My first other thought is that everything you hear and the whole downturn is really based off of fear. Everyone is just afraid and scared. People are scared of loosing their job, scared to spend any money, scared to loose their investments, etc. The media really needs to focus on the real issues in our world, and not keep on with the "economic crisis" reports. Im pretty sure everyone knows things are bad. No need to make folks more paranoid.
This fear was fed by greed, and people trying to make money from nothing. Sub prime lending on homes was just a way of thinking "Ill get interest for a few years, then when they cant pay the higher payment, Ill foreclose on the house, and re-sell it for a profit!". Greed. The people who did that should be put in the stocks in the capital of all 50 states for a week so we can all go give them a piece of our minds. That would do more good than just putting them in jail.
Some folks here mentioned immigration, and I think that the downturn may impact change. Here in the DC area it seems that immigrants get the jobs that no one else wants to do. They didnt take them from someone, they are just willing to do them with no complaints. If the layoffs keep up, there will be more domestic labor available and there will be competition for those previously "undesirable" jobs. Somewhere along the line the manual labor in this country (construction, custodians, etc.) became something that only the immigrants would do, and the folks who were natural born citizens felt was beneath them. It makes no sense. Either do a job and take pride in it, or go get an education so you can do what you want to do. Sitting at home and collecting a check because that stuff is "beneath" you just isnt right. (Im not saying that about anyone here, so please dont think that)
I think we can come out of this downturn stronger than we have been in the past, but we need to get over the division we have here in this country, and get back on a strong course that helps benefit all of us, not just some of us.
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