Reply #11: Back in the '50s and 60's, the economy was more local. You wanted to buy a house, you went to [View All]

[sinkingfeeling]

the locally owned 'building and loan association'. You wanted a loan to plant crops, you went to the local bank. You shopped for groceries in locally owned stores. Almost every city or county owned their own electric company, hospital, and gas company. It cost me $15 a visit to my doctor's office, who took on everything (not sent to 3 or 4 specialist). You knew who you were dealing with.

From the 1970's until the present, it's all about business consolidation and mergers. We will soon be a country with only one or two mega corporations running every sector. There will only be Wal-Marts and Sam Clubs for 'cheap' items and groceries. (Remember all those wonderful 'dime stores'?) One giant telephone company. One or two mega-insurance companies. Citibank will handle all loans.

Choices are going away and fast. Look at the airlines in the USA. True competition is dying out. How people use their money has changed. Don't just buy a home, speculate to make money from that house! Invest in stocks, not in shares of a co-op or building association! And the advertising 24/7 of all things (lawyers, drugs, and gadgets) has made people think they need all that stuff NOW. Don't have any money, put it on the credit card. Maxed out, take it as equity in your family's home.