Did We Fail to Listen to Mom and Dad? - Just another day in the mortgage mess

I heard a Reporter state on the news today, that Americans should save their money. As Jim Cramer stated the other day, "Do not let the media confuse you."

Here is a history lesson: The former Chairman of JP Morgan, during the Great Depression, stated something similar to what this Reporter stated today, but Mr. Leffingwell was more animated. He stated, "The remedy is for people to stop watching the ticker, listening to the radio, drinking bootleg gin, and dancing to jazz...and return to the old economics and prosperity based upon saving and working." (from the book, "House of Morgan")

On the contrary, John Maynard Keynes, who was the leading British economist inspired by the unemployment crisis during the late 1920s, stated something brilliantly, in my opinion. Mr. Keynes, "warned that such austerity would only deepen the Depression". (from the book, "House of Morgan")

America, remember as children, the saying our parents embedded in our heads? "Always save for rainy days". Never once did our parents warn us to save during a crisis. Maybe that’s because our parents knew better. Think about it, a lack of consumer spending is potentially the biggest threat to an economy's recovery. Example: Japan. The citizens of Japan have the highest savings rate, but their country has had one of the worst economies for over a decade.

America, many of our parents warned us of rainy days, but never did they warn us to save it on the day it rained.

Therefore, my message to America: If you can buy school supplies, will you please buy them for your kids and/or donate them to a local school this coming weekend? If you have the affordability, will you please purchase school supplies for a local school? If your neighbor cannot afford to purchase school supplies, is it possible for you to purchase the supplies for their children? Goldman Sachs employees, who received bonuses, will you please purchase school supplies this weekend, for a local school? All Executives, will you please use a percentage of your bonuses to purchase school supplies, please?

I do not have kids; however, I am going to purchase school supplies for a local school this week.

My message to America including corporate America, bank Executives, Senators, Congressmen/Congresswomen, and/or all Executives, will all of you please purchase school supplies so our recovery can possibly become a reality? We have to unite to protect the integrity of our economy; it is the right thing to do. We have to share. Hoarding during a crisis does not seem to be the answer. It seems as if hoarding could possibly hurt us even more, by potentially impeding a recovery. We need a recovery. We need jobs.

If you received a tax-rebate in the amount for $18/week, for the past six months, will you please use a percentage for school supplies? $36 x 6 months = $216. If you are not comfortable using all of the $218 towards the growth of our economy, then will you consider using $50-$75 for school supplies?

We, consumers and corporate America, have to work collectively to rebuild our economy. Our government failed us these past eight years, but we cannot fail each other. When the fires happened here in San Diego, my friends and I went to the grocery store and bought food and supplies for the victims, at Qualcomm Stadium. America, we have been ravaged by the perfect storm, we cannot quit on one another. Will you please unite and buy school supplies this weekend, if you have the affordability? Will you please unite and buy school supplies and donate them, if you have the affordability? Even if you do not have kids, will you please buy school supplies and donate them, if you have the affordability?

Will you unite with me, and purchase school supplies this weekend?


Stay tuned...I have more to share. Just another day in the mortgage mess!