"Buy more Jackets!"
Posted on 02/11/2009 1:32:44 PM PST by presidio9
"'Tell me what I need to know,' people often say to me. 'Here is what you need to know,' I answer." -- Suze Orman, "The Road to Wealth"
How a bottle-blond former waitress and self-described "55-year-old virgin" with a taste for the good life became the financial messiah for millions of Americans might be a fun Lifetime original movie. Why the masses continue to invest their faith in Suze Orman in the wake of a financial meltdown she never saw coming is a more timely question.
The answer is complicated.
If you've managed to avoid Orman over the past decade, you don't watch "Oprah," CNBC or PBS, and you've probably never entered an airport bookstore, where her toothy visage graces the covers of numerous best-sellers, the latest of which, "Suze Orman's 2009 Action Plan," has more than 1 million copies in print and has, according to her publisher, been downloaded 2.2 million times from the author's Web site.
Talk back: Do you listen to Suze Orman? There, you might also be persuaded to open an Orman-sponsored TD Ameritrade brokerage account or buy one of the products that she also sells on QVC, including:
(Excerpt) Read more at articles.moneycentral.msn.com ...
Down fall.....who insures them??????
Who was that financial advisor back around the early 80s who used to do public appearances where he arrived in a coffin?
Joe Somebody? His newsletter said “Sell” one day and it tanked the market.
kramers usless also
I’ve watched her show from time to time and imo, her advice is usually basic and common sense advice. For instance, she had someone ask her whether they should refinance their house and use the money to pay off their credit card debt, her advice was not to do it, because people who tend to do that just go back and charge up their credit cards again. I know this to be true with people I know who have refinanced and used their money to pay off credit cards. Her advice was that you have to change the bad behaviour.
Why the masses continue to invest their faith in Suze Orman in the wake of a financial meltdown she never saw coming is a more timely question.
Like she was the only one??????????????????????????????
Better than we deserve!
But I agree, he’s better. He gives a plan to get out of debt and get on track - Suze’s advice is more piecemeal and sometimes scattered. FPU should be mandatory in high school, for a marriage license, and maybe for adulthood.
We’re getting amazing feedback with the FPU course my husband and I are teaching.
I agree with you.
I noticed that the author assumes that someone who goes through a crisis, such as a divorce, will not have to make tough decisions. Or that there is no help for it. Wow.
There are a lot of callers who get stuck in a situation because it’s tough to know where to draw the line and say, sorry, I can’t pay for that or I can’t have that.
Suze is helpful when she is trying to get the caller to understand how he or she may be committing him/herself to a greater obligation than he or she can handle. She gives examples as to how to confront a bad situation and make the tough choices now, so that down the road, there is light at the end of the tunnel.
Peter Schiff was the most accurate forecaster.
"Buy more Jackets!"
Orman, just like Cramer, are showbiz. Remember that as you see their names and faces splashed across all these books and endorsed products.
Agree with you!
She did precisely the same crap during the internet bubble collapse. She kept encouraging her viewers to buy the QQQs.
“The NASDAQ-100 Trust Series 1 Exchange-traded fund, sponsored and overseen since March 21, 2007 by Invesco through PowerShares, trades under the ticker NASDAQ: QQQQ. On December 1, 2004, it was moved from the American Stock Exchange where it had the symbol QQQ to the NASDAQ and given the new four letter code QQQQ.”
http://en.wikipedia.org/wiki/NASDAQ-100
For the person who thought that Dave Ramsey didn’t see it coming: this present mess is EXACTLY what Ramsey rails against for three hours every weekday. “Debt is dumb, cash is king.”
This current crisis is because our politicians decided it would be a really swell idea to force banks to offer “sub-prime” home mortgages to people who didn’t have enough money or income to buy houses. This was because “home ownership is GOOD.”
This did two things: first, it artificially inflated the value of real estate, as the sub-prime buyers competed on the housing market with those who actually could afford homes, bidding up the price into a classic bubble. This hurt not only the sub-prime borrowers but also everybody else. It also artificially inflated the perceived net worth of just about everybody.
Second, it drastically overextended the banks and saddled them with billions of dollars of essentially uncollectable debt.
Oh, it did a third thing too—the purpose of the entire exercise: it made the politicians look good and gain votes—especially from their prime victims, the working poor who got enticed to buy houses they really couldn’t afford.
The whole scheme worked as long as the economy stayed good, and those people who were in homes they couldn’t afford could keep up on the payments.
So, Ramsey isn’t a fan of debt for even people who can afford it, let alone extending debt to people who can’t.
Don’t worry; I’ve never listened to her for more than a minute. I find her yapper dog personality insufferable in itself.
Who said I wanted dummies to take me serious? I simply asked a question.
Suze Orman is an ugly, loudmouthed, platitude spouting, lesbian moron. She may feed some people good advice in their view, but I heard the same thing she parrots from my uneducated grandmother 45 years ago. If Suze was worth her salt, she would be out in the private sector making billions off of other’s wealth like Warren Buffet.
Probably Granville.
I saw a suzie Ormen Filing case at office depot for collecting your bills/receipts that was waterproof and Cost $75 Yeah right!!!
What sez Suze got burned by Madeoff
They can still fail. There’s institutional risk with the insurer unless the bonds are backed by Treasuries.
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