Monday, September 29, 2008

Doom and Gloom Economy

Im sure by now we're all used to hearing on the evening news, "a tough day on Wall Street," and, "the markets are down," but today we saw the biggest drop in US history The DOW fell 777 points. Unbelievable. The reason for the drop? Congress failed to pass the 700 trillion dollar bail out deal brokered in a bi partisan manner.

I feel like most Americans on this issue, Can I get a bail out? The average American is struggling just to put gas in the car to get to work, or put to put dinner on the table for his family. Why is the government trying to bail out these people that put themselves in that position to begin with because of greed?

Times are tough and I dont see it getting any better before it gets worse. Its hard to get a loan to simply buy a car or a home unless you have prestine credit. Oh and an educational loan? Forget about it. Looking for a job? Good luck, the National umemployment rate is 6.8%, the highest in years. Your 401k? Better save whats left of it because at this rate its going down the tube.

All this is to say we need to stay conscious and prayed up over this crisis that is not only affecting Americans, but the entire globe. The stock markets in Asia and Europe have not been immune to the American crisis.

1 comment:

Troy Barrington Lilly said...

Now that the $700 billion farce has been approved by Congress, Bush and the Treasury have completely jumped ship with what they originally promised to do with them money. To make matters worse, the Big Three in Detroit want a piece of the pie...$50 billion dollars worth, though they say $25 billion won't hurt.