Tuesday, September 23, 2008

Corporate Greed Has Failed America

Yep, that's about the same face she had on today's airing of Oprah. Suze Orman was one pissed woman. Hell hath no fury like a financial guru when talking about a country's failed financial system. I'd hate to make her mad, I'm telling you.

Today's episode was very interesting AND timely. Today Oprah and Suze discussed the famous 2 words that everyone on Wall Street was asking: WHAT HAPPENED? Well, let me tell you that Suze told everyone why and what for.

After she was completely lathered up ranting about CEO's reckless management of their companies strictly to get their multi-million dollar bonuses, salaries and stock options. When Oprah asked, "How serious is this problem of our economy?" Ms. Orman still in full lather, glared at Oprah for effect and said emphatically, "This is as serious as the crash of 1929." You could have heard a pin drop in the studio.

She then began stating what life was going to be like for Americans as a result of this fiasco.
  • People won't be able to secure home loans (or car loans for that matter) unless they really can afford them. This means there will be alot LESS home ownership and much more rental properties.
  • Until the gas issue is resolved, bringing back the 1970's "odd and even" gas fillup schedule.
  • Eating out will be a rarity for most people, staying home will be the norm.
  • People will keep their cars for 10 years or more instead of buying new cars with any frequency.
  • Charge cards will be a thing of the past. Our society is already moving toward a Cash Basis.
  • Student Loans will be almost impossible to get.
  • Leasing cars will also be a thing of the past.
Today I watched a financial expert tell everyone that our entire financial world is being turned upside down. I saw her tell a family that was $90,000 in debt that "You can't afford to live in your home. Move into an apartment or stay with family." It's becoming scary out there...

Now, where did I put my $600 "stimulus tax refund?" I will probably need it to help pay with other Americans the $600 trillion dollars that Dubya allowed to spiral out of control.

Oh, and did you hear on the news that Nashville, TN is the only city in the entire 50 states of these United States to run out of gas? Am I the only one that knows that this is another crock of crap?

More Musings Later-


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