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The Current Crisis By: Carol Dunn  |
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 With the US economy seemingly falling off the face of the earth, many people are worried about their economic situation and the security of their future. Things like a good home; college education and having enough money to pay the bills now seem to be moving further and further away from the average person.
But before you panic and make irrational decisions, don’t worry, take a moment and consider what is really going on.
While it is true that commercial banks are having trouble making loans to each other, your local bank and credit unions are not having any trouble what-so-ever making loans. If you need money, and you have to get a loan and you have the ability to pay it back, then it is very likely that you will get that loan from one of your local banks.
You’re hearing a lot about foreclosure, but it is important to note that less than ten percent of mortgages are in foreclosure at this time, not that ten percent isn’t a big number, it is, but it is far fewer than what the public has been led to believe.
A lot of people are worried that because of the credit crunch, they will not be able to get a car loan when it comes time to get a vehicle. On that I would give a second, don’t worry. Car manufactures and dealers don’t make money if they aren’t moving cars. When it comes time for you to get a vehicle, believe me, you will be able to get the money you need.
I know things look really bad. Many people when they see President Bush come on the TV and say that things are going to get worse by the day and that everyone should be very afraid, I know that may worry you, but I feel I should remind you that the President hasn’t been correct about one thing yet, and I find it hard to believe that he’s right about this.
If you’re looking for leadership, look to representatives like Dennis Kucinich on the Democratic side, and Chuck Hagel on the Republican side. Find out what they have to say about the current crisis, and follow their lead.
It’s true the next few years are going to be tough, but if we stick together as a country, I believe we will emerge from this crisis stronger than when we went in.
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