a regular person who feels resentment at injustice. This bailout feels unjust. Still, I don’t want to see a recession. My cousin in Colorado is not going to be better off if he loses his job after he lost his house.
What are your thoughts?
My new and improved blog is at barringtonlocal.com
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