The last few days has seen an upturn in the stock market. Market analysts are now proclaiming that we have seen the worst of it and whether or not we go straight up from here, we finally have reached the bottom. It is now a good time to invest.
I don't believe too many people believe this B.S. I don't even think the ones who are saying it actually believe it. If these statements weren't so self serving and actually harmful they could be laughed at. It reminds me of some story from the bible where God asks Noah to find one good man and he will save the world. Noah can't deliver and God unleashes the Great Flood. Where can we find today someone we can trust, someone we can believe in.
Actually I am beginning to think that there are a lot of good people. They are not the ones who are doing most of the talking. The skills and abilities that have enabled people to get into positions where they can express their ideas are not a commitment to truth, a desire to dig deeply into issues, a spirit of openness, or the willingness to admit weakness or infallibility. They usually are good looks, an eye for fashion, an ability to entertain or communicate with flair, and an out of control ego that desires followers.
Their are a few exceptions and there are those who are willing to fight against the system for the right reasons and without concern for their own image or personal gain. More importantly there is a growing mass of of average individuals who are tired of being lied to, who no longer are willing to put up with the ridiculous treatment that prevents them from getting the simplest things accomplished within the maze of corporate bureaucracy. If Thomas Paine was living today he probably would write Common Sense, Part 2. The seeds are being sown for another revolution, a non-violent one, that will transform the society as we know it. I'm looking forward to it.
Showing posts with label stock market. Show all posts
Showing posts with label stock market. Show all posts
Tuesday, March 17, 2009
Thursday, March 5, 2009
Stock Market Woes
The stock market reached a twelve year low today. The average investor with a stake in the market through their retirement plans or brokerage accounts is frightened and confused. The professionals (who have profited tremendously over the years by convincing us that, in the long run, the market is the best and safest place to keep money) are now scrambling to call a "market bottom," to point out how most stocks are greatly oversold. Blame is being thrown around like confetti on New Years Eve; the truth is no one really knows what to expect.
It makes me ill--to hear the so-called professionals say that the rising yield curve is positive, that the markets discounting mechanism is predicting Armageddon, that we are near a bottom, that stocks are trading below book value, that the overall negativity is positive, and that there are tremendous opportunities in these markets for those with patience and good judgement. Give me a break. They have been saying this for the last six months; those who have listened have lost an additional thirty percent over and beyond the initial thirty percent they already lost.
Wall street is blaming government and government is blaming wall street. What is going on is that the old rules no longer apply. The stock market may not be a predictor of the future economy. The entire financial services industry including banks, stock brokers, and insurance companies have been exposed as being either corrupt or incredibly inept. The American automobile industry has been making poor decisions for years. Consumers have been out of control in their spending and gullibility. Government has been more concerned with promoting their own interests and getting reelected rather than what is best for their constituents. Those who do care don't really know what to do and can't admit it.
We will get through this and we will be better off. Hopefully the degree of pain and suffering won't be too great, although there needs to be enough so that we won't want to get burnt again. We have the potential to make life on planet earth everything we have all wanted. Through cooperation between countries and governments especially in the areas of science and technology we can figure out how to support the worlds peoples so that everyone will have a comfortable and healthy life.
What we can't do is let these difficult times go by without collecting for the payment we will all have to make. Although there are no guarantees, we are closer than ever to making real breakthroughs. We need to stay strong and not listen to the B.S. We need to see the ridiculousness of the ridiculous and not be afraid to express ourselves and believe in ourselves. Real hope lies within the individual, but not by following blindly those who are trying to control and manipulate us for their own interest. It will be interesting to see how we do. I am cautiously optimistic.
It makes me ill--to hear the so-called professionals say that the rising yield curve is positive, that the markets discounting mechanism is predicting Armageddon, that we are near a bottom, that stocks are trading below book value, that the overall negativity is positive, and that there are tremendous opportunities in these markets for those with patience and good judgement. Give me a break. They have been saying this for the last six months; those who have listened have lost an additional thirty percent over and beyond the initial thirty percent they already lost.
