Difficult Economic Times

We are living in very difficult times. Real estate values have dropped, many people have lost their jobs or are making less than before and the cost of living just keeps going up. I see it a lot through my real estate practice since I do a lot of loan works and short sales for clients.

With the pending election and the unprecedented things we have been seeing: gas prices in excess of $4 per gallon, a very weak overseas dollar, a black man and a woman running for President, it got me thinking about where we are as a country and where we might or might not be going.

Recently, I visited a recycling center with my son's cub scout troup. I was fascinated and impressed with what this little town in my area was doing as a community to recycle. I was embrassed that, as an afluent community, my town was doing very little besides having us leave paper and bottles on the curb every two weeks. The recyclers were not only recycling 80 to 90 percent of their garbage, but they were doing it in a manner that raised upwards of $200,000 for a series of 25 charitable organizations and groups.

I think when it comes to recycling and conservation, we are mostly in the clouds and doing community imposed things that we accept on face value. I learned something (or realized something I guess I already new) that day. Our dependence on oil (more particularly foreign oil) goes way beyond automobiles and other gas powered machinery. It goes to the production of plastic, plasma tvs, etc... The gentleman who was giving the kids their tour was a vet - former military man. And he was more than vocal with his thoughts about how we give away jobs and other things to other countries. He grew up in a pro-American, anti-foreign era. But things are different today. In the words of syndicated columnist Thomas Friedman, we live in a flat world, one where we participate globally rather than compete. The sooner we realize this, the easier it will be for all of us and the easier we will be able to help our children prepare for a different world ahead. Our military tour guide was trapped by a belief in xenophobia that has less applicability in today's world.

We must, along with future generations to come, change our use and dependence on oil. Period. It's not a political issue, it's a survival issue. We need to start treating capital resources as precious - you preserve capital; and put income resources that are replenishable to better use. I don't know if plastic is going anywhere, so we have to learn to better recycle it.

I am rambling and getting a little tired as I write and think. I highly recommend you read Thomas Friedman's book, The World is Flat and others like it. It will change the way you see things. Next time: Geocaching!