Posted on 06/08/2009 6:52:11 AM PDT by PeterL
Yup
Its incorrect to say noone saw it coming, some did and prepared for it. Most financial advisors just suck badly - being one have been very easy these past 20 years because in general stock went up. Its not til we saw a big down turn do we seperate the geniuses from the wave surfers who collect big salary for doing basically nothing
Why are you “a supporter of this president”?
My wife got her statement from her savings account Friday she is being paid .82% interest on her money.
“There is probably much blame to go around. For years, while I was still a part of corporate America I was incensed at the salaries, bonuses, perks and power being given to our CEO and to all CEOs.”
CEOs were paid well for raising stock prices and profits. The left has been successful at demonizing business leaders.
The collapse of the financial sector due to sub prime loans is the root cause. The story is getting out. Needs to be repeated over and over.
To quote Jimmy Carter (from his apparently one lucid moment as President): “Life isn’t fair.”
How many people in countries like Belgium, Greece, Holland, etc.. lost everything they had during WWII. Simply because another country decided (Germany) decided to invade their country and grind it under its heel.
Keep some perspective.
You’re far better off. You will likely also live longer. You have to look at the bright side.
“...I played by the rules...”
I myself realized there are no rules, when I saw our CEO have alcohol problems, and his marriage end - and I thought, “He’s a nice guy, but I am counting on him to take care of me, when he can’t even take care of himself?”
I realized then also that Government promises are the same thing, even worse.
Jobs are going to be at a premium. Hell, they already are. And that aint gonna change any time soon. Illegals will take American jobs. The heretofore retired folks will go back into the job market taking jobs away from younger people. Temporary summer jobs are gonna dry up faster than a pool of water in a heat wave. That is what is going on and will continue to happen in this disastrous economy which Obummer and his administration has made even worse by his financial and economic policies.
CEOs were paid well because their buddies were on the corporate boards. What you have now is a corporate oligarchy that basically played right into the bubble - they made their millions, and now taxpayers are left holding the tab.
People saw this coming.
You are just one of those who didn’t think it could happen to THEM.
When you say you are a supporter of this President, what do you mean?
His agenda includes taking advantage of people in your situation, who are running scared. Hope you don’t end up in that category, because fear is a great motivator for people to start thinking along the lines of what is good for the collective, blahblah.
I think it is time to end this era of greed and selfishness and over consumption. It is time to focus on needs and not wants, and it certainly wouldn’t hurt to think about how our actions affect the other guy
This is straight out of Atlas Shrugged..Holy Crap this is scary..
I'm guessing it would look like a socialist nightmare in which the smartest people had no interest in running major corporations because the people at the top were no longer appropriately compensated.
Well, there is not much to say about that dichotomy. Enjoy the Change.
We all suspected the mortgage situation was a time bomb. We all suspected there was no real value behind the Bubble. We all suspected the derivatives were fake.
So, everyone sat there chewing their cuds.
Hadn't we seen posts here for YEARS questioning this?
Exactly.
One thing we conservatives must realize is big corporations and big business are just as bad as big government. They only exist after a certain point to protect itself and get larger at the cost of ordinary Americans
We must become the party of small business, where there are higher wages and jobs created
How is that working out for you?
Why? Has he no Social Security? Is his home not paid for? Did he lose ALL his investments or just about half?
I feel for folks. I really do. I am retired. I live off the income of my rental properties, which at this point in my life are owned outright, and my Social Security check is currently gravy. I'm not rich nor am I fully retired, because I work at maintaining my properties, but that's what keeps the income coming in.
I'm not trying to be flip, but wouldn't a minimum wage job as a Walmart greeter or somesuch cover the shortfall in investment losses if you had really played by the rules? With no teenage boys to feed or mortgage or tuitions to pay or braces to buy, my wife and I are more comfortable now than we were most of our marriage.
To be fair, many seniors are feeling the pinch from their investment losses, but most I know are making do by cutting back on their day trips and gifts to the grandchildren, and a few are supplementing with part time low paying employment. But then their homes are paid for.
The term Financial Planner is an oxymoron. There is no planning involved, as “they” get paid when customers enter and exit the market. Trading volume is how this industry survives.
Now I am not saying absolutes, like “all” planners are . . . but what this industry sells are “things” that fit a customer’s “wants” => steady retirement, big house, boats, etc. This industry uses simplified tooling to “project” what earnings will be based on very simple assumptions.
If they were true planners, they’d be higher degrees in Economics and Mathematics, instead of being certified salespeople, state-by-state. Since markets strive for efficiency, once any given model becomes known and fully utilized, it losses it’s ability to exploit the given inefficiency.
The information age guarantees zero certainty over time, as information becomes more accessible by the masses. Basically, market inefficiencies get erased far faster than they in days past because more people learn of them and can act with greater rapidity than ever before.
Same sob story we heard during the last financial crisis: I lost everything!
When are people going to get smart? There is no “everything” in an unstable world. There are necessities. If you *really* want to prepare for the future, take a portion of your retirement fund and invest in:
Land away from population centers
Guns and ammo
Food
A reasonable amount of silver or gold
Then, try to live a normal life. But - the way I see it - this house of cards will collapse within two years. Only those people who prepared will outlast the chaos that will follow.
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