Sunday, October 5, 2008

The Wall Street Financial Meltdown

I did our quarterly financial statment today. While it wasn't pretty (our retirement accounts are down by $36,000), the meltdown didn't wipe us out by any means and we won't be needing any of it to be withdrawn for another 5 years. Our debt on the house (our only debt) dropped by $14,000 which certainly brings a smile to my face. We have good health, good jobs, and a deep & abiding love for each other; we live quietly and have modest expenses. I am very displeased with the way that mortgages and other forms of credit were freely poured out with no regard for ability to repay which caused this mess in the first place but I am not overly concerned with our situation.

Now for what I more concerned about: Our nation has developed an "I want what I want and I want it right now" mentality. Get it now and pay for it (maybe) later. We squander our resources and shackle ourselves with debt to worship at the altar of More. We do it not just as individuals but as a nations--useless wars and foreign interventions. Don't we have enough to do at home? Couldn't we husband our land and water? Couldn't we tend our poor, sick, and elderly? Couldn't we provide a loving, nurturing education for our children? Wouldn't we then be in a better position to help others?

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