February 6th, 2009 8:50 PM


Dear Friends,

Genuine and sincere advise from an older person is always desired at times of abrupt change. Events as losing a job, a home, death of a friend or family member are a few of the various examples where help is requested in order to gain peace of mind. However, one needs to be aware from whom the advice is given. There are many persons who are sincere in their own perspectives and beliefs but the advice given does not have substance nor credibility after review. This reality is occurring today as our lawmakers in the US Senate have decided to approve a $780 Billion 'Stimulus Bill' which will eventually bankrupt America. Our children and our children's children will no longer be able to live a life worthy of the American Dream. The likelihood of becoming financially independent is no longer a viable option, as government intervention in all aspects of one's life has now become an eventuality for many years to come.

The death of capitalism or the free market system is now seen as a certainty by many economists. A new hybrid brand of American socialism is on the horizon. This new economic order will nationalize the banking industry and will allow the Federal Government to be involved in all aspects of financial decision making. Additional regulations, guidelines and agreements will now be the directive force in which government will have an inordinate amount of power to control the lives of Americans by its extraordinary intervention. The America most of us have been accustomed to and have taken for granted is no longer within our grasp and is now becoming a bittersweet memory. The metamorphosis of what we knew of American culture, its morals, its values, its traditions, is no longer respected and is dying a slow and painful death. Money has become a source of enlightenment and the apparent epiphany of glamor of those in power. In government, on Wall Street and in corporate offices throughout America the drug of spending such reserves is a ritual to be recognized. Their examples has permeated the desires of those living on Main Street to the detriment of our nation.


Ever since the $700 Billion approved by Congress and signed by President Bush last year, Americans were given the assurance at that time the monies allocated for the 'Stimulus Bill' was needed to end the eventual destruction of the American economy. As well, we were led to believe the funds would be used in a methodical and intelligent manner, where results to cure the incessant financial problems was its ultimate goal. The Bush administration spent $350 Billion or 50% of the funds allocated by Congress. As of today, $350 Billion still remains and these funds are now under the control of the Obama administration. With an additional $780 Billion destined for President Obama's signature, Americans have borrowed over $1,480 Trillion in the past 4 months!

Common sense in the halls of Congress and in The White House is no longer flourishing as our Founding Fathers would have hoped. The main problem we have today, involves the integrity and character of those individuals we've elected to Congress. Many of these persons are beholden to special interests, where the chronic pursuit of campaign funds for reelection and the inability to make courageous and altruistic decisions for the good of the country is their understanding of the role of a public servant. All in all, there are times in which there's not a dimes worth of difference between Democrats or Republicans. When a simple observation like this occurs, it's time for reflection. Wisdom is afforded to those outside of the maelstrom of activity. The observations bestowed on the few individuals capable of discernment, is a gift one obtains when the bonds of honesty and truth are articulated in those that harbor such virtues. In this vain, the US Government has failed the American people once again.

The 'Stimulus Bill' and my objection to it, is due to the extravagant amount of 'pork barrel' spending where the majority of the legislation are for items which do not provide the jobs needed in order to boost the economy. The Congressional Budget Office and other economists believe this to be a 'spending' bill which will do more harm to the US economy by creating and institutionalizing additional debt. This debt will be a burden for future generations and the likelihood of rampant inflation will be a direct result from its passage. Tax cuts for business and for all Americans is needed to help restore an economic balance.

Mortgage Rates 

We have noticed activity in bond yields during the past few weeks. Interest rates are starting to rise again. The inflationary 'Stimulus Bill' is being noticed by many in the financial community. Spending trillions to reinvigorate the US economy is a trial and error proposition. Many Americans fully appreciate the US Congress must do something to end the crisis. The right mixture of tax cuts and job creation is required to make the 'Stimulus Bill' a success. Many Americans are on the sidelines and are taking a wait & see approach. Please check our website for our current mortgage rates.  

Money Management

We are all to blame for the financial meltdown we are now witnessing. We are a credit society. We owe more money than we make. We also borrow to obtain goods we really do not need. We spend beyond our means in order to obtain material goods we want NOW. Patience is no longer considered a virtue in financial planning. We do not save as previous generations once did. The excesses of credit card debt and examples of demanding material goods without sacrifice or obtaining the savings for its purchase, has created a dependency for credit at all costs. The pendulum is now swinging in a direction where Americans are now painfully aware that our current lifestyles will now resemble those of our grandparents and great grandparents during the Great Depression. The value of the dollar is now appreciated more than it was, just a few months ago. Most of us know damage has been done to our financial futures. The focus is now on our lawmakers, as they need to understand the basic and simple concepts just mentioned and to pass legislation which alleviates the distrust many Americans might have for the newest 'Stimulus Bill'.

Thanks Again   


Posted in:General
Posted by Jesse Dorado on February 6th, 2009 8:50 PMPost a Comment

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