Tally Ho!
posted by The Cunning Realist at Tuesday, February 24, 2009
Tuesday, February 24, 2009
About Me
I am a New York City resident in my forties, an investment professional, and a conservative. I have an MBA from Columbia University.
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8 Comments:
The only main stream economic advisor I can read without puking.
http://articles.moneycentral.msn.com/Investing/JubaksJournal/5-ways-for-us-chumps-to-fight-back.aspx
A shelter or an investment?
From the point of view of someone who sees a house as a place to live -- and not as an ATM -- that's just nuts. And once you reject the president's logic that spending taxpayer money like this helps us all, the plan starts to seem even more unfair to us chumps.
Jubak's ok. But did he call housing a bubble when it mattered?
"I must have missed the financial market pundits yelling about this and calling for a new Tea Party."
Isn't that the truth! Perhaps it would not be such a bad thing if market pundits would go the way of traditional newspapers.
I have to agree w/a comment from the next entry. Why do so many concentrate on the market, and not the underlying health of businesses, communities, and people. We are focusing on the "market" and not the "business", which allows these executives to throw the money away as in this entry. Let the pundits go to Vegas! On a talk show, the host went to the audience and asked them if they had a question for the President. One woman got up and said, when will the President do something about the DOW. Ay Crumba.
Even the SBA is getting ripped off by crooks (the article ultimately is about how bad arbitration is): Franchise Fraud: Wake Up and Smell the Fine Print
"The couple hadn't fully appreciated that Coffee Beanery, like many franchise operators, makes money selling franchises and gear, not coffee.
According to Texas franchise lawyer Richard Solomon, fraud has become rampant in recent years, as people have sought to use their severance packages to become their own bosses. "Crooks are coming out of the woodwork," he says.
Calling yourself a franchise is license to steal,"
Is any of this bad behavior and anti-regulation good for the economy?
Taxpayers should be mad, but why weren't shareholders mad, EVER. After all, it was, at least previously, the shareholders monies that were being blown at these "retreats".
If each of our "retirements" rests on the quality of stocks and theses businesses (dividends + growth + ethics), we are in a whole lot of trouble. It seems leadership at these businesses use every excuse to use the business monies for their own personal pleasures.
I don't think I'm alone, my parents never owned stocks, and we never talked about investing in stocks. We talked about work, progress, and education though. They had savings, CD, bonds, treasuries, and a traditional pension. I'm not saying this is better or worse, and maybe the country was in such terrible shape (appx 80's) that we had to start speculating/gambling to make a virtual economy. It does seem CEO's and Wall Street treated main street money like heroin, and as addicts they can be trusted as much (I mean no disrespect to addicts).
Take a Deep Breath. Now Stick to Your Plan.
"It's useful to have an appreciation of what the modern markets can throw at you. You'll often read that stocks return about 10% a year on average. Don't focus too much on that figure. With today's stocks paying relatively modest dividends, future returns will probably be a bit lower."
Have you seen the reports on Congress taking trips, and companies pay not only for them but their spouses and kids. Or Congress and their families using taxpayers monies for travel and shopping?
Congress Travels Free on Taxpayers' Dime: U.S. Air Force Flies Bipartisan Congressional Group to Europe to 'Build Relationships'
Isn't this as bad, maybe even worse?
What's that saying, use "other people's money".
I think tea parties are perfect to discuss about finance stuff! I usually plan tea parties at home with my co-workers. I get some brilliant ideas out of our conversations.
To my mind every person should glance at it.
Well, I don't actually consider it may work.
There's no doubt, the author is absolutely fair.
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