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our “terrible” economy

Posted on: August 30, 2008

I don’t usually write about politics, and I’m usually not that interested either, but I just have to say this: I have had it up to here with hearing about how we live in such hard times. Yes, it qualifies as hard times if you’re one of the almost 6% who can’t find a job. But hard times for the whole country? That’s when *lots* of people can’t find a job, like in 1933, when unemployment was 25%. The Great Depression was hard times, and I would say the Carter years were as well. Right now, we just don’t have it that bad.

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2 Responses to "our “terrible” economy"

I am with you!

I think that maybe depends on where you are from and what is going on in your local economy? I live in a city of 40,000 and know quite a few people who have lost their jobs recently. I would venture to say the unemployment rate here is closer to 10%. Many of those without jobs are unable to find new jobs because there just aren’t many good ones to be had in our area. Companies all across the city are cutting back on their labor force. However, people do have unemployment available and those benefits were recently extended, so I agree that it is NOT as bad as it could be.

I myself the proud owner of a house house that is now undervalued. The value has dropped so far that I now owe about 15K less than it’s worth. It’s my own stupid fault that I got a zero down loan with two separate ARM mortgages over two years ago, but it’s not my fault that the value has dropped so much. I was never looking to make money on my house, but am definitely affected by the drop in value. Even though I have STELLAR credit and have never been late on a payment I am unable to refinance my home. I worry that when the ARM resets I will go into foreclosure. I will do everything in my power to make my payments and not let that happen, but if I get laid off it will be pretty tough to do.

I guess what I’m saying is I agree things could be a lot worse, but I do know of a lot of good, hard-working, honest people who are being affected by the economy and things out of their control.

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