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Saturday, Nov. 22, 2014

Oiling the wheels of greed?

Posted Monday, October 15, 2007, at 3:56 PM

What do you think? Is it real…or is it greed?

When the stock market closed Monday crude oil was at a record high of over $86 a barrel, a rise of 9% in five days.

We hear so much about huge problems in the housing market and among the problems cited are builders simply building too many homes, having a huge inventory of unsold homes…and this lowers the value of all of our homes. Are builders the total problem or must some realtors also share the blame for all of this nothing down fiasco?

And then we hear of credit problems. Are you surprised? Why worry when you can buy a new car with nothing down and regardless of your past credit record or no interest on furniture or other items for until as far out as 2012?

How many of our so-called leaders dare take a stand and demand an end to some of these problems? Would he or she be standing alone?

I don't even claim to know the answers. Admittedly, I'm not that smart but I see some disgusting sights.

Recently I saw a young man, who was in trouble, throw his cell phone against the wall. He mother admonished him very briefly. He informed her he still had two more. She told the young man he'd better have more cell phones since she didn't get another check until "next month."

I fell sorry for young, responsible couples just getting started and desperately wanting to buy a few necessities.

Am I wrong when I say they, like all of us, are paying the price for irresponsible people among us at all levels of society?

Showing comments in chronological order
[Show most recent comments first]

yes you are wrong!

there should be a manditory class in high school, maybe even starting in middle school on finance. these "young couples" should not be starting their lives with morgages that are half of their monthly income! it is ridiculous!

they want to have everything all at once. they dont know the meaning of the word starter home. now as for the housing market, the perception is that we are off 25%,what we are,is off 25% from last year,which was a record year by anyones numbers. yes there are a few too many homes on the market in the 175-225 thousand range, but the market is still very good in the 75-90 thousand range. as soon as the inventory thins out some on the bigger homes it will be back to normal, not back to last year, but back to normal.

so basically what i am saying is that PARENTS should start teaching their kids about budgets and personal finance and they would know what they can or cannot afford. not just what they want.

you think our leaders should take a stand, i say it is us who should take a stand. start with the chidren.

-- Posted by tdc on Mon, Oct 15, 2007, at 5:45 PM

Glad you expressed your opinion. So we have different opinions. Nothing wrong with that at all.

-- Posted by bomelson on Mon, Oct 15, 2007, at 7:27 PM

Personally I feel our leaders should do or better yet should have done something years ago about exploring alternative energy sources. Perhaps I should say should have done more, as alternative energy sources are being explored, but the major oil companies are the one's with most of the exploration. Wonder how far they will go? *rolling eyes*

Those that get rich from owning stock in oil companies (Bush & Cheney to name a couple) and the lobbyists that also get rich and pass along money to legislators are the ones that are getting rich at the expense of this nation's national security and economic health.

I for one do not think that ethanol from corn is a viable solution either. Some other form of ethanol might be an answer, but there again without R & D and possibly government subsidies no other form of alternative energy is seriously considered...what are they waiting for. Gas to be $10 a gallon?


-- Posted by HorseGentler on Tue, Oct 16, 2007, at 11:50 AM

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Bo Melson is a retired sports and police beat editor of the Times-Gazette. He passed away November 15, 2014, at age 81.
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