Letter to the Editor

Here is my letter to the Editor that I sent in to the Gazette. I have yet to hear if they will publish it or not, but here are my thoughts on the Economy today:


Dear Community,

This economy is ours to change. Yes, yours and mine to change. It is our economy. And it is the greatest economy in the world and we the consumer drive it's growth. Do not be fooled by the evening news, newspapers, and news stories on the front page of yahoo.com that try to trick you into believing the economy is sinking, that the banking system is drying up or that owning your own home will never happen again thanks to some rotten apples in the mortgage industry. None of this is true. We are the biggest, the strongest, the most resilient economy in the world. And we will boom again, this is one promise I can assure you will come true. Remember the Savings and Loan Crisis of the 80's and 90's which ended in the failure of 746 savings and loan associations in the US? Currently there are only 90 banks on the Fed's current watch list of banks that might fail in the next 12 to 18 months, far off from the almost 750 savings and loan associations of the 80's and 90's. It is inevitable that our economy will take off, that bankers will loosen their tight grip on money and lend more freely and that you the consumer will continue purchase and grow this economy. None of these things are in question.

The only question is; When will you allow this to happen? That's right it is your choice. You must chose to turn off the negative thoughts about this economy. You must look for that new job, that promotion. Have you looked at monster.com lately? There are currently over 1,000 jobs posted on monster.com within 20 miles distance of Colorado Springs and another 4,800 jobs available just a $9 FREX ride to Denver! There are plenty of companies hiring and unfortunately plenty of jobs that go unfilled each day.

We all understand that the number of foreclosures in Colorado has affected our economy. Our rental market vacancy rate is decreasing, meaning more and more people are gobbling up the available rental units. According to the University of Denver rental vacancy report Colorado Springs is currently at 9% vacancy rate for the first quarter of 2008. Down from a high of 12.6% just two years ago, and this with basically the same total amount of rental units available. And why do I bring this up? Because home is where the heart is. And if you think that you lost your home to foreclosure, look around you. Look hard. Do you see it? It's right there. It is your friends and your family. It is their love for you that makes a home. They are proud to call you mom, dad, sister, brother, aunt, uncle, grandfather, grandmother or just friend. They do not care that your address has changed. They do not care if you own or rent your home. They do not even care if you need a couch to crash on for a while. You are family, you are a friend. You are loved, loved in your heart; therefor you ARE home.

So don't let someone else tell you how you should feel. You are Colorado Springs, you are America. You believe in yourself and your hometown. You believe the economy is how it really is. Perception is reality. How do you perceive it to be right now? I know what I perceive. I perceive that we live in the greatest country in the world. I perceive that we still are the strongest economy in the world. That is my reality, join me in this thinking will you friend?

Michael Baker
719-375-1471
1340 Eastmeadow Ct
Colorado Springs, CO 80906