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The Sky is Falling?

by James Reza

Mon, Oct 13, 2008, 03:20 PM

The Sky is Falling?

This past week I went to my bank to cash a check. While there I saw one of
my neighbors, a funeral director and mortician. Whenever I run into my
mortician neighbor I always ask him, ³How¹s business?² With a smile on his
face, he replies, ³It¹s going down!² Coincidently, my mortician neighbor
and his brother have just built a multimillion funeral home in Lake Worth.
As we chatted, another neighbor joined the conversation and informed us that
he had just purchased a house to rent that was foreclosed and sold at a very
affordable price and at a low fixed interest rate. ³James, you and Mr. B
should jump on the bandwagon and take advantage of some great home buys
while this doom and gloom financial crisis is still ongoing,² he advised us.
I then asked him if had any problems securing a home loan. ³Not at all
James, if you have good credit the door is wide open,² he concluded.

Though my house is paid for, I¹ve often wanted to get back into buying
houses to rent. For years I owned several rent houses and they proved to be
a good monetary investment. Yes, there were times when making repairs to my
rent houses, ousting bad renters, etc. made me wish that I was not a
landlord, but, I still managed to reap a good profit from them. Matter of
fact, my rent houses generated enough monthly income that I literally had no
out of pocket money for my house payment when I purchased my present home.
Thus, my friend¹s advice to buy on this downward home market got my
attention.

There is an old saying to those who like to invest their money, ³Buy Low,
Sell High.² Today, some wise investors are buying houses, stocks, bonds,
etc. at very low prices. Tomorrow, many of them will be your new
millionaires once this financial crisis corrects itself. And if you believe
and trust the resilience of the American businessman and not the Federal
Government, you will be just fine.

Speaking of doom and gloom, I¹ve noticed how the media really hypes up the
bad news about our economy and how people are hurting all over the country.
The mainstream media seems to gloat over how bad things are and readily put
the blame on Republicans. Could it be that they have an agenda to favor one
political party? In this instance, the Democrats, and would like nothing
more than to have Senator Obama occupy the White House. I¹ve also noticed
how the media seems to find so many things wrong with Governor Palin, but
seldom report anything negative about Senator Obama. They are so
transparent in their support for Senator Obama that they literally want to
help carry him over the finish line this November.

As bad as the media says the economy is, I for one have not seen a single
skeletal starving American laying on the street as of yet. Say for
instance, like the poor starving folks we see on the news from Third World
countries. On the contrary, most poor and some homeless people I¹ve seen
and some I know personally are overweight, still smoking, while enjoying a
bottle of Mogen David.

The majority of people in my opinion who are having a hard time today are
not investors, but rather, hard working Americans who are on a tight budget
trying to pay their utilities, feed, clothe their children, and have enough
left over to buy a tank of gas. And believe me, this present national
credit crisis has nothing to do with their economic struggles. The high
cost of gasoline, food, and utilities are the elements that hurt most
American families. And guess who is mostly responsible for their economic
problems? You got it! The politicians in the Senate and Congress, again
mostly Democrats, who for years have refused to let oil companies drill here
in American, built new refineries and nuclear plants. Wind and solar power
may help, but they pale in comparison to the power generated by petroleum
and nuclear power.

The high cost of gas has not only hurt working Americans but scores of large
and small businesses as well. The cost to transport goods, food, etc. to
whatever destination has spiked prices considerably. Everything from chips
to cokes has skyrocket and families are paying out their noses for most
edible goods they consume. Then you have the airline industry terminating
workers due to higher fuel prices, which in turn affect the tourist and
business traveling industry with higher flight ticket prices. This high
cost of gas has created a more damaging economic crisis in my humble opinion
than this recent mortgage credit meltdown.

Yet, through out all this ³Sky is Falling!² media frenzy, I strap on my
guitar 5 nights a week and entertain many black, brown, yellow, and white
Americans as they drink $5 margaritas while chomping down a $20 T-bone
ranchero steak. I concur that while many Americans are hurting financially
due in part to my aforementioned reasons, there are scores of others who are
doing just fine and don¹t buy into this media economic scare tactics
propaganda.

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