Economics makes my head spin because it's so theoretical. Saying my losses are my fault is like saying those on the Gulf Coast could have lived somewhere else and avoided a massive oil spill and economic repercussions. There is no place to put money except in land and investments, etc. and they are subject to the whims of the boys who fool around with the economy and that includes Congress and the Executive Branch- plus state governments. There hasn't been a decent interest rate on savings in years while there has been a concerted effort to accumulate debt- from college to grave. Retired people who have counted on security are all in the same boat plus most of them have been thrifty, practical and decent citizens not looking for a life-long handout from government. Michelle Obama pays six figures a year to someone to do her hair and make-up- reminds me of Marie Antoinette and we both know how that saga ended!!!
On Jul 5, 2:05 pm, gruff <[email protected]> wrote: > "... On Jul 5, 1:30 am, rigsy03 <[email protected]> wrote: ..." > > > Has that 1% really altered over the course of human history and, if > > not, what does that tell you about human nature? Think of the recent > > social/economic history of 20th C. Russia, Germany and China, for > > instance as they all developed a system of elites.//I don't share your > > optimism and am cautious about the future. Selfishly, I hope I have > > enough moolah to last till I croak but after losing 30-40% of asset > > value due to no fault of my own in the recent recession, I am > > skeptical. > > I don't mean to be deprecating but you've said more than once that > economics makes your head spin and that you've really got no interest > in it. Perhaps if you developed an interest and began to study it ... > like reading the Financial Times or some other such respected economic > and financial news organ on a daily basis ... you might begin to > understand what's going on and out of that might come ... my goodness > gracious, a more optimistic attitude about the future. > > I'm sorry, I'm not being mean, but the assets you lost are your > fault. No one else to blame. You played the game, you chose either > the assets or the portfolio manager who did choose them. They were > your assets. If you didn't know anything about the marketplace then > you should have had your money elsewhere. Even the mattress should > all else fail. Gold is not the smartest of all investments nor is the > U.S. dollar, but they are both excellent havens against loss.
