No answers, just random thoughts on the mess...- Financial planners, traders, and so on, all say when investing, don’t look at your stocks daily—focus long-term. So why is it when it comes to this current panic, they watch that shit down to the minute and get people all worked up?
- Remember two weeks ago when every politician including the two candidates all said we needed to have the bailout approved tomorrow—or else? Well, they got the money, so where’s the confidence in the market they said would return?
- Instead of taxpayers bailing companies out, why not have an insurance program similar to the government-created FDIC that companies themselves pay premiums on. Should they go under, the fund bails them out, not us.
- For how long now have people warned that social security’s about to run out of money. Alarm bells are going off too, yet nobody’s done anything. When that issue comes to a head, both sides will blame the other over who supported what and when did they support it—just like they’re doing now. (Tip: Take the 150 from the bailout and throw it into a Roth, no?) It’s as if we need some dumbass action movie cliché of someone running down the hall, bursting into a room full of people and yelling “We’ve got 18 days before the comet hits Earth!” before we do anything.
- Nobody’s mentioned the role of credit cards in all this. More, the buy now convienence they offer. It’s not just people losing homes due to foreclosure at work here. They’ve likely also declared bankruptcy, (either because of a medical reason or having too much debt in general). Or 20-somethings who maxed out their cards before they even had a chance to buy that first house and had to declare Chapter 7?
Ted Koppel on Meet The Press this week was the first person in the media I’ve seen mention plastic as a culprit. How long now before credit card companies look for their bailout, all because so many people filed and gypped them out of that 32% vig?
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