DEJU VU? It’s the 80’s again.
September 20th, 2008 by Tish Johnson
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Anyone that was in business in the 80’s through to 1995 remembers the Savings and Loan meltdown. FSIC? Remember when you THOUGHT that meant you were insured in your savings up to $100,000? only to find out you were insured UNTIL the FSIC ran out of money? Of course that could never happen today.
Gas got up to GASP $2 maybe $3 a gallon! Yikes. We only WISH it would go to that price.
Inflation was totally out of control. Didn’t President Carter start a WIN campaign? Whip Inflation Now? Doesn’t look like much chance of that this time, there’s just not enough of this economy left to inflate. After all was said and done, the Congressional Hearings over with, the official report came out and a particularly interesting two chapters aptly named “Dump Truck Banking” talked about how greed took over and we lost one of our favorite financial institutions - SeaFirst Bank. Looks like more of the same. Deja Vu
Every bank, every investor, every citizen knows that you can’t loan money to people without jobs and ever expect to get repaid - but when you are in the middle of that Ponzi Scheme we politely call the “sub-prime mortgage”, it is almost impossible to protest/get out/know what to do.
I’m excited about the future. I’m not too excited about what my children and their children will have to pay back, but there are going to be so many affordable opportunities in the next ten years, that anyone willing to be part of the solution, will do very well.
Here are some statistics I have been hearing. If anyone is out there, can you dispute them? 700 lobbyists for every Senator? what a glorious day when some of those pink slips start going out. It occurs to me that the number one job of a politician, it to get ELECTED. The number two job is to get RE-ELECTED. It just doesn’t leave a lot of time to pay attention to the job of Government. Maybe that will change?
Is this all the Baby Boomers fault? We had such a chance back in the day to make things better, but with the assassinations and drugs, it was like it lost steam. Heck, even the Black Panthers group lasted seven years, I don’t think the protesters on campuses and in cities all over the planet lasted more than a couple of years.
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The Author: Tish Johnson
About: Tish Johnson is a Seattle native; through her real estate printing and marketing company, she identifies properties and markets them through networking and print marketing to secures buyers. She is also active in markets in Dallas Texas, San Diego, CA, Grays Harbor County, WA. Specializing in out of state buyers looking to gain a presence in the Seattle and Northwest Markets, she also works with developers to build green housing/developments for use in independent living facilities.
This entry was posted by Tish Johnson, on Saturday, September 20th, 2008 at 12:22 am and is filed under Featured, Real Estate-Res., Real Estate-Comm., Club News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response below.
3 Responses to “DEJU VU? It’s the 80’s again.”
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September 22nd, 2008 at 8:02 pm
Great post Tish. It’s unbelievable that we can’t learn from history and our own past mistakes. You’re so assertive in your comments. Although sarcastic, the current financial situation reminds me the one of Argentina in 2002. And how we laughed at them back then. History proves once again that many of our society’s problems are not in the environment, but inside us, in our hearts. The sad part, we human are the same no matter where in the world we’re from.
November 13th, 2008 at 12:53 am
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April 27th, 2009 at 4:41 am
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GREAT ARTICLE