Write Lightning is a blog from writer Deb Thompson.
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Tue, May 27 2008

Underconfident and tired of it

Rick Newman writes about consumers being underconfident at a time when things are probably not as gloomy as we're treating them. Employment may be at a manageable level, but I know quite a few folks who have taken jobs for less pay than they're used to making, just to be able to be employed. Some are clinging to that job they have because their spouse works in the construction industry and has little work with the housing downturn.

And when one talks about gas and food being the main culprits of inflation, let's not forget that higher gasoline prices will eventually translate into higher prices for anything that has to be transported using that higher-priced gasoline.

Many of us have kept and maintained our vehicles for a longer period of time and have not run out to buy that new car every few years. We've been careful while others were using inflated home equity to finance trips to Europe and new cars. And we're still not feeling richer at this point. The most we might be able to brag about is having less debt than folks who charged everything in order to keep up with the Joneses. We made our mortgage payments on time, bought clothing and other items only when we found a good sale and behaved ourselves. And we're still not able to keep up with the economical pressures that are squeezing us. If we're having a hard time not feeling gloomy, I can only imagine how bad people feel who have a gas guzzling SUV, thousands of dollars of credit card debt and an interest-only mortgage about to pop like a festering boil.

Meanwhile, none of the political candidates dancing around the polls have any radical method or practical plan for truly revamping the economic situation. And if they do claim to have some cute little plan, they certainly don't mention where the money for it will come from. All we can imagine is higher taxes for the foreseeable future. So there's little hope for the economy to perk up any time soon. And some of us have been weathering the storm for three or four years. We're asking when it will get better—and even more frighteningly—will it get better at all?

posted at: 12:06 | category: /Miscellaneous | link to this entry

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Stealin' copy is as bad as horse-thievin'
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