That always happens when the economy hits a bump- people start to panic and demand that the government "Do Something!"
Today sucked. I can't even bring myself to look at my stock portfolio. But protectionism and government regulation are not the answer, and never have been.
If we had been ‘protecting’ our economy, it wouldn’t be melting down right now.
Exactly.
This in turn makes the situation worse in the long run for those politically driven in government these days generally do what voters want them to do instead of doing what is appropriate to do as statesmen.
Well put.
No matter how badly things may go in the free market, increased government involvement always makes it worse.
Always.
A university economic study even indicated that the Great Depression would have been shorter and shallower if the Govt. had left it alone.
I'm in the position of Trustee of my elderly (87 with Alzheimers) mother's assets, and I absolutely despise that part of the job. Dad died one year ago at 94; wifey and I had dug into their assets a couple of years before that and were appalled at where their money was "at".
Charles Schwab - or whoever - had talked them into tons of very long term, low yield bonds...and the rest was in stocks that the parents "liked the name of", like GM, Ford, Microsoft, bla bla bla.
I'd gotten very tired of watching the assets go down the toilet over the past years so finally pulled the trigger about 6 weeks ago and had Schwab dump ALL the stocks and most of the bonds and just put it into the cash account.
She ain't earning much now, but those monthly statements showing 10K down the toilet are gone.
.................Shoulda done the same with my own Janus funds. It's mattress time. I'm 61 so the "next cycle" theory is iffy, at best.