Actually, the money that I am spending, I am putting it almost exclusively into my local economy - to the extent that is possible. I have tried as hard as possible to stick to small businesses, because I feel like "free market" has been completely purged from capitalism, especially in today's economy. What I want to see is a return to the free market capitalism of the 1970s-1980s, when entrepreneurship was attainable, when wages were "livable" and home ownership possible by most average Americans who worked full-time, when schools districts were solvent and classroom sizes manageable. My 76-year-old father got his property tax notice Saturday; his taxes tripled from last year. He has glaucoma and relies on Medicare Part D for his three eyedrops that cost over $1,000/month.
No, I feel no shame. The millionaires and billionaires need to be put out of business. Only when their pocketbooks are empty can this country pick up and recover with real jobs for the people. Real jobs with real wages.
Okay, that went ... let's try some crafty wording to get around their censorship. The point I wanted to make about my altered shopping habits is this: besides simply cutting spending, I have also changed where I shop. I know who runs the stores where I shop and how much money they make. Six or fewer digits, I will go there. More than that, then I feel the boss was a direct participant in the downfall of our economy and doesn't deserve my money. It does limit what I can buy, and I'm not able to apply this to pharmaceuticals, but I feel like I've been able to eliminate myself from participating in the carnage.
I think I figured it out. The second part of my post won't go no matter how many different ways I reword it. They don't want me talking about rich CEOs and where I refuse to shop. I'm thinking even this much will get pulled. Let me see.
Rewording again ... third try. I will try again, and see if they like my rewording. I have curbed my spending, but it isn't because of fear. My husband's career is secure for now. The reason I've cut spending is to hurt the millionaire CEOs who control the vast majority of our economy and who are almost exclusively responsible for the collapse of our economy. Top economists and even several bankers warned Washington in early 2006 that subprime mortgages were going to cause our housing market to crash, and those warnings were ignored. Here we are. This is just one part of my post. I’m trying to see what part they don’t like.
Having said what I did about our specific situation, my husband is an officer. I don't think that necessarily applies to enlisted people who make a lot less than we do. Some bases have housing that's quickly available; it isn't here. The wait list is 6-16 months, depending on rank and family size. Rents here are exorbitant too, but not nearly as much as buying a house two years ago. My understanding, people were "flipping" houses - buy/sell, buy/sell - because that's the only way the military could afford to live here. Believe it or not, the VHA does not come close to covering the differential, even after the bust.
Oops, I meant to also say, there is a huge tax benefit in purchasing.
Sorry it took me so long to respond; either this site was too busy or my computer was being slow. Thank you for your last comment; we always appreciate hearing thanks from the civilian world - sincerely!
As for not buying homes, this is the first time we've opted not to buy since leaving Minot in 1991. Why? The down side of being military and moving frequently is that you retire in your 40s or (in our case) 50s, looking at a brand new 30-year mortgage. Ouch, payoff in your 80s. If you buy homes throughout your career, then you will hopefully build equity each time you move and have a good down payment and be able to get a 15-year mortgage when you retire. If you rent your entire career, rents are about as much as mortgage payments, so you aren't able to save a down payment. That's why we buy ... and we got very lucky on one house that appreciated 50% in three years.
What constitutes moderation/pulling a post? I guess we aren't free to say what we feel, express our opinions, contribute to the debate. I posted a response; it was pulled. There was nothing objectionable in it. Nothing whatsoever.
There is another economic problem brewing: retail. Only one retailer had an increase in sales in November - the one that is always cited when a national chain like Circuit City files Chapter 11, saying they can't compete with the discounters. They were cited when Sears and Kmart merged; now Sears and Kmart are in trouble again. I have boycotted this mega-retailer for over a decade, because I know that when they are the only giant standing, they can set prices however they like. Also, I find their employment practices less than tolerable: lowest salaries the market will bear, mostly part-time job to avoid providing benefits, unsafe working conditions. In today's economy, we are seeing the effects come to fruition much more quickly as many national chains close locations or close altogether.
One little problem: my 83yo mother-in-law has a life insurance policy with AIG that is probably 40 years old. She pays $11/month for it. The same policy today, if bought new somewhere else, would probably cost $2000/month. Some people can't boycott AIG. Otherwise, I absolutely agree with you! I haven't done so yet, but I plan to take my money out of one of the "big nine" banks that got the $125 billion. (I was waiting to close on a home first - deposit that money, then transfer it, so they know how much they're losing.)
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Thingamajig