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The American Dream, Is That Dream GONE?

American Dream

As CNBC's colorful analyst Jim Cramer would say (if he's still alive), I am sitting here on the linoleum floor drinking cheap scotch wondering what the heck hit me. This has been a BRUTAL seven days stretch on Wall St. The cancer is now spreading to a global scare now as Asian and European Markets are plunging as well. The DOW closed today down 678 points to 8579. That's 5600 points or 40% below last years high of 14,198!

I have always been an optimist, and very bullish on the Markets but now I am really worried. I am angered by what is unfolding right before our eyes. What is most upsetting is that this was all cause by Wall Street GREED ridden hedge funds, crooked Mortgage Lenders, Banks, Brokers and dead beat homeowner want-a-bees with no money and no credit that wanted the "American Dream" like me and you. But, we have to ask ourselves was it that homeowners fault or is this a problem with the society we live in?

It would be clear to me that most America's want it all right now and don't want to put in the time or hard work that was once considered the "American Dream" to achieve our goals. Just look at the popular television programs people love. With shows like Who Wants to be a Millionaire, Deal or No Deal, and even the Bachelor all have to do with instant gratification! Be a millionaire (if that million is still worth a million) INSTANTLY! or find your love and we will pay you. I am not sure of alot of things these days but, I feel we are losing our ways in this country.

What happened to the days you worked hard, saved money, and put down a good down payment to buy a home? My father didn't grow up in this (GREAT) country. He came here with $27 in his pocket, and didn't know a word of English but, he worked hard to get his little version of the "American Dream". Is that dream gone? It's time we Americans speak up and take control. I'm not sure what the right answer's are for the mess we are in but, one thing is for certain. We always hear if it's too good to be true, it probably isn't and I'm guessing that would be considered the same with buying a home.

So long story short, this too will pass and as our priest always says "health is wealth" and if you have that, everyday is a blessing. Markets will come and go but, at the end of the day if you have family, friends, and your health nothing else really should matter. Let's keep the American Dream alive!

Posted by Greg Afarian on 10/09/2008 10:37 PM

Comments (14)

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sub prime mortgage, american dream, stock market, wall street, recession, financial markets, homeownership, homes, homeowner, mortgage

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14 Comments on The American Dream, Is That Dream GONE?

OCT

2008

Hang in there and stay positive!

Once there was a man who was deaf in one ear and could not hear even with a hearing aide.

After 4 years he fianlly went to the doctoe and the doctor said your ears are fine! THe hearing aide is in the wrong ear!

Sometimes we get lucky sometimes we get frustrated but always perservere!!!!

Great Blog!!

Mike

Food for thought...thanks Greg.

p.s. I loved your closing paragraph...said in the way of the Godfather.

Greg, you seem so wise, yet so young. But you are right on message. Sounds like you have a perrty smart priest to. Things will always be in our way but the wise will rise to the occassion.

I think there is no such thing as the american dream. it has been presented as a myth and illusion. it is merely laid out as a way to offer hope but is unattainable for many.

Greg,

Many are feeling that Dream Fading Quick in todays economy crash!

Thanks

Tom Davis

World Class Delaware Realtor

OCT

2008

The first dream is an amazing universalism. It doesn’t say "some men," it says "all men." It doesn’t say "all white men," it says "all men," which includes black men. It does not say "all Gentiles," it says "all men," which includes Jews. It doesn’t say "all Protestants," it says "all men," which includes Catholics. It doesn’t even say "all theists and believers," it says "all men," which includes humanists and agnostics.

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oliviaharis

ethical seo

Hey Brad, That's all we can do but, with the DOW futures down another 295 points its really hard.

The saying is "In God we trust!" Booms and busts have been with all countries througout the ages. We built this one on credit, and now no one is trusting it. The bigger things in life are God, family and health. You have a good priest.

Joyce, Thanks. I had to learn at a very young age that there is need more to life than materialistic and false things. I fear that alot of people have forgotten that. What should matter to people in this world is Family, Friends, and Health (in my opinion). But, it's not our faults the media has done a good job at that. In any event, your right you always preserver as long as you keep your faith and truly believe in what's important around you :-)

Eau, For hundreds of year people have came to this country for just that the "American Dream". That dream can be different and how we each get there and it's never the same but, it that dream is what makes this such a GREAT COUNTRY! Hope is also a very big part of that because Hope is a great thing. But, at the end of the day as Thomas Jefferson said "Life, Liberty, and the pursuit of happiness " is perhaps we can accurately define as that "American Dream".

