For most of us, including my clients and friends, we’ve worked hard to get the few things we have and a lifestyle we were comfortable with until investment banks, Wall Streeters and government types did stupid things and changed everything for us. From what I have been able to read and observe few, if any, of the people that were involved in the diabolical machinations of subverting fixed income investments have paid any price at all. The only ones that have paid any price at all are those of us who had nothing to do with why we are in the economic toilet.
The government has thrown a lot of our money at the ‘other’ people’s problems and selling us on the idea that giving away our money to known alleged criminals is for our own good. All that money handed out to complete nitwits will have to be paid back but not by the nitwits themselves but our families at some time in the future. There is no reason that you, me or the family next door should be involved in this mess but we are. If this doesn’t grind your toast, I don’t know what will.
The insult added to the injury are new books being published that are selling the idea that we should find solace and comfort in these new times. Time Magazine recently reviewed three such new books appearing just in time for summer backyard reading because no one can afford to go to the beach this year.
Two of the books are selling the idea that we should be happy because we are revisiting the good old days. I lived those days and saw nothing so special that I would want to go and revisit them. John Robbins new book is, The New Good Life: Living Better Than Ever in an Age of Less. Pia Catton and Califia Suntree wrote: Be Thrifty: How to Live Better With Less.
This may be some new religion like Jim Jones promoting the People’s Temple but I am not having anything to do with it. If I had my druthers I’d opt for having my life that I had prior to knowing what CDOs were and how those man-made investments could screw up world economies. I don’t want to be thrifty, I am at an age where I don’t want to price check a can of beans or comparison shop my tidy whities. I don’t want to drink Kool-Aid instead of the ‘Real Thing’. I have eaten generic corn flakes, and I want real corn flakes with real milk not the reconstituted dried stuff. To try and tell me that I can find happiness and live better than I did years ago is simply wrong. Don’t spin me and the rest of the country like we’re idiots and we should roll over. Broke isn’t better than having money. Honest, it isn’t.
This is not a time for Americans to be rolling over and saying that we lost our lifestyle that we worked decades for and now we should be happy with what we have. I don’t like the idea of having bought a home over a decade ago and along with all the money I sank into major improvements I now should be tickled pink I can barely break even if I, or my relations, need to sell it. We should not be compromising and forgiving but making sure that those that got us here end up paying a price. That price to be paid includes every company that was involved in this economic maelstrom along with each and every person that participated. Our government doesn’t seem to think so.
There should be a new book written; Companies and People Responsible For The Second Worst Global Depression. Stripping all those who were involved of their assets and tossing more than a few of them into prison can be more effective than all the new laws being contemplated on how to prevent a Third Global Depression. That’s the book I’d pay for and read.
If you have questions call Paul @ 877 783 7080 or write him at pstanley@westminsterfinancial.com. Share this blog with someone who cares about their money.
No comments:
Post a Comment