standard of living.....

In our daily texting of messages, Morgan says she is having a great time. She also found duct tape for the rip in her luggage. That will make it easier for her because they are in a different hotel almost every night.

Also, Kelli is the name of her Australian friend, who she has been traveling with. I told her not to bring up Olympic basketball, because the Americans knocked off both the men's and women's teams last week. :-)

I was watching CNN's Your Money, like I do every weekend (and yes that is as exciting as it sounds), and someone on the show was talking about the sluggish economy with regards to the economy in general plus the lousy housing market (some say lousy, I say correcting), but then added the statement that it is quite possible we would not have a better standard of living then the last generation. Not only is that a ridiculous statement, but I also feel it makes people that do not follow these things closely "fearful", which then causes even more problems.

As I stated earlier, all economics is cyclical, and everytime we hit the top of the circle, it is a little higher than the previous "high". The bottoms fluctuate on how low they go, but the tops always prevail over previous ones. Now, sometimes you go around the circle quickly, and sometimes it is like the Ferris wheel that seems to stop every two seconds. Right now, we seem to be on that slow moving wheel. I believe one reason for that is because of 24 hour information overload. It feels slower than others because we hear, read, and get links about it multiple times a day.

But, for the life of me, I can't understand the "lower standard" statement. A "generation" is supposed to be over a time period, not just "today".

Now, if you want to take that "snapshot" of the person $100K "upside down" on their house, and compare it to his/her parents, sure they seem in worse shape. But, what about that house? I will bet it is worth more than their parent's place at the same time of their lives. Sure, it might be "upside down", but if they waited it out (like our parents did, as they had much better economic patience then us), in a short time (relatively) things will turn around. These are just called "rough times", not some lowering of our standard of living, as compared to our parents.

Also, it is called "standard" of living. Standard means the basics that you need everyday to get by in life. Well, guess what? If you strip all the "extras" and "luxuries" we have and that we think we are entitled to, and "must" have to survive, we are well ahead of the game.

Ugh! Just wish some of these "talking heads" brought on as "experts" would think just a second before speaking. "Normal" people that are not "in tune" with money and economic matters are persuaded very easily by those who they think should know about these matters (I know the "power" I have, and I'm just the tax accountant).

More on those "extras" and "luxuries" in another post.

- Don't agree with his politics, but I like Joe Biden.
- OK, you Idol fans, you now have a 4th judge to complain about.
- Lots of bumpin' at Bristol on Saturday night.

Until the next time.....