Wall street is blaming government and government is blaming wall street. What is going on is that the old rules no longer apply. The stock market may not be a predictor of the future economy. The entire financial services industry including banks, stock brokers, and insurance companies have been exposed as being either corrupt or incredibly inept. The American automobile industry has been making poor decisions for years. Consumers have been out of control in their spending and gullibility. Government has been more concerned with promoting their own interests and getting reelected rather than what is best for their constituents. Those who do care don't really know what to do and can't admit it.
We will get through this and we will be better off. Hopefully the degree of pain and suffering won't be too great, although there needs to be enough so that we won't want to get burnt again. We have the potential to make life on planet earth everything we have all wanted. Through cooperation between countries and governments especially in the areas of science and technology we can figure out how to support the worlds peoples so that everyone will have a comfortable and healthy life.
What we can't do is let these difficult times go by without collecting for the payment we will all have to make. Although there are no guarantees, we are closer than ever to making real breakthroughs. We need to stay strong and not listen to the B.S. We need to see the ridiculousness of the ridiculous and not be afraid to express ourselves and believe in ourselves. Real hope lies within the individual, but not by following blindly those who are trying to control and manipulate us for their own interest. It will be interesting to see how we do. I am cautiously optimistic.
Tuesday, February 10, 2009
Where do we go from here?
The new Treasury Secretary Tim Geithner announced this morning his plan for rescuing the banks. Strip away the politico-speech and he said that our financial problems are complex; that he and his staff, including Obama, are not sure what needs to be done; but they are optimistic they will figure it out. No surprise, right? But the stock market reacted and plunged over three hundred points.
What does this mean?
Most economists and financial thinkers assume the market is a good leading indicator of what lays ahead. Does this mean the economy is in worse shape than previously thought? What should we do with our money, if we have any? There are many questions, few answers.
Where do we go for answers? Who can we believe?
It's a little troubling: the world is spiraling out of control and no one really knows what to do. This is not a bad thing; hopefully, we will end up creating a better world. It's time, though , to raise our game. We need to see things more clearly. I mean all of us. We can't depend on leaders, politicians, talk show hosts, journalists, or so-called experts to tell us what to do. We need to work on strengthening ourselves and our awareness so that we can contribute to the solution. It sounds scary, but we can't keep depending on the people that got us into this mess to get us out.
For years we have been convinced by the collective power of businessmen, marketers, advertisers, psychologists, and trend setters that we need to buy things we don't need with money we don't have. This has been the mantra of our western consumer society. Now we're paying the consequences. How can more spending and more debt be the solution?
But what is the truth? We don't really know. This admission of not knowing is a great starting point for an exploration that may lead us to safety.
Where do we go first?
I'd like to think about that.
What does this mean?
Most economists and financial thinkers assume the market is a good leading indicator of what lays ahead. Does this mean the economy is in worse shape than previously thought? What should we do with our money, if we have any? There are many questions, few answers.
Where do we go for answers? Who can we believe?
It's a little troubling: the world is spiraling out of control and no one really knows what to do. This is not a bad thing; hopefully, we will end up creating a better world. It's time, though , to raise our game. We need to see things more clearly. I mean all of us. We can't depend on leaders, politicians, talk show hosts, journalists, or so-called experts to tell us what to do. We need to work on strengthening ourselves and our awareness so that we can contribute to the solution. It sounds scary, but we can't keep depending on the people that got us into this mess to get us out.
For years we have been convinced by the collective power of businessmen, marketers, advertisers, psychologists, and trend setters that we need to buy things we don't need with money we don't have. This has been the mantra of our western consumer society. Now we're paying the consequences. How can more spending and more debt be the solution?
But what is the truth? We don't really know. This admission of not knowing is a great starting point for an exploration that may lead us to safety.
Where do we go first?
I'd like to think about that.
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