I am a boomer, and have invested in stocks and IRAs and expected that my wife would have a better retirement because we planned for it (kind of). But someone somewhere wants FEAR to run off the fools so they can feast on the hard work of others. They are doing a fine job, from Y2K to WMD in Iraq, to Hope (which seems to rest on one smooth talking man) the Media pumps the current Knowledge (global warming anyone?) at the folks most hardwired to the message. The Sky is Falling, and sure enough, it is. Anyone old enough to remember what happened when Johnny Carson said, during one Oil Crisis, that there was a TOILET Paper shortage? For the next week there was, the shelves were emptied. The power of the press in panic.
One needs vision, faith, trust and no time to fool around following - get out and lead. For sure the government is lost and behind, but they aren't doing it for Earl, they don't even know my name unless it is tax time.
I am in fix me mode, found all my dollars and today being a pay day I have control of them, I know I have three debts to my Credit Union, what the payments are (and the interest rate is fixed), and I am paying off the two credit cards. Come to think about it Citi Corp canceled one of my unused credit cards, which is fine with me I don't think it is a good time for more debt. I will leave the excess money for y'all to fight over. I am not selling anything that I have invested, today being Friday I will plug in the numbers at the closing bell and find how badly beaten my Mutual Funds and stocks have been had - but they were for my wife's maintenance not really mine. Truthfully, there are some really great companies out there that are sliding down to below their base value, and the wolves are waiting to bite.
Remember it is a MARKET and the last sale price was an agreement between the buyer and the seller. So that couple of trillion dollars of value lost in the market is a measure of how much the last High seller took away from their sale and the current LOW seller took away from their sale. Both of them walked away with money going out of the market (well, yes they did) and the buyer is holding paper to believe in for the future. The government is going to love to compute the taxes on all these sales, and some investors are going to love losers to offset the winnings (I will never understand that, but I don't have that kind of piles of profits to plunder - tax me!)
Yep, time for breakfast gruel and to remember that the Tango is beautiful, but you have to get on the floor with music to make the magic happen, wall flowers and frightened fools just watch in wonder - how did he get such a hot babe? Get out and dance - the economy is only measured by the government; the workers, shoppers, business men and crafters are the economy and I am sure Frank James is looking at his portion and the next year differently than Uncle Sam - unless you understand that Hope comes from a great heart and a love of doing the best one can.
3 comments:
Yep, sooner or later, it will be time to buy into the stock market.
Our family has always invested in farmground, tillable land to be specific, the kind necessary to grow crops. I'm sure tomorrow when I wake up it will be in the same condition it was when I went to bed. As to its value? That only matters if you plan on selling.
How do you sell your Heritage?
My son will have to worry how to answer that question because I'm not going to address it.
All The Best,
Frank W. James
price varies based on ?? but core value is determined by true supply & demand; the contrarians know this...be a contrarian!
unfortunately, tampering by the gov and the immoral skew and bastardize these standards to a varying degree...look beyond them and decide based on merit, and you won't go wrong.
jtc
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