Crisis

It probably seems to you that we all must be obsessed with the word crisis as we want to use it so often. However, I think I would like to tell you my take on the so-called-financial-crisis now being discussed on the news.

I don’t believe there really is a crisis at this time. I think most of us are doing fine and if Obama would leave the banks alone and let the weak sink and the strong take over, it would correct itself, just as it always have. It is when the Washington clueless enter the picture that we begin to have trouble. However, if there really is some kind of crisis, it was caused by the media and the administration of Obama-mania who apparently doesn’t understand the basic fundamentals of finance taught by most parents to their children. “If you have it, save it, if you don’t have it, don’t spend it, if you can survive without it, you don’t need it.”Or as Ben Franklin put it, “a penny earned is a penny saved” and I would add, a penny saved will soon be a dollar in the bank if you have any “cents.”

When I was about ten I saw an advertisement for the Compton Savings and Loan that said they paid 3 and 3/4 percent on money you deposited in a new account,at our local bank paid they only 1and1/2 percent. I rode my bike to the S&L and the clerk wouldn’t let me open an account, the manager came over and told me I needed my an adult to open the account. I asked my mother to go with me, which she did and helped me open the account. When I was in high school I went to his home with his son and he remembered me. I was quite surprise, but he told me they didn’t get many ten year old trying to open a bank account so he had remembered me.