The American Economic Crunch

It is true that economy is in shambles and much of it has to do with the powers that be and/or real estate personnel's greed to have more. I guess as a whole, it is everyone's need for more. I take offense, however when I watch the news and report after report blames the consumer. Yes, it is true that many people bought homes without collateral or in the words of one report, "these people may never have the money to pay off the loans they have." The thing that I take offense to is that because the price of homes was inflated at the time of purchase for most people during the last 2 years, in order to make a down payment on a home, many people would've had to come up with at least $10,000 or more for a down payment. Arguably so, most people would not be able to ever own homes if there was a need for that much money for a down payment. This makes me sad because I think that it is natural to want better things for your family and in that spirit, most people want the American Dream. Why should the consumer be scolded and put down because many people were simply trying to make a better life and fell victim to poor practices in real estate. Maybe if this were not such a wide spread practice, it may not be such a big, bad problem here is the United States. I just feel weird as a homeowner because I bought a home so that I can leave a legacy for my children and help build a foundation for myself and my husband. Now my home is worth so much less than I bought it. It is incredibly sad when I think about the funds that I lost in this endevour. I am sad when I watch the news and hear those hurtful words from reporters. It is almost as if in some hidden way that homeownership or anything of that nature is solely for the haves and not necessarily for the have nots. Each day that I watch this presidential campaign, I get annoyed at the fact that John McCain reminds me of the fact that in many ways the America that we have always known has been largely in favor of the haves and those who married into a family of the haves, so to speak. It is almost interesting that one can venture to say that it is in many ways racist, classist, and mildly sexist in this very fashion because it is very difficult for one to "come up" in America under regular circumstances. Whether it is due to mandatory minimum jail sentences, predatory lending practices, insufficient healthcare, unemployment, or simply being black/minority, and even gay, lesbian, or transgendered, many "ordinary" Americans are having a very difficult time surviving this economy. It makes me sad that there weren't laws in place to prosecute these people who willfully hoodwinked people. There would have been a law to lock up Ray-Ray for drug possession, Ronald "Mr. Biggs" Isley for tax evasion, and Martha Stewart for taking bribes and bailing out of the stock market--why not business heads who messed with the lives of others so that they, themselves, could enjoy $150,000 salaries and lavish benefits. I believe that the American dream is turing into something much like an American nightmare. I am embarassed by our governments behavior and their priorities. I understand that this is a huge and arduous undertaking, but I also have watched as they have neglected those of us who are here at home. International diplomacy has become more important than education and healthcare here in America! This is senseless.

As an English teacher and simply an educated woman, I watch how many of my students come to me with the minimum and their parents accept the minimum from them. It has become increasingly sad and not to mention exhausting as the years go by. As an educated woman, I see how it is definately well merited that a student from a low socio-economic background can go to college virtually for free, but a person with minimal standardized test scores whose parents have earned a college education may end up paying thousands of dollars on student loans. It's almost that it is "punishment" for not being "impovished." I totally understand this however. I just simply think that it is very interesting. In the end of all of this, I sincerely hope that the market recovers itself and that we finally see an America that works for the "little people." Those of us who don't come from money or work hard for each and everything that we own, should be able to have a piece of the American pie without being questioned or manipulated. I just find this whole thing disturbing, yet interesting.