Archive for September, 2008

Young people and retirement

September 18, 2008

Here is the secrets to retirement your broker or banker won’t tell you.

1. Your broker job is to make money from commission, not to get you safely to retirement

2. Your banker wants to make money on the spread of interest rates, not promote your financial success.

3. You, alone are responsible for your money and no FDIC will protect you

4. FDIC does not protect you because it is backed by (not the government) but the fricking tax payers.  Anything this backed on the backs of hard working tax paying Americans comes at a cost (less health insurance, less credit liquidity, less money to buy goods and services, less education for our children, less healthcare for the mentally ill and elderly, a budget deficit, more taxes and fees and weaker dollar (Yep higher oil and stagflation) gotta love it.  Not to mention what is your rate of return on a FDIC product.  A whopping 3% on a CD backed by your and your children tax dollars.

5.  Your only hope for retirement is to be part of the upper middle class.  The group of people who have multiple investments (500K each spouse) plus in pensions or 401K, some form of passive income from commercial or residential property, on going business residuals (like insurance agents, Monavie, and other similar types of businesses) and a mortgage that is 80-90% paid off, and/or work way past 65+ like Ed McMahon.  People who depend on insurance products (like AIG type annuities), or stock market, or just real estate or lousy FDIC products for bailing them out on retirement need to get in the long line of people who count on government earmarks, the politicians, the bureacrats, the military, the lobbyists, the unions, the corporate bigs, the illegal immigrant population, the social security dependent baby boomers, the sick, the young and then guess what finally you.

Advertisements

The Great Main Street Hope

September 18, 2008

The housing crisis will come to an end when savy investors realize housing prices will not longer continue to fall.  When employment and wages match up with the decline in housing prices, we will have a bounce, a slow and painful bounce, but a bounce.  The only hope for that day is the job creation and profitablity of main street businesses.  Small business owners are the greatest source of new jobs in any economy, good or bad, and good luck thinking AIG or HP or GM will bring jobs back to middle America.  Hopefully, Obama and his Chicago political machine and tax agencies can keep their greedy paws away from sole- propietors and other small businesses.

Wall Street Condescending

September 18, 2008

Wall Street vs Main Street

 

The fall of the stock market places a lot of futures in the hands of the uncertain.  One thing is clear, is that we live in turbulent times and nothing is for certain.  Institutions of trust and respect, banks and governments do not have the interest of shareholders or the governed at stake.  Who is to blame, and how do we fix this crisis?

 

                We are to blame, we believe the rhetoric and lies from IB to stockbrokers to so called media journalists, when the critical mass of greed, (stock market crash of 1920, 1984, dot com bust, our housing crisis) gets overheated the only end in sight is a prolong recession and depression.  We will not be able to generate a competitive workforce when you buy more than we export.  Our legacy of spending will eventually convert us to the Spainairds  and Romans of old another decrepit empire.

 

                What is our great legacy, the legacy of land stolen from Indians, and Mexicans, the legacy of a create open society, a land of immigrants and opportunity to a country at war with itself who convenietly outsources its jobs for a tidy profit for the fortunate few. 

                One thing is clear, it is honor, integrity and a rigid moral compass that will get us through this mess.  When men and women of high moral fiber live and make decisions to the benefit of the hard working people of our great society we will resurge.  When people make money the old fashion way, with local service and goods, hard work, a fair contract with their employer and community, and government takes a lot less, and people save and share with the unfortunate we will rebound from this era of greed, pornography and disinformation. 

                Government will not protect the people.  It is the job of the people to protect the people.