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WeAreQC.com Newsletter - March 11, 2010
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WeAreQuadCities.com Newsletter - March 11, 2010
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| WeAreQuadCities Blog: |
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I read a story today (well, skimmed would be a more accurate term) saying that many Americans are slowly beginning to regain some of the wealth they have lost over the past two or so years. I know the QCA wasn't hit nearly as bad as some other parts of the country during the recession, but that didn't mean people weren't affected. Yours truly spent the first four months of last year unemployed before I got back into the workforce again. Of course, that's my fault for getting into the seemingly slowly dying media industry, but that's neither here nor there.
What I was wondering was if anybody agrees with the premise of the story. Does it seem like things are slowly getting better out there? Obviously, there's still a ways to go before things are back to "normal" (whatever that means). But everything seems to move in cycles, and this too shall pass. Of course, the real question is going to be, have we learned from our mistakes? Or will we keep making them, inflating a bubble and riding the wave until the bubble pops and the wave slams into the side of a cliff.
I'd like to think that we'll use this as a learning moment and be mature enough to make the right decisions when the time comes, but as long as the belief exists that we can borrow our way to prosperity or never have to pay the debt, that you can get money for nothing or a 5,000 square foot house without having done anything to earn it, we'll probably find ourselves back in this place once again. It would only be a matter of when, not if, unless we kick the 'instant gratification' mentality to the curb.
So here's to hoping that we all do our part to educate ourselves on how to be personally responsible and good stewards of our financial situations. That will go a long way towards making sure we don't repeat the mistakes of our past. What do you think?
Jeff DeVore
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