I enjoyed watching the Dow surge
yesterday...it was fun.
Our crisis is not over.
The buying frenzy, however,
points out the differences
between the markets of today
and those of years past.
Speaking generally...
In years past there were only
a fraction of the people involved
in investing, because those who
invested were the wealthy with
the ability to begin with large
sums.
The general population may have purchased
a share in this company or that but they
were not exposed to the whole market as
is possible today with the variety of mutual
funds, retirement plans, annuities and other
tools available.
The popularity of these retirement plans and
annuities changes the investment landscape, as
well. The penalties are just too high for the
average person to pull before they are 59 and
a half...so there is a lot of money that will
stay invested that in years past would have
been removed until things got better.
This adds stability.
Aren't you glad?
Man, if this is stability!
The other basic fundamental about our economy
that will help to keep us afloat is that we are
in the process of handing wealth from the baby
boomers to the next generation. This generation
is one that is informed in the ways of investing
and who will be willing to do so.
The baby boomers will be passing unprecedented amounts
to their children and grandchildren over the next
ten to twenty years. Much of this money currently sits
in banks at very low earnings but will come into the market
or be spent in home renovations, new cars or other economically
helpful items.
We will get through this crisis.
It will hurt.
Many will lose their jobs.
Our way of life may change somewhat...
but the entire system is not likely to come
crashing down because there are safeguards,
there is volume,
and we are better educated today.
I have been encouraged as I drive through our little
town to have seen five "sold" signs on homes this week.
People are shopping for homes... and buying.
The industries that are likely to be hit hard
are the auto industry...most of us don't HAVE
to buy that new car and new home sales may stay lower
for a while...while buyers choose to buy existing
homes.
Medical/Pharmaceutical will likely stay strong as the
population ages.
The rich will continue to travel and buy their toys,
the middle class will tighten their belts a bit and
wait on major purchases until they feel "safe".
These are my predictions.
Don't expect that this amazing day on Wall Street marks
the end of the volatility...but I do not see that the
sky is falling...the clouds are low but not falling.
I have my concerns, politically, about this election and
its effects on our economy. There are some very scary
fundamental differences between the candidates that will
effect the long term health of our financials.
The further we head down the track to big government and
socialism the more at risk each individual is.
It is concerning to me to hear how many things Barak Obama
wants to "invest in" for us...while raising taxes on those
who are able to make money, hire workers and fund the economy.
Bad news.
It concerns me every time I hear that our health care will be
mandatory. Many jobs won't be developed...it will simply
be too expensive.
There will always be someone who is in more need that we are and
we will be expected to hand our wealth down...until supposedly we
are all equal.
This country was founded on the principal that it is a free and open
economy and we are invited to work hard and do well for ourselves and
our children.
Somehow we have gotten off that track and into an entitlement mindset.
I hope and pray that we would wake up and come back to the idea that
we work for the things we need,
that we would change the laws that allow our
government to spend our money in unrelated addendum to bills,
that we would have an attitude of caring for those around us that is voluntary...
not mandated,
that we would require our lawmakers to work for us as a whole...
not special interest groups who lobby using our tax dollars,
that there would be an outcry against frivolous lawsuits
that clog up the system and cause businesses and doctors
to change the way they operate in order to save their
own skin.
We have slid down a slippery slope.
Let us pray that we can still climb back up.
If this offends you...I am very sorry.
It is how I feel.
There are very basic truths that are being
ignored by both candidates and therefore by
America at large.
I am not concerned about one big "crash"!
I am concerned about the overall health of
our way of thinking...and doing business.
What do you think?
6 comments:
Barak Obama wants to take us into socialism. Everyone he has hung out with and learned from are socialists. Government mandates on private industries...that is socialism. He says that he will have 95% tax break for the middle class, yet he will let the Bush tax cuts elapse...so taxes will go up and then there may be a tax cut of some sort, but with so many Americans receiving tax RETURNS (which means they don't pay taxes) where will the money come from to fund all of his projects?
It is socialism to say to people "well you make too much money it isn't fair to those who don't make as much money, so you will need to pay more." It is more fair to have a "fair tax" that everyone pays, say 20%. Then I pay 20% of my income, and Bill Gates pays 20% of his. He pays more because he makes more but it is fair because it is the same rate. Why would I want to make more money if I am going to HAVE to give it away to fund things I don't believe in.
And don't get me started on what is likely to happen to our rights to educate our children at home with out more regulation!
b.Hussein Obama is a Marxist. In a recent conversation with a plumber he said that he will take more $ away from those who have more, to give to those who don't have as much, spreading the wealth to make things even. This is socialism. Clearly. Obama is a dangerous individual with a sordid past, aquaintances, beliefs and interests. Our beloved country can NOT afford to have him as President.
I agree with BOTH of you...very scary times indeed. Funny how some voters choose to ignore the very facts that are placed in front of them.
Blessings,
Robin
I agree with this post.
" Our destiny, our future, and our joy are in the Eucharist (good gift: Jesus), using whatever blessing we've received, whatever resources, talents, skills, and passions God has given us, to make the world a better place. Disconnection from the suffering of the world, isolation from the cry of the oppressed, indifference to the poverty around us will always lead to despair."
Rob Bell and Don Golden "Jesus Wants To Save Christians: A Manifesto For The Church In Exile"
I asked my DH if O's plan is going to help my daughter get into college? He said no, she's white. But I thought this was going to help all the kids who can't afford college. He told me not to go there. It won't work. Who are these kids that the government is going to help get into college??? Not mine....
I'm scared period. I really wanted to retire as soon as my number came up. I've lost a little money the past year. I've never taken a hit like this. This is one election that truly scares me. Period.
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