economy
i am worried about our country - not just my usual feeling pissed off about the state of things and wishing there was something normal citizens could do to make change. this time I'm really worried. the recession seems inevitable and I don't think alot of people are really paying attention. i am though, and i'm wondering how it will affect my student loans, my credit cards, prices for daily goods, the incomes of the families I work for and if they will lighten my workload when their pockets begin to feel the pinch. its scary to think about middle class families out on the streets in California. I know my ridiculous parents are frivolous spenders despite two mortgages - I wonder how the mortgage crisis will affect them. Theres no way Dana is ever going to realize they can't afford that house and move.
It must be bad if the govn't wants to loan 800$ to all tax payers so they can spend money. However, I don't think that will even help. People aren't going to use it to invest, but rather to purchase one time luxury goods. It will just be like there were too Christmas shopping seasons this year. Where is that money going to come from anyway - not them, us. So basically the people of america would be funding this "rebate" which in true form is really just a temporary tax loan. Paycheck to paycheck families (myself included) wont be able to make ends meet. the prices of electronics will fall, but neccessities??? I'm very scared. The first thing I'm doing with that $800 is using it to close my variable interest credit card. My other two cards have low credit lines and fixed interest - ive been working on getting the other card debt down since Ireland - but its been really hard finding extra money while being in school full time and paying rent and all my other expenses. Max and I have no family helping out - and we keep getting slammed with small stuff that takes regular pay from us. This extra money will help me close that card completely. Thats my plan if this money things works out. However everyone else I talked to was like, XBOX 360 - or GPS for my car - new computer. I guess people aren't worried, but I think they should be. Just look at economic news everyday for a week. it makes me want to stock up on toilet paper and shove coins under mattresses.
Any thoughts?
It must be bad if the govn't wants to loan 800$ to all tax payers so they can spend money. However, I don't think that will even help. People aren't going to use it to invest, but rather to purchase one time luxury goods. It will just be like there were too Christmas shopping seasons this year. Where is that money going to come from anyway - not them, us. So basically the people of america would be funding this "rebate" which in true form is really just a temporary tax loan. Paycheck to paycheck families (myself included) wont be able to make ends meet. the prices of electronics will fall, but neccessities??? I'm very scared. The first thing I'm doing with that $800 is using it to close my variable interest credit card. My other two cards have low credit lines and fixed interest - ive been working on getting the other card debt down since Ireland - but its been really hard finding extra money while being in school full time and paying rent and all my other expenses. Max and I have no family helping out - and we keep getting slammed with small stuff that takes regular pay from us. This extra money will help me close that card completely. Thats my plan if this money things works out. However everyone else I talked to was like, XBOX 360 - or GPS for my car - new computer. I guess people aren't worried, but I think they should be. Just look at economic news everyday for a week. it makes me want to stock up on toilet paper and shove coins under mattresses.
Any thoughts?