The Credit Crisis Is A Myth??

It seems, during this bailout, that all you hear about is the credit crisis...that people and small buisnesses can't get business loans, car loans, student loans. I alluded to it in my most recent post, and this will just be an extension of that.

You see, the "crisis" is true, in the sense that most people that have gotten car and house loans for the past 10 years won't be able to get these loans. But folks...those are the people who SHOULD NOT be getting loans in the first place!

I'm sorry, but you are not entitled to new cars every 2-3 years...you aren't entitled to cars, period. Be happy if you can afford an older car. Keep it fixed up, and be happy. I'm driving around in a 10 year old Neon. I plan on keeping it until we can pay off the rest of our credit cards and then I'll save up to pay cash for a different USED car. What a novel idea.

And yes, if you aren't entitled to a car, then you aren't entitled to home ownership. Sorry. It's true. There's an unsaid expectation that everyone should be afforded reasonable housing...and I can concede that. But that's different than home ownership. Home ownership is a responsibility, one that you must work hard to attain, like much else in life.

BUT...to the people that can afford it...to responsible stewards with money, loans are still attainable. Banks want to loan money...to people they reasonably know will pay it back. That means, living an appropriate lifestyle, less credit card debt, etc.

If we're talking about a "credit crisis"...you'll see a real crisis down the road if this $700 Billion "investment" is made, but nothing has changed with regard who whom loans are given to. No one has shown us that they are ready to change the "business as usual" in regards to this bailout bill. Until they do, it is necessary that we continue to vote NO to bailouts. And the whole, "there will be time for the blame game later" is code for "we need money, but we aren't going to change anything."

And it's sad to say...but I think the make-up of Student Loans need to change too. I remember college...but I can't say for certain the things I learned there. But I know I still have $20,000 left to go to pay it off...and I've been out of college for 10 years. I'm willing to say, that in that regard, I'm just like millions of Americans. My sister has huge student loans...and she's now a stay at home mother. It's her right to be a stay at home mother, but if millions of students go to college only to fail to use that education, it only aids in running up the cost of college.

This points to some fundamental changes. We either need to go back to the principles of "America's Greatest Generation" or we need to move on to Socialism with the realization that it will render the United States an afterthought in regards to world power. In any event, our current monetary policy (and that includes essentially the same policy that we've had for at least two decades) isn't working. As Dr. Phil, or financial guru Dave Ramsey, would say, "how's that working for ya?" It's not. So it needs to change. To what, will determine the kind of nation our kids grow up in. Is anyone willing to stand up and hold our government accountable for how it, and we, leave this country for the next generation??