Ever watch that old television show Family Ties? I haven’t watched it in years but I’ve been thinking about it lately, reflecting on how much the Ryan’s have in common with the Keaton’s. Tom and I are two old hippies who dream of joining the Peace Corp when we retire, while our son Tyler is always plotting various ways to get rich on eBay. In other words – Tom and Mika not so good at math – Tyler very good at math.
I’m not sure who thought of it first, but around a year ago either Tom or I had the brilliant idea that maybe it was time to start investing in the stock market. If you've been following the news I don't have to explain why this has turned into one of those “other than that Jackie, how was Dallas” moments. The reality is, in the big scheme of things our losses are pretty small. You’ll be happy to know that the pugs aren’t going to have to go without kibble or chew toys anytime in the near future.
But being in NY last week when the US government decided to step in and bail out several of the big financial players was troubling. Not to sound like a drama queen, but it felt apocalyptic. I’d really like to believe the plan is going to work, but in my heart of hearts I can’t help but feel that this is just the tip of the iceberg, a harbinger of more troubling times to come.
I’m not sure who thought of it first, but around a year ago either Tom or I had the brilliant idea that maybe it was time to start investing in the stock market. If you've been following the news I don't have to explain why this has turned into one of those “other than that Jackie, how was Dallas” moments. The reality is, in the big scheme of things our losses are pretty small. You’ll be happy to know that the pugs aren’t going to have to go without kibble or chew toys anytime in the near future.
But being in NY last week when the US government decided to step in and bail out several of the big financial players was troubling. Not to sound like a drama queen, but it felt apocalyptic. I’d really like to believe the plan is going to work, but in my heart of hearts I can’t help but feel that this is just the tip of the iceberg, a harbinger of more troubling times to come.
4 comments:
Yes, you are right. Troubling times are ahead. Americans might have to learn the hard way that just because you "want" something, doesn't mean you always get it. Living way above your means and keeping up with the Joneses eventually implodes. That's the first issue, the second issue is getting the Government involved in this process anyway. Research has taken me all the way back to the Carter and Clinton Administrations. Although it sounds "nice and fair" to make banks give loans to any Tom-Dick or Harry, this is exactly the type of Government "regulation" that I'm against. Now, we've got a fine mess on our hands. I think I'll just move to Australia. (That's a book I read to my son, Alex, called "Alexander's Terrible, Horrible, No Good, Very Bad Day". The little boy decides because his day is going so bad, he'll just move to Australia.
Gud D'ay...
It seems that governments who spend, spend, spend on their military endeavours however misguided, and corporations built on greed, greed, greed with little concern for how much value they're adding to the world, may have some navel gazing to do. (Not that they will).
A system that is completely geared to the almighty dollar and for the benefit of the wealthy and power brokers only is eventually going to fail. Big time.
Could be called karma.
I agree with Maggie and Me on this one ( surprise, surprise!)....I see the government bailing out rich rich rich CEO's at the cost of the middle income tax payer. Interesting use of terminology too...."bailout"....often used to describe the money you pay to get someone out of jail!!! Again, it seems the super rich are immune and don't have to pay for their stupidity and greed but the government is sure looking out for and bailing out them!!!Those really suffering, the poor and middle income people duped by the greedy are in the end paying the dues. Eventually the bail is set too high and there's no gettin' out of jail.
Yes, the CEO's of these corporations were greedy, no doubt about it. However, if the Government hadn't "interfered" in the first place, putting more and more demands on them to give loans out to ANYONE regardless of whether they had the income to pay for it, then perhaps this wouldn't have happened. You see, capatalism works best b/c if a company doesn't make money, then they don't stay in business...period. Guaranteeing (which the Government did) loans that had absolutely no value played a HUGE role in this mess. Sadly, the CEO's knew these loans were bogus, but with the Government backing them, they took every opportunity to line their pockets. Had these loans not been backed by the Government, there wouldn't have been any money to steal.
I'm not sure you realize the culture in which my children are being exposed too. Americans are addicted to "having it all" when that isn't reality. My husband was the youngest of five and was raised in a lower income (blue collar) family. Money was tight. He went on to put himself through college, earning both his Bachelors and Masters degree in Accounting/Finance and then getting his CPA license...all working FULL time. No one handed him anything on a silver platter. He knew if he worked hard, he would get ahead. Now, he has a career that supports his family very nicely but he also works very hard to make sure we live within our means. My point is, HE is the American dream to me! He came from a lower-economic family but proved that he could rise above those circumstances and change his future.
Am I saying that no one deserves help from the Government? No. What I'm saying is that too much Government involvement never helps anyone; it cripples them.
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