This above all; to thine own self be true.

- William Shakespeare

How?

In case you are wondering how your neighbors are managing to keep up their lifestyles in this economy, consider the following:

> Many homeowners are NOT paying their mortgage so can sustain a standard of living above what they should be able to afford. If you do not know someone doing this, you are, or you do not know enough people, or someone is lying, or you are living in a nice little bubble of happy unreality (Washington DC).
> Many people have borrowed from their 401(k) under the hardship provision. This borrowing is at a 10 year high at Fidelity Investments, and, unfortunately, many of these people will not recover because of the state and direction of the economy. [Read: 401(k) hardship withdrawals, loans up]

When are things really going to get better? When we realize freedom is more valuable than government control and citizen management, and that the engine that runs our economy is opportunity for the individual.

posted at 17:07:48 on 08/20/10 by clearpolitics - Category: Economics - [Permalink]

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