Have you noticed lately all the news and talk shows that are showcasing families who are hurting because of the decline of the stock market?  I'm not talking about those who honestly  have situations outside of their control. I'm speaking mainly about those who have no one to blame but themselves for not being prepared.   It's time to fess up and pay up for the excessiveness that has raged out of control. 

It makes me shake my head.  What are they trying to (subliminally) tell us?  Are all these examples we're hearing about politically motivated?  Is this just another Bush bashing moment reminding us all 24/7 this is  his fault?   

I mean where were the media and talk shows two years ago when we were all making money hands over fist?  I don't remember any news or talk shows showcasing people smiling pretty because they were making good money. Where was the media when we were all overspending, buying things we didn't need or going out to dinner way too often?  Look at the average size of Americans.   They can't build enough restaurants around here.  They're full every night still and still continuing to fill the stomachs of those who like to eat out. 

Personally we really started getting involved in the market as our kids started college.  Before then we didn't have any extra money to put away.  But as our income increased we started doing some investing mostly in conservative stock but were also well diversified putting some money into CD's and real estatel.  But our bills were paid.  No debt.  Everything was cash as much as possible. 

We did very well and made really really good money the last six years or so.  We were making such good money we decided to keep it there when we bought another home choosing instead to take out a home equity loan on our fully owned house to help finance the new home.  So we paid for our new home cash and had this line of credit on the old house until things started to go south with the economy.

Last fall the winds shifted and the market started showing signs of distress but not too badly and we waited.  In January we got nervous and took it all out of the market and paid up the equity loan so both houses are free and clear. We were so glad we did considering the latest crisis.   Now we wished we took it out last fall.  We figured we lost maybe $25-30K but even so we made way more than we first invested not that many years ago.  We're still ahead.  Our house may lose value but we could be worse off. 

What goes up must come down eventually.  We all know  there is feast and there is famine.  What gets me are those complaining because they're not prepared and they're whining about it. 

It gets them on TV.

A 17 year old girl wrote the Dr. Phil Show (and subsequently became a guest) voicing her concern about her working mom.  She was worried her mom might have to work the rest of her life until she dies.  Come to find out this mom is a high end Real Estate Agent who most likely was making money like there's no tomorrow before all this happened. 

Now, of course the Real Estate Market has virtually come to a halt.  Did she save?  Was she prepared?  They all knew about the handwriting on the wall.  How could you not?   I've worked with Real Estate (from the accounting side) for most of my working career and saw this up close and personal.  They couldn't sell enough houses and the prices were thru the roof.

Ben Stein was a guest on this Dr. Phil show.  I think he nailed it when he was asked to give his suggestion.  He looked at the Mom and said "there are other jobs out there, not great ones but it's work.  It might not be high end Real Estate but it will pay the bills."  He then looked at the 17 year old and suggested she was old enough to help her mom by getting a part time job to help out. 

Dr. Phil turned and asked the young girl what she was doing and the girl said almost in defiance "I'm a full-time student."  I'm gathering she was saying she didn't have time for a job.  She could at least  pay for her own clothes and cell phone I'm thinking. 

Then today on one of the morning shows they profiled a family with two sons, one in college and one still in High School.  The mom said they had enough money in their tuition account (tied to the stock market) to have paid a full four years in cash for her eldest son's tuition but now it looked more like 2 1/2.   She says now she's clipping coupons and may have to go out and get a job to help him pay for college.  The son is NOT working and from all accounts it looks like he's contributing nothing to his own education. 

Pretty nice deal.  Don't tell my kids.  I've been clipping coupons since my kids were in diapers.  Still do.  I didn't feel sorry for this lady who looked like she lived in a pretty nice house. 

I figured this mom saved roughly about $100-150K or so for her sons' tuition.   Was she complaining when she saw the numbers go up with each stock report prior to this decline?  Where were the cameras then? 

Then there was another young couple on a talk show who said they owe about $150K just in college debt!  Excuse me?  What were they doing while they were going to school?   My three boys didn't come out with that much debt totally between the three of them.  Not even close. 

And this is what kills me.  Dr. Phil looks at these people and the camera and says "don't beat yourself up.  It's not your fault.  You didn't cause much of this to happen."   What? 

Give me a break!