Everybody's talking. The pundits, and talking heads have all suddenly become "financial advisors." They are not certified..have not taken the series 7 exam and are not approved by the Securities and Exchange Commission. Sure they have guests who I hope are, but no one can give you financial advice in a vacumn!! They don't know your plans, needs and assets.
The only sound advice is the one I took myself. Get some money, do some research and start buying low. I remember Whitewater, and I remember Hillary Clinton made 100k on a 1k investment. Will I be so lucky? don't know if I don't try. Our home is secured by a Wells Fargo reverse mortgage. What I need to do is to stop buying so much!! The experts say, you must keep money circulating to avoid the market crashing! The market has already crashed.
When people start talking about the Great Depression..it signals fear. The fact is that in 1933 President Roosevelt closed the nation's 19,000 banks for three days.
There was no FDIC and that's why depositors all-- half million-- lost their funds.
When you link that to the repeal of Prohibition..now you had a new economy..Liquor.
I am not going to pretend that I know all the nuts and bolts, but I do know that this was expected. It is factored into projections, and government feasibility studies.
I also know that new business will rise. That real estate will go up, that Capitalism, by its very nature will develop new paradigms in the market place. What I am curious to see is what is going to happen to AIG? The Republicans have squandered money by creating and applying accounting methods which they were warned would lead to disaster.
They have so many members in that club, that it became impossible for the fox to guard the hen house. On the other hand the Democrats are usually good at fixing the economy.
Bill Clinton left office with a balanced national budget. He received no accolades, no hurrahs. Reagan destroyed life saving programs, cut the pork in spending programs and made Republicans rich at the expense of the poor. I remember well, because Howard U.'s on hand journalism program, run by WHUA was cut and I limped home,very disappointed. That was 1981.
We now have first hand accounts of the kind of money that the U.S. government has. There is enough money to help those who do not have boots. Since we all do not have the same equal access to compete in a free market, then yes the government owes us that until institutionalized racism is eradicated.
We pay taxes, and our tax dollars should be distributed in away that benefits us also. Sometimes I wonder about this new Republican mentality. They really believe that false stereotype that we want every single thing for free. No we don't ..leave the door open. We can get it ourselves.
Posted By: Marta Fernandez
Wednesday, October 8th 2008 at 4:10PM
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