I am going through a nasty divorce after 6 yrs of marriage cheating happened on both sides age difference did not help he is 38 yrs old and i am only turning 26. I have two kids a 3 yr old son from an affair that i had and 5 yr old daughter thats getting a paternity test because of same affair .We lived very well my current home is worth 500,000 our furnishings are worth worth about 25-30 grand i can not afford to maintain this lifestyle.My hubby wants to have the house sold so he can move back in ex.wife who he was having an affair with and his 2 kids. I have not worked in 3 yrs so cant afford to keep home and i only have 8,000 in savings at present i have never had to manage money.My daughter is used to having whatever she wants and so is my son i am used to giving them nothing but top of the line?Neither child understands what going on at the moment?
In June I will have pack up my 2 kids into my volvo with our 3 dogs and cat to move to a cheaper area.Hubby will not make it easy for me to get any money.
I was just thinking about how all of this economic turmoil was caused. Think about it- people took out bad loans from greedy corporations in order to greedily buy gigantic houses that they could not afford. Either that or they refinanced houses and took out equity to buy things they really didn’t need. Everyone thought they deserved the best of all things material, and when it came time to pay the piper, they couldn’t do it…People’s mortgage prices went way up because of the bad loans, so consumer spending went way down as people scrimped to save their houses, and the economy is now in ruins! If you read about the conditions in the 1920’s that led to the great depression, you’ll see the same trend. Greed and covetousness, only during that time the focus was on making “easy money” on the stock market, whereas this crisis was fueled through the real estate bubble. My question is, when the economy gets better, will people just go back to thinking they need and deserve every luxury and start a new cycle that will eventually lead to another recession? I mean really, when you see things like women prancing around with $500 Coach purses and Gucci sunglasses when there are children starving in this world, don’t you think our troubles could be a whole lot of well-deserved bad karma? When will people learn and how can we change our cultural values to focus more on the value of people than things?
Chris- I am not an expert, but I do have a BA in Social Science, which required me to take many classes in economics. How many have YOU taken that you understand the economy so well?
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