faith based economy

Faith Based Economy

 

You know our economy is a really amazing thing when you reflect on how it actually works.  In previous years the United States worked under a gold and silver standard which meant that the US Mint never printed more money than the worth of the gold and silver reserves.  It also meant that you or I if living in those times could exchange a 20 dollar bill for 20 dollars worth of gold.  However as years progressed and gold and silver reserves got smaller the dollar became a green back not silver back.  The dollar is worth a dollar because the government says so.  It is commonly accepted by the world that this is so.  This new form of economy is referred to as a faith based economy; because the only thing that gives currency its value is the fact that the world has faith in it.

 

I use this to illustrate the difference between what we were and what we are.  However today in 2009 during the greatest economic disaster in US history, faith based economy takes a whole different meaning.  Today people all over the United States many as we speak are praying to God for a job, or praying to keep their job.  Every time I go to the post office I pray that checks are there so I can pay bills.  We no longer are having faith in the dollar, but we have to have faith in each other and higher powers just to get through this month's bills.

 

I know people who have walked away from their home loans despite being able to afford them simply because they have lost their faith in the housing market.  Businesses in my town for over 60 years are closing their doors because people don't buy enough products. People don’t have much money and what money they get they try to hold on to because no one knows what tomorrow is going to hold.  Will housing prices drop again?  Will the Dow Jones take another dive?  Politicians talk about helping us and stimulus packages all while raising taxes.  In California, vehicle registration is going to almost double.  Sales tax went from 7.375% to 8.375% in my county and the whole state saw a 1% increase.  Tobacco products gained over a dollar per pack in taxes and income taxes have gone up as well.  People need to realize how you are going to get that stimulus check.  Is it really worth a 500 dollar stimulus if over the next 5 years you pay an extra 30 thousand dollars in taxes. 

 

President Obama also wants to raise inheritance taxes to above 50%.  You know what that means that if your dad or mom dies and leaves you a million dollars of taxable estate the government will get more than you do.  "Sorry young American about your loss, I mean our loss" says the government "here is your share of the million is this 475,000 dollar check."  Now many of you may read this and think that I am a silly republican only looking to take shots at our new president.  Quite the opposite actually I have and will always be a member of the Democratic Party, but I know when something in my gut feels wrong.  Look at my family for example.  My grandfather was in the Navy came out with nothing married my grandmother and started a generator repair business.  He worked every day of his life until he died 2006.  Now my family is forced to sell some of the properties we have accumulated and paid property tax on for years because the government said that the estate was worth an X amount of money so we have to pay an X amount of taxes.  Which equaled to 44% of taxes for us.  So we had to basically sell off half of what we as a family have built lived in and worked on all our lives to pay the government what they say the deserve because we inherited it after losing a family member.  So not only did I lose my grandfather we have to pay in cash for his hard work and service to our community.

 

The last time our economy was this bad we were only really bailed out by World War 2, and unless you want a war the solution lies with everyday folks like us.  Support your local businesses; don't skip out on the bills that you charged up just because you think you can.  I have a friend that has a lot of credit card debt and even wanted to file bankruptcy n student loans.  That is garbage no one made you charge up your card with laptops snowboards and mountain bikes.  No one made you buy a new truck when your other one was still pretty new.  No one made you not finish college in 4 years while the government gave you a grant.  Do what’s right don’t bail on the bills you created.  Take responsibility for your debts before you are the one who is responsible for killing our economy.

 

Don't think of me as an idiot, a zealot, or right wing.   I am simply scared and tired of seeing every store from Circuit City to Gottschalks to half of the local businesses and restaurants closing weekly leaving more and more people relying on a miracle and faith to feed their families.  If you don't like what I am saying or thinking you are entitled to that I don't like this either.  You can even unfollow me if you wish.  Nonetheless I hope you don't wake up in a jobless market starving and homeless,

 

Now more than ever take care of each other

 

God Bless and lots of love and prosperity

XM