Each year we ponder the plight of George Bailey facing ruination and disgrace at the hands of the befuddled Uncle Billy and sinister Mr. Potter. If you recall, Uncle Billy loses $8,000 intended as a deposit for the Bailey Savings and Loan, which ends up in Potter’s pocket. “It’s A Wonderful Life” was released in 1946, and each year as I watch agonizing with George, and smiling at ZuZu, I wonder how much is $8,000 in today’s value. Granted if someone would hand me 8 grand right now, I would jump up and down like a crazy person, however the lack thereof would not send me suicidally jumping into a freezing, icy filled river either. So I decided to gain some perspective on the matter.
How do you measure the worth of something? You could go to Measuring Worth, a website for just that purpose. According to the site using purchasing power as a barometer of value, in 1946 $8,000 was worth $84, 889.25 in 2007! No wonder George was at his wit’s end!
Which brings me around to this, how much is $50 billion? Well, I hope it is worth some jail time for Bernard Madoff, the master mind behind what surely must be the largest pyramid scheme in history. The magnitude of Madoff’s greed makes Mr. Potter look like a saint in comparison. And no matter how you slice it, I can no more fathom $50 billion than I can 5 billion, give or take a few billion.
So this year, if you still have a couple of bucks left, you might want to stuff them in your mattress, or at least don’t invest with Madoff and friends. Matter of fact, you might might want to skip investing at all, because this next year is gonna be a bumpy ride.
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Where is Clarence when we need him?
A name like Madoff, pronounced Made-off. Now, that inspires confidence. You can’t make it up. However, most of the people who lost money in that sceme never heard his name.
The silver lining in this whole mess is you find out what is really valuable. Of course, it’s easy to say it’s not about the money unless you lose your job and your house.
Does anybody know how many homes in this county have been foreclosed? Jobs lost?
New Foreclosures since Nov. 2008
Fostoria – 23
Tiffin – 14
Green Springs – 3
Republic – 1
http://www.realtytrac.com/states/Ohio/Seneca-County.html
Unemployment 7.2% as of Oct. 2008
http://lmi.state.oh.us/LAUS/Ranking.pdf
We are in dire situation.
I’m reminded of the aphorism…”you can’t cheat an honest man.” People get caught up in these things because they chose to believe that they can get something for nothing…can get more than they deserve.
I have no sympathy for anyone who got squeezed by interest rates on a variable rate mortgage, or invested in a pie-in-the-sky scheme that later turned out to be a house of cards.
They gambled and they lost. Our investments are conservative and our mortgage is fixed rate. We chose not to gamble and as a result did not lose. Ya paze yer money and takes yer choice.
The free enterprise system thrives on the greed of people, buying things they really don’t need and borrowing the money to do it. It’s a good idea to live slightly below your means, unfortunately alot of folks made greedy decisions and are now being forced to live way below their means.
We read in today’s A-T that 5% budget cuts are in order for all County departments, and that construction of a new courthouse will not become reality, at least not in 2009.
With Commissioners such as these, locking horns with the Sacred Six ad infinitum – and grants drying-up like last summer’s leaves on our trees – we are destined to admire our aging pile of rocks on into the next century.
We can’t afford to demolish. We can’t afford new construction. We can only afford to spend our cherished few dollars on legal expenses as we fight each other.
Let the Commissioners show their moxey as they fight silver-haired grannies and principled dreamers on into oblivion. We are increasingly a great source for humor among those who live outside Senec County.
With Commissioners like these, locking horns with THE SACRED SIX, we are destined to sit and admire our crumbling pile of rocks on into the next century. Increasingly scarce dollars will continue to be spent on research, legal fees, and endless arguments while we continue to be a great source for humor among those who live outside Seneca County.
Anonymous and Elvis: The Commissioners and Preservationist are not fighting, they are engaged in discussions about how to make the Conaway plan work.
Scout you should do a thread on this counties budget and let set people with common sense post some opinions.
Also, may I add that the commissioners are not spending any money while investigating the Conaway
plan.
John Doe – You are correct, the entire cost is on the shoulders of the Seneca County Courthouse Development Group.
In addition to footing costs for their work, the Courthouse Development Group acting in good faith, placed almost $40,000 in an escrow account to reimburse the county for their costs encountered thus far in pursuing demolition of the 1884 CH. If the 1884 building is restored to use, those funds will go back to the county.
Yesterday’s meeting with Mr. Conaway revealed the fiscal advantages to the county in restoring the building. In view of Mr. Sauber’s statement that a new courthouse cannot be built in 2009 under the current budget, restoration and use of the 1884 CH seems more and more prudent…and less costly to taxpayers.
A group of local citizens have placed $80.000 in escrow not $40.000 Asa and that was not enough to satisfy nut head and neaver sober sauber.
Lets get real. they are fighting for a new building that they can’t even afford? Never without the help of the Port Athority. Which is whose idea? Its like a bad cartoon.
Since when does anyone expect the commissioners to make SENSE?
Capt. Moralless and Never sober Sauber want to build a new courthouse so thay can have a placard on it with there names on it built by two ignoramus Commissioners
How does Sauber drive his sign wagon after a few?
The “spirits” of the season can sneak up upon us all….ice and snow …take it slow. Drinking and driving are never a good mix.
Have a good evening from…..Zhivagoland in SC !