Month: March 2009

The biggest advantage that the average joe and mainstreet struggling individuals have today is that they are actually on the streets.   In simple laymen terms, these people have the ability to interact with the right occurences in the society and state of the economy.

It’s just like isolation can be futile to the pyschological make up of an individual.  What’s the sense here is that since people are so desperate that they do not have any cash resources to get by, they stay at home and sometimes get isolated.   So regardless of what maybe people’s desire to spend and really help the economy, they are constraint. 

Believe it or not there are so many struggling people who are very much compassionate and passionate of how to realistically be optimistic.  Unfortunately, while the toxic assets are said to be bought from the banks, the collectors have been very progreassively haunting every hour of the day to collect from consumers.   Encouraging people to start spending is indeed very important to stimulate the economy.  But convincing people to buy cars and houses is another thing as there should be a fine print in advertising stating “subject to credit approval”.  After all, it will be interesting to know the difference on the numbers that are really qualified without a down payment or lenders approving just because someone has  a job.  Did the crisis not start because someone was employed and with such criterias instead of the real credit and spending behaviors?

Perhaps, understanding the real individual circumstances may help in order to find out if the average joe is the real culprit due to miss, late or non-payments.  Just maybe it would help to see some history of the consumer if indeed in the last few months regardless did they tried their best to earn a living and pay their bills?  I honestly believe that some modest living individuals are really trying their best efforts to survive on their own. What about for small business owners which simply bootstrap their way to have operating cash because no one will give them loans?

The unfortunate art of the scenario is that even extremely chronically ill and disabled individuals have even made their efforts to risk their own health.  This is a problem for everyone and it’s just a little too late and off track to figure what really happen in the immediate ncessary term.  What we desperately need to do immediately is inject the cash to direct benficiaries.  Who knows if the only way is to open bank accounts for individuals or reactivate banking accounts which were closed because of the toxic overdraft fees imposed to consumers why not?  The financial educati0n then comes together by making these depositors pay interest charges and make them aware that their assets will be on the line if they do not start at this point in  becoming financially responsible.

In the last few months or even a year since this recession started, there have been a big literacy amongst consumers to be financially responsible.  Hence, this why spending started to halt and cut.  And yet since there were un-responsible people who were taking home mortages and car loans when they cannot afford it, what happens to the people who did in  every way try to live modestly within their means?    Yet, these are the people that are now haunted by these collectors and the financial system because they don’t have the voice being low income.   Meanwhile,  they have tried every single means to survive to the point that some are now homeless or on the streets.   Why not give these individuals the chance and some of them are even doing home based enterprises just to make it day by day.    The best part of this lesson learned is that this people are socially responsible.  When they see the sociological impact that is being done  to alleviate their hardships, they will be the very key of mainstreet prophets that will advocate that we need to stay focus, optimistic and compassionate as change is indeed possible in mainstreet.