Recession, Depression, or Just a bunch of bologna crap?

As I sat here tonight thinking about what to title this blog, there were several titles that I passed on, but here they are:
What the Hell?
We are screwed?
How are a bunch of idiots running our country?
What is going to happen?
AHHHHHHHHHHHHHHHHHHHHHHHH!

Like it or not, the outlook does not look good for the economy in 2008. I work in the mortgage business, and see the effects first hand. In the last 6 months really is where things have just gone down the crapper. I went from closing over a million dollars a month most months, to not being able to scrounge up a loan to save my life. Appraisals coming in lower and lower. A lot of houses coming back as being in an oversupplied and declining market. It is kind of scary. So what are the american people going to do when they can't keep borrowing against the equity of their homes? Who knows? We get less and less refinances where we are consolidating debt because the equity isn't there. There are more and more people on adjustable rate mortgages who waited and waited, and now their rates adjusted, and they are flat out screwed because they can't refinance because there isn't enough equity in their home. So now, like I said, what is going to happen? Well, this whole mess is going to spill over into other markets. It is already starting to happen. We are starting to see more and more late payments on credit cards, or just not paying them because the interest is so high. Once this really starts taking hold, then people are going to curb their spending even more, because they don't have cash on hand, and don't have any credit left (which is starting to happen also), and we are going to be thrown headlong into a Big, Bad, Recession. Really, it could be worse. If you read the article above about the similarites between 1928 and 2008, it really is quite scary. Once spending slows down, the economy will be in trouble, because the thing that has been propping our economy up (over 60%) is spending. Once the money dries up, then the economy topples, right? If I am wrong, please tell me I am. I want to be wrong.

The fed keeps lowering rates, but is this the answer? No, because it causes more inflation because the value of the dollar declines (as it has been for quite sometime now). This is another scary thing facing our economy and country. It has helped exports, but that is it. What happens when China decides to pull our card on all of our debt with them? The dollar sinks. Better buy some gold! I guess we should all buckle down, and be prepared right? It seems the media fuels this as well, because I wouldnt even be writing about this if I didn't hear about it every day. I'm afraid that when it does happen, no one will be ready, and it will be scary times, but let's hope not. I do like the ideas that the republican presidential candidates have brought up in the debates when questioned about this issue. They say cut taxes, but the big thing is, cut spending. I'm not sure they can really do this because they love to spend, but I think it is time to start taking care of the U.S.A. instead of getting involved in everything that comes up around the world. We give away so much money to all these countries that we should not be. What if we kept it and invested in OUR future, instead of theirs. How about we fight the war against terrorism here at home? We have a border crisis that no one ever hears about because the media is Pro illegal immigration. We need to secure our borders first!

So Bush is over in the middle east trying to come up with a peace agreement between the israelis and the palestinians. Yeah George, that seems like something you should really be worrying about right now. He is also over the begging the OPEC nations to cut the prices on oil. Good Job Mr. Bush. Beg. I supported Bush for a long time, but now, more and more, everytime I see him, all that comes to mind is moron, idiot, and a lot of other choice words. But really, I could say that about EVERY single politician that is in congress, the senate, state level, etc. We are so out of it, that we don't know what we are doing anymore. Let's take care of us and be greedy for once. Without We the People, there is no United States, and it is time the political morons realize this and save us from ourselves......