It's been hard to wake up this month without hearing about another bank going belly-up. I heard the Dow Jones went down %7 today. So What? What does this mean for me? Well, so far, I just sit and watch, wondering what to think about this country. Ever since I have been alive, this world has been in a steady decline, September 11th was the event that opened my eyes, but it is evident now that I have no clue. I have no clue what to expect when I finally enter this "real world" I always hear about. I have no clue what to think about us possibly having a democratic president for the first time since I have became politically aware.
According to the news our economy is going to hell. Meanwhile, I am spending more and more. The truth is that while the free market is suffering, I am experiencing more financial freedom than I have ever had. Yet at this rate, I am wondering if there will even be a free market by the time I turn 18.
In an article I recently had to read for History class, it mentioned that the recession can be merely a figment of our imagination. We believe that our money will not be safe, so we save it. In reality if everybody went out and spent $100 tomorrow, we would be way better off. But instead we sit and wait for the market to correct itself, when really it is the lack of spending that got the housing market where it is, and the stock market down worse than it has been in years.
But I'm only 15, what does my opinion matter? Well I'd like to argue that, but unfortunately it really doesn't matter. These politicians will still go back and forth and continue to be counterproductive. If we all had as much "change" as these politicians claim to bring, we would be one rich country. Excuse the pun, if you caught that one =)
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On spending - there's nothing inherently wrong with it, but learning the essence of discipline will put you way ahead of the game. How much of it do you save? This is a rhetorical question, but really is worth thinking about. One of the biggest reasons we're in this financial crisis it because of people spending money they either don't have, or can't pay back.
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