Woodrow Wilson once said, "The truth is we are all caught in a great economic system which is heartless". Was he ever right! We do not want to undermine the storm that has come ashore. But, a storm is what it is. It will pass.
In times like these, it is important to put things into perspective.Stock market.
It is still over 10,000. In 2002, it was at 7,500. In the early 80s, it was at 750.Foreclosures.
Today, nationally, they are less than 3% (Massachusetts is even lower). During the great depression of the 1930s, foreclosures reached the height of 50%.Unemployment
. Nationally, it's at 6.1% today. In the early 80s, it was 11%. During the great depression of the 1930s, it was over 20%.Inflation.
Core inflation has been ranging between 2-3%. In the 70s, it was double-digit inflation. It was dramatic, and it was dubbed "hyperinflation".Housing.
If you measure your net-worth by the value of your home, it has come down. Depending upon where you are, home prices have declined by 10-20%. They are 50% higher than they were at the start of the decade.
Now the government is unveiling its plan to right the ship. Constructive and effective government policy measures will help fix the market's problems. We've seen problems like these in the past; and, you can bet you'll see them again in the future. We will get through this difficult time.
If you'd like to talk, give us a call. Feel free to share this email with others.Time to Share. Create a Buzz.
Back to school time! Especially for college students. How to choose the right one? How to pay for it? It's all so overwhelming! Well, Campus Bound
has created a resource booklet entitled the "7 Pillars for Easing the College
, which can be downloaded from the home page of their website.
We just love a good benefit silent auction
. How about you? Check out the items on the Plymouth Philharmonic Orchestra's on-line auction
. New items are being added daily. Check back. You can even bid on a private, in home cheese class taught by Paula Harris.
Highballs and Hobnobbing.
If you are in the Plymouth area on Thursday, September 25 from 6-8 PM, stop by Talbots at The Village at Colony Place. You'll receive a 20% discount on everything you purchase and Talbots will donate 20% of the evening's proceeds to benefit the Plymouth Philharmonic