The Sky's Not Falling

**Hoosier Momma** · 04-23-2008, 10:51 AM

http://www.realclearpolitics.com/art...t_falling.html

**suki** · 04-23-2008, 11:12 AM

That guy's head is planted firmly in the sand.

**Dancing Lotus** · 04-23-2008, 11:16 AM

Thank you for the link. . While I don't think that what is happening is anything to sneeze at we really need to stop panicking. But I do think this guy is taking it a little too lightly.

**annymoll** · 04-23-2008, 11:18 AM

Our home is paid for, but those we know all have decent fixed rate mortgages and they pay on time. The only people I know who have adjustable or balloon rates had bad credit. And still do. I think it will be difficult to make home payments if costs keep increasing. Thank goodness for places like Frugal Village.People here can make a penny squeal and share the tips.

**PrairieRose** · 04-23-2008, 01:59 PM

I agree that the sky is not falling

. We are in for a tight time here, it will be harder for some than others no doubt. This has happened many times in the past, it will happen again in the future. My personal opinion about hearing so much of it all over the media is that it's the smoke screen to take our minds off of our real problems....... . I think we should be more concerned about national debt and how we're selling our souls to China. As long as there are so many people screaming about the other crisis' very little gets done about the root of the problem(s). Jmho.

**suki** · 04-23-2008, 02:03 PM

I don't watch tv or listen to a lot of media. But, I have been monitoring my bills, budget and personal situation. As well as reading information on the commodities exchange and reasons for price increases. It's worse than this author wants to believe.

**JanieD** · 04-23-2008, 02:29 PM

It could be worst than this author believes, but what good will it do to panic. I agree that we need to see pass this one issue & focus on other problems. Wouldn't it be refreshing to see more news on how to solve problems than telling us to panic. I'm more concerned with what I can do than with what I can worry about.

**suki** · 04-23-2008, 02:35 PM

One can recognize the gravity of the situation without panicking.

What ONE situation? Mortgage crisis, food shortage, gas prices skyrocketing, energy prices skyrocketing... when have we ever experienced such a combination of issues that effect all areas of our lives?

**JanieD** · 04-23-2008, 04:01 PM

Originally Posted by suki

One can recognize the gravity of the situation without panicking.

What ONE situation? Mortgage crisis, food shortage, gas prices skyrocketing, energy prices skyrocketing... when have we ever experienced such a combination of issues that effect all areas of our lives?

The one issue in the article is the mortgage crisis. I agree the combination of issues are not good, but the media tends to push the GLOOM & DOOM. They focus on an issue until we're sick of it. They like to sell us worry & panic. I'm looking for ways to redirect all this into what I can do. Use less (gas, food & such) & refocus on what money can't buy. Recognizing an issue is one thing, but calling it a crisis is not the way to get the results needed.

**suki** · 04-23-2008, 04:10 PM

You're right...

The author just seemed really out of touch and I thought his comparing the economy in general to The Great Depression was really naive. In one paragraph he makes this comparison and talks about the economy in general but in the remainder of the article he isolates the discussion to the mortgage lending crisis.

I'm not sure what you would call a crisis, but when Sallie Mae says they'll no longer guarantee student loans as a result of this... I'm smelling crisis.

To offer up the still running Ditech commercials as evidence that there is no crisis, is beyond lame... it's so very weak.

**happimommi** · 04-23-2008, 09:05 PM

Originally Posted by suki

I'm not sure what you would call a crisis, but when Sallie Mae says they'll no longer guarantee student loans as a result of this... I'm smelling crisis.

.

What does it mean when Sallie Mae won't guarantee student loans?

**shortstack** · 04-23-2008, 09:21 PM

Sallie Mae Loans:
http://www.foxbusiness.com/markets/i..._567999_9.html

**PrairieRose** · 04-23-2008, 10:56 PM

Originally Posted by suki

One can recognize the gravity of the situation without panicking.

What ONE situation? Mortgage crisis, food shortage, gas prices skyrocketing, energy prices skyrocketing... when have we ever experienced such a combination of issues that effect all areas of our lives?

Oh, I dunno....the 80's maybe...? (what year did we have the gas lines...I can't remember exactly....)

I'm not saying that there aren't plenty of negative things going on but I also believe that in general the media makes it worse by harping on it. I mean, people are rushing to buy rice b/c they're hearing what a shortage there is. Does anyone relate to how the run on the banks started at the dawn of the depression? I just think we all have to keep our heads and stay calm.

**suki** · 04-24-2008, 10:39 AM

Gas lines were in the late 70's and we didn't have the combination of things going then that we do now.

**PrairieRose** · 04-24-2008, 11:57 AM

You're right, we didn't have the food 'shortages' but energy prices sky rocketed, mortgage rates were at sky high rates (we bought a house during the early 80's and the lowest rate we could get with great credit was 12%), other than the food issue was that the farmers were going broke left and right due to the sky high energy prices (all things farming are tied to energy prices) and then the big corporations started snatching up farmland. Before long most farmland will be owned by corp.s and then high food prices will be the new normal. Things were really bad then, too.