Our Service Area Los Angeles Experts Your FICO score Improve Your Credit Score Disputing Credit Reports


July 6th, 2009 11:06 PM

Dear Friends,

Now that the Independence Holiday weekend is over, many of us are back to work! Most of us this morning were half asleep, or just daydreaming of the great time we had with our children, family, friends or spouses. Unfortunately, reality woke us up by mid afternoon as depressing financial news continues to dominate the headlines.

If you are one of the fortunate individuals that have a job, you will do your best to keep it. However, there are many able bodied Americans, over 15 million by one estimate, that are unemployed or have stopped searching for work altogether. 

Since the Recession officially began in December 2007, there has been a loss of 6,460,000 jobs. Last month, there was a loss of 467,000 jobs in the US.  The national unemployment average has climbed to 9.5%. This country has not seen this figure in its record books since October of 1983! There are individual states, comparable to Michigan and Florida where unemployment has hit double digits and has elevated the specter of events similar to The Great Depression by its suffering among its populace.

I'm sad to say that I have family and good friends in Michigan and Florida, so I'm well aware of the challenges and sacrifices they confront daily. Here in California, you can see the effects of unemployment. Many of our citizens are out of work with nowhere to turn. I see additional persons wandering aimlessly begging for cash to get on the bus, to feed their children or for a bite to eat. I see this everywhere as I travel throughout Los Angeles meeting with clients and Realtors. All of this pains me greatly. Truly, one is forced to question the competence of our government in its proclamations that the Stimulus Bill of over $787 Billion is working and providing relief to many Americans. When any one mentions such rubbish, I bite my lip and look to the Heavens in exasperation for the suffering and pain created by those we've empowered to keep watch over our best interests.

The economy is sinking deeper as Americans as a whole are working less, wages have fallen and factories are operating at 65% of capacity. These factors have created a domino effect where the instability of the economy is now seen as a foregone conclusion. 

I have written on previous TeamBlogs my predictions in regards to the state of the US economy and the consequences for America's future once the 'dust has settled'. An undergraduate's degree nor a PHD in Economics is required to understand basic Arithmetic. A 3rd grade education will suffice. A simple logical concept of addition and subtraction as demonstrated by the workings of an ABACUS, is recommended for all members of Congress and the Administration.

The common sense approach never registers in the minds of government bureaucrats. In order to have a balanced budget, one should not spend money that you do not have, one should not print money to make up for money that you do not have and you are allowed to spend money once you know you have the money in your savings to cover the money you would like to spend! Many Americans review their bills once a week and understand these simple concepts. Unfortunately, Washington has too many members with brain damage caused by the 'hot air' thrust upon the Capitol steps, its hallways and even in the Rotunda everytime a speech is made about spending or printing money we don't have to 'manufacture' a speedy Recovery.

Harsh words? Of course! In the full House, incompetence, greed and corruption has permeated our government to such a degree, where hubris and narcissism are now the virtues most recognized as qualities required for pushing legislation that is never read before voting. I also might add, that our media has relinquished its duties as journalists by no longer providing unbiased 'reporting' of all elements of a story which involves the US Government. The predilections of the media has created a void where one must dig in order to find, view and read the truth. How times have changed!

Notwithstanding, after all is said and done, I am turning into a curmudgeon! Politicians at one time in American history were revered and were recognized for their honesty and integrity. The Founding Fathers come to mind. However, 233 years later, America has become a nation unrecognizable from its origins. Certainly the pursuit of politics in 2009 can be explained by these passages:

"The standard of intellect in politics is so low that men of moderate mental capacity have to stoop in order to reach it." Quote from Hillaire Belloc and certainly just one of the signs of our times.

Thanks Again  

Posted in:General
Posted by Jesse Dorado on July 6th, 2009 11:06 PMPost a Comment

Subscribe to this blog



My Favorite Blogs:

Sites That Link to This Blog: