Let me tell you why we are in a financial crisis. There is a general lack of training with our present and following generations on how to handle money. Money is viewed as a means of purchase instead of a means of sustenance. We are a BUY BUY BUY country. I have a friend, married with two kids and a modest salary. Not as modest as mine but modest. He bought a $250,000 house....ahem mansion. That guy has about as much business owning a home with 4000 square feet than I do owning a professional hockey team. His house payment is equal to 2/3 of his salary and that does not include the new mini-van he financed at the rate the car company offered because "he doesn't like confrontation."  It is the fiscal responsiblity to the board of directors of a bank as well as to the potential customer that banks consider house loans on the TRUE salary that a person makes...that is their "take-home." Instead they base it on the Gross. That makes 0 sense. Banks were loaning to just about anyone and there were countless advertisements saying, "We will get you approved!" Now they want a bail out? Gee, I wonder if it was dumb to sell a 250,000 home to a guy that makes 60,000 a year and owes tens of thousands in credit card and student loan bills? The failure of our banking industries are directly linked to irresponsibility in lending practices. You cannot loan to any Tom, Dick, or Harry. We, the American public are so into the have it now mentality that we have allowed ourself to be drug along with all these failures and we have watched retirements sunk because of the fickle stock market.....all related to the fiscal irresponsiblity of our banking industry.

We are in this crisis because we pay $72, 000.000 to professional athletes that aren't worth the writing on their contract. You may ask....how does this have to do with the crisis. It shows fiscal irresponsibility to pay a middle age guy to chunk a ball downfield all that money. The mentality of many of them are a great example....like the professional athlete that made at least $12,000,000 a year in salary and endorsements complaining during a strike that they were "just trying to put bread on their table." GAAAK! I could barely write that. Money is mistreated and it is a fickle mistress that will bury you if you fail to treat her right.  We sink billions into movie stars, athletes, .....etc. Even the car companies that begged for money in Washington were "considering cutting some of their celebrity endorsements." Like the millions Tiger Wood collected for knocking chocolate out of a little white ball and the more millions he collected by saying that he likes GMC even though he probably drives a foreign sports car. (LOL). I find that one funny.

We have learned to use money to get what we want and not what we need. The greater concern coming should not be are we in a recession but in how are we going to sustain the retiring baby boomers in a depressed economy. The single largest retirement surge in the history of the world is in progress. How will we meet their retirement needs and pay billions to the beggers hounding Washington. Most people do not realize that the $700,000,000 is printed money from the Feds. More money in circulation means lower dollar value....lower buying power.....and a depressed economy.  Thank you to the fat cats begging for a golden parachute when they deserve to be air dropped parachute-less in the middle of the Sahara! 

We will see a massive drop in our economy over the next year or two. We will not recover unless we re-prioritize our spending and learn to buy what we need...not want. We must learn to use money effectively so we can support ourselves and not have to spend our career investing in retirement accounts that probably won't be there when we retire anyway. Everyone needs to get Dave Ramsey's Book, "The Total Money Makeover" and get busy getting busy.