My Views on the Credit Crunch

What if money could talk what would it say;

“Hey people listen to me, what you hear everyday on TV and through the newspaper about financial crisis, credit crunch whatever expressions used is not my fault at all.

I dont have any authority on myself, I dont dictate banks, financial institutions and mortgage companies what to do about me.

I never say a word to the economists or the finance ministers, I dont talk to tax commissioners. They are the ones who go to university and study finance. Those people I mentioned, sit around a round table and discuss about ways to use me supposedly in a more efficient way for the interest of each and everyone.

Im in everyone’s pocket, bank account, till, wallet waiting to be used. I dont plan budget for people or harass them on buying and spending.

I dont decide on my whereabouts. In the morning Im in someody’s pocket, later in the till at the bakery, butcher, supermarket, off license… At night or next morning im transfered in a safety room at the bank, later the same day Im distributed over the counter for the daily transaction.

On the trade market I go up and down like a yoyo all day long until close and I dont say anything.

In the gaming market gamblers have no respect for me at all they go crazy and Im wasted. I remain quiet and submit to their greed.

Drug trafficking, robbers, gangsters drive me nut to see how they stoop so low for the sake of me.

Im the same all over the world, I dont manipulate anyone but Im manipulated.

In Australia, USA, Canada and New Zeland they call me dollar in the UK my name is pound and Im known as Euro in other countries of Europe but still Im submitted to the will of man.

Im very often spent carelessly over things not worthy to be bought. People buy things they want instead of things they need.

Saving rarely cross their mind, partying is more important.

So what do you think am I to be blamed for everything happening in the money system. Am I the cause of the trouble today. Its easy to blame financial institution and mortgage companies but don’t you think that each and everyone should be a little more careful and wise on how to use me. Im available and accessible to everyone.

Im after all only a financial tool which if used properly would make people happy and avoid headaches.

Mortgage companies are blamed for the credit crunch affecting the world today but my personal views are different.

Well its true that they are to be blamed but they are not the only one. People like you and I also contributed for the credit crunch to happen.

When mortgage companies in the US started selling out mortgage packages with low interest rate, what was the intention of those lads behind this plan.

Did they have the good intention to help americans of low income and poor credit to have a dream house or was their intention corrupted with the lust of money.

On the otherhand those americans who took mortgage packages offered to them easily, did so without thinking of future consequences.

In my opinion many or most of them did not set up a proper plan on how to repay their loan, they did not take time to think of any way out in case they got stuck with money they just acted foolishly.

People dont realise that cost of living increases as years pass by. When prices( food,tax, transport…) went up, interests also went up, borrowers got stuck they couldn’t repay their loans and lenders were not having their money back.

I cannot pinpoint fingers to anyone but they both fell into the trap of wrong intention and miscalculation the mortgage comnpanies and customers-unfortunately all other the wrold we are paying for it.

 The credit crunch has a very bad taste but I also think that it is a good teacher for all of us. We have to seize that opportunity to learn a lesson and to correct our mistake.

If we used to mismanage money its now time to repent and take positive step by having a proper planning before spending.

Learn to save before spending, stop being selfish (if we used to be) be more generous towards others in need. The credit crunch will not last for ever its only a question of time. The patience we have now is unpleasant but Im sure it will pay off.

We will come out of this situation wiser in the future concerning money.