It's Time to Tell the Truth
That's what I was thinking as I read the news headlines today.
Doom. Gloom. Bad news after bad news.
The stories aren't that surprising to me, I was writing these same concerns a year ago in this forum, what is surprising is that the media outlets are finally catching on. While the financial news media made it out that the Fed had saved us all from financial ruin when they stepped in to ail the sinking ship at Bear Stearns a few months ago the truth was hidden.
What is the truth?
Our economy faces major constraints. Falling home prices, the erosion of value of the dollars in your pockets, and costs for essentials (gas, food, health) are rising at an insane clip.
Here's a personal example. I recently raised the deductible on my family's health insurance to lower the monthly premiums we were paying. Well, just this week I received the annual renewal statement that informed me of a rise in the premium. What drove me crazy is that my premium is now higher than it was before and I also have a higher deductible. Yeah.......WTF?
A sea change of thinking is underway. How people spend their money is changing.
Some of it is forced and some of it is prudent planning.
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