We as a nation have been impacted by all of this and we need to treat this as life's lessons never to be forgotten.
I hope that our nation learn the habit of saving, treat their houses like homes and not lottery tickets to encash when there's a jackpot in the offing.
I also hope that we never trust realtors or commission agents.
I hope they use common sense instead of listening to opinions, views and advice from experts, I hope we demand an investigation of the corruption in this financial crisis.
As a nation we need to cut up our credit cards, stop conspicuous consumption and appreciate so many other good things in life.
There is a need to realize the importance of basic financial education and read a book like Rich Dad, Poor Dad.
Not a tall order but for so many Americans conditioned into this kind of living, using credit cards without thinking, it won't be easy.
But if one good thing comes out of this crash it will hopefully be a generation who will save, who will no longer over-consume, who will educate themselves in regards to personal financial matters, and who will no longer see debt as a lifestyle.
To create wealth we have to delayed self gratification, use les and less our credit cards, save a good percentage of our income, lived in a house that we can afford for our income, used the transportation system to travel to work, and read a great deal on smart investing.
Invest your money wisely, never be tempted to buy penny stocks and wait for them to shoot up and make an instant millionaire.
We have to create the foundation for our future generations.