This is planned - engineered and supported by the banksters and their mouthpiece media outlets. Watch what comes out of the G7 banksters meeting. Ask yourself what in the HELL is a "Republic" such as the USA, with its own Constitution (and its own Bank, wink -wink) going to do a deal with a bunch of world central bankers? The 800B bailout was a test to see what "pansies" we really are and of course we know how limp wristed our elected Representatives are. No protests- no uproars- just a bunch of Sheeple.

Those of you that think markets are free....the trading markets are nothing more than what is driven to them by the amount of Fiat money credits into the money system....it's like money laundering with credits created from fiat banking systems.

"Life, Liberty, and the pursuit of happiness " This will take on a whole new meaning.

"America is Now a Dictatorship"

"Oppose the Banker Dictatorship"

"The Financial 911 is a Scam"

"No Emergency Powers for Wannabe Dictators"

"Restore Constitutional Government NOW"

"End the Fed! Gold is Money!"

State and Municipal government bankruptcies are likely within the next few weeks. My guess is that is what the action in the stock market is discounting right now. If you are in Massachusetts or California and rely upon state assistance, there will be disruptions.

A global summit is being announced at which the bankster dictators will tell us their plans for remaking the world economy in their image. Anticipate a new global financial regulatory body (perhaps even a new World Central Bank) and moves in the direction of a World Currency. Please note that participation in such by the United States is predicated upon RATIFICATION by the Congress. If the Banker Dictatorship bypasses this requirement, we can take that as further evidence that the Constitution has in effect been suspended and that dictatorship is a concrete reality in America now.

They have everything they need. They control credit-Energy and food. Most importantly, they have the MSM....media is the key control. The Sheeple will be watching. The Sheeple will be looking for leadership inthe New World. The weapons that are so nicely used against other countries...will now be used on US for crowd control. Laugh at the RNC-DNC police state, its just a warm up kids.

I pray that I am wrong. But if you look at history for the last 1000 years and more specifically, the last 100 years...you will see that this Can and WILL happen. We bought into WWI, we bought into WWII, Korea and Vietnam- Desert Storm....and hook line and sinker for IRAQ. Ask yourself how did Hilter do what he did...Germany was BROKE, flat BROKE, Hyper inflation, no Friends. Banks and financiers were Hitler's only firends. Hilter preached exactly the tone some of our folks are looking for and some of the world is looking for. They want to follow...they want Motherland to take care of them. All you need is media control, financiers, weapons and a mouthpiece that people will follow. And follow the German People did.

Good Luck everyone.

Mark, WOW... Thanks for that GREAT post. I too am upset, worried, and scared, as too what is going to happen. After I heard what the Mass Treasury Secretary had to say, I wonder if Massachusetts will go belly up too? What we need is for people to speak up and take control. These FAT CATS in Washington have gone too far. At this point the markets being down 25% in 1 week we should have let the banks fail? Maybe we need to have a bank holiday, shut the markets and lets figure this out? G7? Please, did you see what France had to say? I have no confidence in any outcome they will have. Who gives a care? I know lots of people that pay 24% on their credit cards? I've told them to call and ask them to renegotiate their rates and these companies LAUGH at them. Should we care if Bank of America, WAMU, Wachovia, go under? At this point I think they should have? This all comes back to one word GREED!

As to history repeating itself. I hope and pray to GOD that doesn't happen. I am Armenian and as people may or may not know, Armenian's were the 1st Genocide of the Twentieth Century to wipe us off the face of the Earth. http://en.wikipedia.org/wiki/Armenian_Genocide

The Turks Killed 2,000,000 Armenian and they still to this day don't respect us and recognize what they did. DENIAL is the worst part of this all. American Ambassador to the Ottoman Empire Henry Morgenthau stated the ATROCITIES and MASSACRE! http://www.armenian-genocide.org/morgenthau.html

I guess that why Hitler always said "who remembers the Armenians"! Anyways, It always the same story about politics, religion, and money. I pray to hard everyday we don't EVER need to experience that.

SO, ending on a POSITIVE NOTE, The TURKS and Hitler BOTH FAILED! And, so will anyone else!

OCT

2008

right on Greg! one thing is for sure. You can always count on the media to tell us how bad things are and how bad they will get. My grandfather said "most of the things in my life that I worried about, never happened." or FDR..."the only thing we have to fear is fear itself" so America, turn off American idle and get back to work. Stop looking to the government to solve all our problems and remember some core values. Save money for a down payment to buy a home and keep your credit clean instead of looking for a no money down program. If you want something, save up for it instead of over extending your self with more debt to have it. Pay down your debt instead of using your home as an atm machine. Demand that our politicians do the same or we will be dumping this credit problem onto our children. America is the greatest country in the world and let's keep it that way.

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