My husband Scott just sent me his writing on the state of the country. Here it is:
"Clinton Sold the House., Bush Spent the Money"
During Clinton's White House, America signed agreements with Mexico, Canada and China. These deals came with profound short term benefits for our capital markets and domestic economy (these don't necessarily go hand in hand).
The long term benefits of these gains didn't even last out the Clinton administration. During that time, the economy was showing signs of inflation and the "Tech Bubble" had already burst. However, the country was still fat with borrowed cash, most of it sitting on the sidelines in the form of potential credit.
Eight years later, six of those war years, and Bush has spent all that money and maxed out our credit.
Thanks to Scott Gregoire for that take on our maxed out, mixed up mess of an economy.
How maxed out are you and in which way?
You can write back to jillcunniff@jillcunniff.com and tell me.
I'll put the best responses in the mamalog.
Ahoy Matey, you can still jump ship on that crap mortgage-look up a company called You Walk Away that I just read about last week in the New York Times. Especially helpful if you didn't put your life savings into the down payment. I knew the mortgage industry was devious when they were trying to sell me a refinance loan with crazy adjustible rates and they RUSHED through the sales pitch like they were on speed.
Let the buyer beware. Be very, very wary.
Jill
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