Will Things Get Worse?

The above question is something that seems to be on everyones mind lately. I recently (last week) received 4 phone calls from past clients facing some very serious decisions. Two of them had lost their job due to the current economic woes and the other two had seen their salaries cut by 40%! ALL had serious concerns on how they were going to keep their homes. These people weren't victims of financial mismanagement or irresponsible, they have simply felt the wrath of today's economic reality. Things are bad and they could get worse.

Most economists are predicting 2009 to be a replica of 2008. I know this does not come as "things we like to hear" however, this is the reality of where we are at. Why sugar coat times like these? False hope can only lead to disappointment and perhaps even further stress about the "if's". I for one am fairly optimistic about the gentlemen we have taking office tomorrow and the staff he has put together to hopefully change things for the better. This is not a political forum however Mr. Obama has plans for a $775 billion stimulus package, 2.5 million jobs, financial services reform (yes this includes the "asleep at the wheel" SEC) and a wholesale list of other items that need to be addressed asap! Hold your head up high and stay focused and things will work out. We all will be better people from facing these challenges.....perhaps we cannot see it now but "the mark" this economy has left us will hopefully be erased over time.

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Your Mid-Missouri Mortgage Lender
Posted by: Shawn Von Talge