Publisher's Note: I blame me
By Jody Reese
There has been much finger-pointing during the housing downturn and resulting financial crisis. Government and Wall Street both have been blamed. But while it’s true that government created a nice environment for a housing bubble and Wall Street played along, it is we consumers, we homeowners, who are responsible.
We’re not children; we’re — in most cases — voting adults who own homes, work in complicated jobs and raise children. It didn’t occur to us that home prices shouldn’t increase 200 percent in a few years? It didn’t seem like a bad idea to take equity out of our homes to buy toys or another home? It didn’t seem odd that we really couldn’t afford the home we bought, but we’d just sell it for more in a few years?
This is one of the few things that I have yet to hear about this financial crisis: We were greedy and we are responsible.
The same goes for losing jobs to China. We want cheap goods; we got them. We reap what we sow. And we as a society have willingly handed the keys to China. It’s like a company store. We work for them; they sell us their goods on their credit.
If we want to improve our country we need to start with ourselves and our actions, not Wall Street or even our elected officials. At the end of the day, Jody Reese is responsible for Jody Reese’s actions.