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Gabe Menezes wrote:
> Looks like we shall have to endure death by a thousand cuts - most of
> us would rather have a nice brutal shake up...it ain't gonna happen.
-snip-
> If you think we are almost near the bottom, drip feed your buys.
Gabe,
This is only the beginning of the economic crises.
There is nothing to invest in unless you have a five year horizon, in which
case these are excellent times to start buying shares.
The people who are really hurting are those who have retired
or almost retired. Those who have retired, open their newspapers
every morning to find that another company has stoped paying dividends.
Retirees are not going to get any where close to the income they planned
and saved for.
Those who were planning to retire soon, now have the lucky opportunity to
work for five years more.
This crises came about only because some idiotic politicians answered the
lobbyist call of REMOVING banking rules and regulations. They removed rules
and regulations that were put in place after the first depression. Rules and
regulations that were put into place in order to prevent a second depression.
Some one has to pay the price for this madness and unfortunately, for now,
its going to be the pensioners.
Having said this, there sure is lots of money to be made trading stuff, but
only if
one is nimble enough. The easiest money is betting that manufactures, and
especially those supplying to the dinosauric US auto sector, will collapse.
Thankfully, the US got the chance at the right time and threw the
failed administration
out of office. A new era begins in January. The first order of business has to
be to
re-instate the banking and trading rules that served well for 80 years. This
wont be
hard to do since the US banks are now owned by the US govt and funding for
lobbyists
should dry up. In addition, Obama and Co are getting their money from direct
mailing
and should have no need to depend on lobbyists for re-election money.
The second thing the new administration has to introduce, is to reward citizens
for
saving. The US is flat broke right now. Just like Zimbabwe, it is printing
money to
survive. Just like Zimbabwe, inflation will follow. Unlike Zimbabwe, the US
does lead
the world in technological break thru's. If Obama and Co are smart enough, they
will
introduce tax schemes to benefit the innovators and thus build the new economy.
The rest of the manufacturing world has to wait for the new administration's
policies
to work in the US. Only after that is achieved will things get economically
better in
countries that depend on US trade.
It is going to be a long time folks. Obama is on record saying that he may not
be
able to achieve an economic turn around in one term.
Mervyn3.0
PS. The time to buy gold is when someone says, "The price is so low, I could
puke."
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