Middle Class is Losing in This Market Meltdown
Wouldn’t it be nice if we could just yell, "Uncle", like we did as a kid when a sibling was trouncing us? Wouldn’t it be nice if we could wake up tomorrow and all of the news this past month (plus) was a dream? Everything going on right now is preoccupying the minds of all Americans. Whether you work for a corporation, or have a home-based business, whether you are currently "okay" financially, or strung as tight as a rubber band – long term we will all be affected. Trump and Kiyosaki, in their book, "Why We Want You to be Rich", said the middle class is shrinking and in jeopardy of being lost – now we are truly beginning to witness that.
Each day another couple of articles are posted about the American dream of retiring going by the wayside. Stories of those who are retired needing to go back to work. The other day I read that the U.S. is in jeopardy of losing their AAA credit rating, if this happens who will want to buy our bonds, etc.? It will put us in another spin cycle….
Now, the decision to be made about the auto industry. While I try to look at this objectively, I have mixed feelings. A part of me says not to bail them out. As a small business owner I am responsible for my own profitability, but if I blow it can I get in line for a "bailout"? Yet, then the bigger picture comes to play. Should the auto industry fail, the domino affect and repercussions could be so devastating there is talk we could actually become a "third world nation" within the next 10 years. Not what I want to hand over to my children….
What are your thoughts on this very serious predicament we are facing as a nation? 
Until next time, J.
"Take control of your destiny or someone else will"
November 20 2008 12:05 pm | Misc Ranting, Retirement, Wealth Strategies
