bajs3217 at sbcglobal dot net
"What seems to spook people now is the possibility that
everybody in charge of everything is a fraud or a crook."
James Howard Kunstler's post for this week is entitled:
What spooks me is that people seem to think those in authority can "solve the problem" while it seems to me that people's greed is the real problem, and there's too little sign that any leader has the courage to argue that (probably because they have so much more than the people they are leading).
True. True.Still, controlled greed can be good.I learned the hard way thatI could have attained wealthwhile remaining within my meager means,but I fell into the gotta-have-it-now trapduring the more than ten yearsI was in the market.I've written a booklet about itI may someday update and placeonline.That some managers of billions of dollarsfell into theget-it-any-way-you-can trapis the saddest result.That result, however, is likely to move people back towardssaving and living simply.My main reason for seeking wealthwas my desire to pass it on to others, but to others I chose topass it on to. I had no intentionof living the so-called high life.Doing that would have put me wayout of my comfort zone.As to those who govern us, ourrepublic's great weakness is thatwithout money it is next to impossibleto become elected to the premier state and national offices.-Thanks for visiting, and commenting.I have been visiting your site,but haven't been able to come up with something to say.So, season's best to you and yours.
I have limited funds invested in mutual funds, more as an inflation hedge than anything, but they, too, have taken some hard hits lately. I guess I can hope that our current "non-Depression" will continue to hold inflation in check.
Now you're leading me into stickyterritory. A lot has changed in the last ten years. Those who think we are heading into the worst depression this nation has ever seen say that once this credit debacle deflationary period passes/ hyperinflation will set in. Yet, so much depends upon what the federal government does in the meantime. If you have at least $5000, there are excellent ETFs (exchange traded funds) on the AMEX Exchange. I don't know how many there are, but they cover a wide range of needs. Some analysts say these funds are better than mutual funds. Bear markets are trickier than Bull markets. Right now it's moving sideways, but it could test its low in 2009, and it could drop lower. [ The mutual funds you are in may be fine. ] I've read that the GLD ETF is a good one to have some money in, especially if that commodity seriously reasserts its climb. However, it appears that the reason Obama tapped Paul Volcker is the worry about inflation. Volcker successfully fought it under Reagan by raising interest rates, but that action made it difficult to borrow money and thus hurt many small businesses both directly and indirectly. Had I been in the position to, I could have made money in November and this month on a stock which was trading between $2 and $3 dollars and has recently been above $3.50, but in general it's too hard to pick a stock in this market that's going to keep edging higher. One hedge fund manager made lots of money by going short Fannie Mae and Freddie Mac well before they collapsed.Babble, babble.
Post a Comment