The End of the American Dream?

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The current financial crisis has sent a signal to all of us and it’s loud and clear. It is signaling the end of the American Dream. That sounds pretty radical doesn’t it? But think about it for a minute:

• Most of us have seen our 401K plans drop by anywhere from 24%-33%
• The prices of our homes have dropped by about the same amount
• Many facing retirement will have to work longer because they can’t afford to retire when they planned. For some that may be until they drop dead
• For those already on retirement, they have seen their hard earned savings dwidle drastically. Many are contemplating returning to work because they aren’t sure they can afford not to. But how many will hire a senior citizen?
• Foreclosures are at an all time high with many more to come
• Our banks have been seized and the government just took $810 billion dollars out of our pockets as it socializes the financial sector.
• The future of Social Security and Medicaire is in doubt
• Small business are failing, large ones are teetering on the edge

If this all sounds like something out of a horror movie, it’s not.

It’s the new reality.

It may well be the end of the American Dream as we once knew it.