U.S. Financial Meltdown Bailout – Is It Time For HOPE?
September 30, 2008 by Jim Walberg · Leave a Comment
This is a day that will be remembered for the rest of our lives – 777 points down in the DOW Jones!
OK, is today the time for HOPE regarding the Bailout? Well, the world markets say NO! We need to bring the message of HOPE to all of our friends and family TODAY. One of the many reasons for the strength of our country’s economy is our ability to make mistakes, and learn from our mistakes and move forward. OUR money is now being spent to re-tool Wall Street and Banks who still are creating the credit for consumers and companies – finally, the HOPE of the bailout is that a common sense of lending as the base of the way money will be lent will be used.
My view is that I still do not believe that we should look to Washington to fix what we 
can change. However, this crisis is too big! The current financial crisis is ONE part restructuring of Wall Street credit methods, and TWO parts a crisis of FEAR and a lack of faith in Capitalism. A massive change in our financial structures is happening this week. The media headlines are running rampant. Remember, blood and guts sell! Change is not good or bad, it is simply a different way of doing things. We, as Americans, need to recognize that all of us participated in this mess by not saying STOP!
I am a raving fan of free markets as opposed to Government “band aids” that may actually take longer for our economy to heal. Our financial systems are in a real mess, along with millions of home owners. And, stress is only relieved by CHANGE. Well, change is what we are getting this week, whether we like it or not.
Another hopeful fact this week is there are billions of dollars in money market funds and investment accounts that are waiting for the bottom of this market. When the consumers start to feel the “calm”, that bundle of cash will rush back into the Market. When that happens, a brand new business cycle will begin. So, where is the bottom? Well, it may have finally come.
My view is that we have had a drunken economic party for the last six or so years and this week the waiter brought the bill. Instead of allowing those who hosted the party paying the bill, some bright person in the Government decided that the bill should be paid by our kids and grandkids. Our kids now “own” a bunch of paper assets that may help pay the bill some time in the future, but I promise it will not pay the entire tab.
The message for us to consider today is that real estate has still been the best place I have EVER placed money. There are non-stop bargains on the market and mortgage rates are AWESOME! So, let’s make sure we bring the message of hope to all of our clients! There has never been a better time to buy real estate than NOW! Let’s start spreading the message TODAY! Let me know your thoughts!
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