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This article is part of Dallas' Year In Review 2008
Dallas Personal Finance Examiner

2008 - How will it be remembered?

January 1, 3:05 PMDallas Personal Finance ExaminerTom Mackinnon
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The old year is over. A new year has begun.

What to say about the year past? As in any year in history, many things of consequence happened in 2008. How will the year be remembered? What were the seminal events that made this year in particular memorable above others? Was it a good year or bad?
Is 2008 to be remembered as the year that capitalism in the US died and socialism took over?  Or, maybe it will be known as the start of another worldwide Great Depression?
Will 2008 be remembered as the year of $4.00 per gallon gas? Or of the roller coaster of prices on everything, as well as the crazed amusement park that was (is!) Wall Street?
Is 2008 the year that history will note that the mortgage crisis begat the banking crisis, that begat the economic crisis, that begat the goverment bailouts, that begat . . .? Only time will tell what was begat by the previous begatting.
Is 2008 to be known as the year that your business failed and your 401k disappeared along with your job?
Is the most important fact to be remembered about 2008 that was the end of the Bush years (many liberals cheer at this) and the start of the Obama years (many conservatives boo at this)?
Anyone can make an argument that any of these things was the defining factor that made 2008 the year it was. Most will probably say that 2008 was a horrible year, and good riddance to it.
But there was more to 2008 that just bad stuff happening. Many good things did as well. For each dark cloud of bad stuff that happened in 2008, there is a silver lining.
The 3war in Iraq continued. But that war is all but won – thanks to our military and political leadership. Say what you want about Presdient Bush, but he showed the fortitude to stay the course and not cut and run when things were going badly, and showed the insight to change strategy to one that has proved successful.
With the roller coaster in prices, we are now seeing $1.30 per gallon gas. That is a good thing in just about everybody’s book.
With all the troubles for the car companies, we are getting great deals (pricing and financing) on new cars. That ain’t bad.
With the continued drop in home values, prices are great for home buyers.
With the government’s attempts to drown our economic problems in money, mortgage interest rates are at their lowest in history, and are likely to stay that way for a while.
So, there were positive things to take from the year just past. For all the doom and gloom, and “the sky is falling!” news stories dominating the headlines, are things really as horrible as ‘they’ say?
I prefer to take an optimistic view of the recent past and the future. How about you? Comment on this article, and give me some positive news. Take a positive outlook into work on Monday.
2008 was a tumultuous year, but things are looking up.
For help with your mortgage - refinance or purchase, email me or visit my web site.

For provocative views on Education, read the Dallas Math Education Examiner.

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