Follow Up To "Utopia"
Friends and neighbors,
This is a brief post from me while I am still on hiatus.
I wish to reinforce what Mr. Medaille said. With the New York Stock Market in a tizzy over the last few days, and world stock markets responding to such, it is vital that you prepare yourself for the worst.
I encourage those of you who - like myself - are plagued with much credit card debt to GET OUT OF DEBT AS QUICKLY AS POSSIBLE!!! With personal, corporate and government debt in America numbering in the trillions of dollars, it is necessary to get out of debt as soon as possible. Please, for the sake of your families and communities, GET OUT OF DEBT!!!
And for our foreign readers, do likewise. Some economists I have read in the alternative economic media believe that if the dollar crashes - God forbid! - the Euro made be next. So please get your personal financial houses in order.
Thank you for your time and attention. And please us at the Review in your prayers.
6 comments:
How would you propose one got out of thousands of dollars in college debt that will take me 30 years to repay if I had a good job!
I don't know how. All I do know is that if we don't get rid of our debts, we'll all risk ending up on the streets penniless or starving to death. This is scaring me like nobody's business. I don't want that happening to you or me or anyone.
Just today, the NYSE dropped another 120 some-odd points. Food prices are going up. More hedge funds are shaking on the edge of bankruptcy.
I don't want to go through what my folks and their folks went through in the Great Depression. I don't want to see that happen to you or anyone else in this country. And the only thing I know what to advise for the moment, along with what John suggested, is to get out of debt a.s.a.p.
Along with prayer, I don't know what else to advise.
Roy, I think you're being a little hysterical. If you are so sure that disaster is looming, why don't you make some easy money and short the market? Its relatively easy to do, just call up a broker. If the market tanks, you'll make out like a villain. But if things go well, you could lose money. Put your money where your mouth is! Mine is betting on the stength of the economy, not against it.
BTW, don't let John's erudition scare you. He sings well, but his lyrics are nonsense. There lots and lots of Very Smart Analysts who aren't panicing right now. The total stock market is still up for the year, and that's after nice gains in 2006. The run up from the late spring has turned around, is all.
The advice to put your money where your mouth is is always good advice, but it does work two ways. If the "smart money" is still bullish, Kevin ought to sell the farm and buy stocks. Good luck! And Kevin seems obsessed with the Laugher Curve, despite the fact that no one can locate it. Can Kevin tell us where we are on the curve, or what shape this curve has? If he can, he has declined to do so.
But one wonders why he thinks it matters. As I pointed out, Reagan raised taxes, not lowered them; he didn't use the curve. Either way, he looses. If the curve is true, he abandoned it; if it is false, he used it rhetorically to justify a lot of foolish actions.
So tell me again how the Laugher curve (true or false) helps your case?
I thought it was clear that I was already invested. And that I hadn't taken a position on Reagan, btw. Straw men are people too, John. Why are you always picking on them?
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