The fundamentals are changing

By now you are probably sick of hearing about the economy. Everyday brings a new bundle of headlines about a new economic crisis somewhere in the western world including the united states.

Even the political analysts during their post-game election coverage point to the exact day John McCain began slipping in the polls, September 15, 2008. On that day investment bank Lehman Brothers collapsed and McCain told a crowd in Florida these fateful words "The fundamentals of our economy are strong." Obama pounced and the rest is history.

Oh Grampy, The fundamentals are not strong, they are changing. McCain isn't the only person not to recognize this, it seems most people over 40 are struggling with how the world is changing.

Everything in our economy is becoming de-centralized.

The music industry has been fighting it for a long time starting with Napster and continues to struggle with other file sharing software invented since.

American manufacturing is undergoing the same upheaval thanks to the Wal-Marts and Targets of this world. Once good paying jobs all across the U.S. have been shipped overseas for higher profits and lower cost goods.

Now, factory workers overseas are struggling because U.S. based stores aren't putting in the orders they once were. Many of these people show up for work only to find a padlock on the gate and no explanation from management what happened to their jobs.

The once strong American automobile industry is in turmoil. The big three are hemorrhaging money and asking for government assistance. Tens of thousands of jobs are at stake from the board room to the dealership. Stock in General Motors, a bellwether of American industry, has lost 90% of its value in the last year. G.M. along with Ford and Chrysler are in Washington, hat in hand, looking for a bailout.

We can't forget about the big bank bailout and its ever changing priorities.

What about homeowners who are currently underwater thanks to the rising tide of debt and falling home values. There are literally whole cities in California and Nevada where just about every homeowner owes more on their homes than they are worth.

The change is here, and its not all about Obama. Although, he will have a big say in where we go from here. Where it ends nobody knows.

-A-