Like a lot of you out there, I did not like the bailout. A
friend of mine asked me how long did I give the bailout to fail, I
said 30 days. He said to me, "You really only give it 30
days?" I was wrong, it took less than 4 days to fail.
Today, the first time in over four years, the Dow tumbled to less
than 10K.
Why? Fear. This nation is gripped in the fear of losing
everything. The thing you fear will come upon you.
Triggers for me were obvious. If this WAS such a good deal,
then private investors would have stepped in. They
didn't. Instead Americans were told this was a good deal by
some of the biggest names in the financial world. It
wasn't. Most Americans did not believe it. Wall Street
sure didn't believe it, and investors didn't believe it.
Most of us felt this was the end of Capitalism and turned this into
a Socialist economy. I viewed this bailout as giving money to
someone on a gambling binge. The money would just be gambled
away. Throwing good money after bad. So now, the
American taxpayer's pockets where tapped to save Wall Street, when
what we are seeing is a huge greed correction in the
market.
Ladies and Gentleman, you only had to feel the fear to know this
was going to happen. Unless our nation takes a hold of its
fear, it is only going to get worse. For people who do not
have anything invested in the market, those of you who are wiping
your brow giving yourself a sigh of relief...be thankful for
now.
This is a trickle down economy. People are afraid of losing
everything...homes, cars, mutual funds, retirement accounts, and
more. It is time to stop putting faith in the material things
of this world, and I guess that is why a lot of you are starting to
pray. A lot of you are going back to the neglected churches
because you are seeking answers to this financial crisis, and in
times of distress your knees hit the pavement.
What have you placed your trust in? Money? People?
Things? Relationships?
We all saw this coming.
This is just my commentary on this matter. What we need are
answers. The best answer I can give you is not to take any
actions that are based in fear. Open yourself up to think
about how to stabilize yourself during this storm. Follow
your intuition and not your emotions. If you follow your
intuition you will find you will feel better about the decisions
you have to make in your life. Ride out the storm. It
will pass.
The cost of fear
user
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From the Community…
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Posted by Mon Oct 6, 2008 10:31am PDT
Report AbuseGood advice. What stinks is why can't people see what's going on. Funny how you called it " a gambling binge". That's how I described it to a few of my soldiers. I told them that's like me going to Vegas and loosing all my bill money and having the nerve to complain about it. Uh, that's what you get for being greedy. Right? What about all the other people in the world that lost their homes and such? I got an email the other day about speading that 700 Billion dollars to the American people. It sounded like a better idea. Whatever.
Again. Nice advice.
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Posted by Mon Oct 6, 2008 11:14am PDT
Report Abuserunvws, I saw that suggestion on Shine in an earlier blog...sounds better the more I hear it. Thanks for your take, Marilyn Campiz. Excellent point about the fear.
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Posted by Mon Oct 6, 2008 1:25pm PDT
Report AbuseIT IS ABOUT SURVIVAL,THEY ONE THING, THEY TELL US ANOTHER.
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Posted by Mon Oct 6, 2008 1:49pm PDT
Report AbuseThank you for this post. I'm tired of the fear-mongering in the media and in politics. I refuse to be afraid. Fear makes people vote for stupid things. Fear is the way they blind us to bad policy. Things might suck right now, but ride it out and keep your chin up!
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Posted by Mon Oct 6, 2008 3:15pm PDT
Report AbuseThis is the FALL OUT of trickle down economics, which is no way the same as the free market. I don't worry for myself, as I'll continue to be able to scrape by for some time to come. I do, however, worry for my mother who is a widow nearing retirement age with a 401k. Who knows what will be left of her funds in a few years, whether the market will recover enough for her to have enough to live off or not. My mother's worked all her life. I don't want her to have to work into her golden years to make up for mistakes that others made. She talks about selling her home, but she'd never get what it's worth if she sold it now. Of course, the heating bills on that drafty old Victorian home are killing her income too. You know what they say: 6 of one, half a dozen of another.
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Posted by Mon Oct 6, 2008 5:40pm PDT
Report AbuseThe only thing the bailout plan did was to plunge us farther into debt and to make the dollar even more worthless than it already is.
Our monetary system is based on fiat currency. The value of the dollar is based on how much actual paper money exists in the country. The Federal Reserve prints money out of thin air (they don't have any gold or any other tangible wealth to back it up) then it loans it to our government with interest, of course. The government then loans it to the banks and the people for compounded interest.
There is never enough money in circulation to pay off our debt. The more money is printed and pumped into the economy, the less the dollar is worth.
We will be in debt for the rest of our lives..... because that's the only way the system works.
The only way to get out of it is to abolish the Federal Reserve and to have Congress be in charge of the U.S. Mint again. Congress is the only institution allowed to coin and print money, according to the Constitution. Of course, that all changed in 1913, when the Federal Reserve and the Income Tax Acts were passed.
Do you want to learn more about our financial system and how thoroughly we have been screwed by the banks?
Go to Google and type in "Zeitgeist: Addendum." It's the first link at the top. You won't regret it.
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Posted by Mon Oct 6, 2008 5:48pm PDT
Report Abusepeople can't see what's going on because so much of what is really going on is hidden from us.
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Posted by Tue Oct 7, 2008 5:47am PDT
Report AbuseWe need Global Leaders. The world did not invest in Human Capital to manage Global Economy. All leaders were trained to greedly manage Domestic economies.
With the Supernatural intervation of Almighty God and Human to humble before God, i see a GOOD future. Intergrating Technology to facilitate Innovation ,Creativity and Nurture Positive State of OUR MINDS, the Earth is the best place to Live and Enjoy the Free LIFE GOD has blessed us.
Now is the time to create REAL WEALTH and not greedy policies. LIFE is REAL and VIBRATIVE. Let us vibrate POSITIVE thought processes.
Thankyou,
RICHARD CHANSA K. MUSONDA
EXECUTIVE DIRECTOR - CENTRAFRIQUE AGRICULTURE (PTY) LTD.
BOARD DIRECTOR - MOGAKOLODI COSULTANTS (PTY) LTD.
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Posted by Tue Oct 7, 2008 8:44am PDT
Report Abuse"The world did not invest in Human Capital to manage Global Economy"
In other words, humans are worthless and should be nothing more than slaves in this whole good future scheme of things..... uh huh..... and that's exactly what the Rothchild's say. I bet you agree with the whole eugenics theory, too, don't you Rich?
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