Not holding him in sainthood, just wondering if people and MSN have truly run out of material when they stick skewers in dead politicians attempting to make flimsy articles stand-up.
It's a terribly written piece.
1) The market is indeed correcting some/many of the abusers.
2) If you are foolish enough to listen to "experts" or anyone else with you money, then who can you blame?
3) Buy and Hold? Wait I thought the crooks were day traders!
4) "Overpaid CEO's" don't really have anything to do with "Wall Street"
5) Then there is this gem:
Big Lie No. 5: Buy a flat-screen TV, save the economy
Maybe the biggest lie about to be foisted on people is that they should go out and shop to save the economy. Wall Street wants you to spend to pump up the economy. Much of the federal stimulus package enacted this week entails tax breaks and handouts to get people spending.
This is what Washington DC is pitching, not Wall Street.
Meh. MSN fluff.
I'd say that Ronnie made you most proud to be an American.
I'd also say that his administration marked the beginning of the "economic fad" in mass population fleecing that has never gone away since. You may attribute it all to one notion or another ..but from there on out, it was just a matter of time for you to corral enough into the pen ..and wring 'em out.
The discovery of South Dakota as a haven for usurious interest rates on credit cards (as long as the bank was based there) predates the 40th president.
That took off in the 80s, along with the eventual attitude of using home equity to pay off said cards over and over again. That bubble was something, but boy howdy...
Wall Street is not a term for a benevolent society.
Who does not expect misdirection from them?
Did I win something?
I think a lot of sources along with Wall Street have been touting stocks. Like companies for instance with their 401Ks.
I am a dummy I guess because I did not know the market was going to drop off a cliff. I had heard from certain individuals on TV and in print that preached that doom from time to time.
But like a man with the sign on the corner saying the World is gonna end soon. You just didn't think the market would drop so soon.....
Mostly MSN crock of khrap stuff. A couple of them don't even have anything to do with "Wall Street".....
like real estate agents down here. Market is going down, down, down, but they keep making reputable news sources (abc.com.au) publish stories that "forecaster predicts 22% property growth in [insert town of your choice here]" and whoa, people go buy some property there...
1) You can predict the future by running statistical analysis of the past.
2) Stocks have always been out performing bonds, real estate, and cash.
3) You should start investing early in stocks (and mutual funds) rather than paying off your mortgage and loans.
4) Timing the market doesn't make much of a difference, investing a fixed percentage of your income for the long term regardless of market condition would guarantee a good return.
5) No one can beat the market in the long term.
"1) You can predict the future by running statistical analysis of the past."
Not exactly predict the future, but stocks do have a tendency to repeat paterns.
"2) Stocks have always been out performing bonds, real estate, and cash."
In the long term there is some truth to this. In any given period of 1 day to ten years, your mileage may vary.
"3) You should start investing early in stocks (and mutual funds) rather than paying off your mortgage and loans."
Yeah I'm sure brokers and MF companies are guilty of pushing this. That said, nothing wrong with investing early if you can pay loans off as well.
"4) Timing the market doesn't make much of a difference, investing a fixed percentage of your income for the long term regardless of market condition would guarantee a good return."
Hey - this one bugs me a lot. I think an individual can do both. Especially if you actually invest (BUY!) MORE when the market is down. But steadiness can be a winner. Look who came out the best in this last dive. People who saved a LOT and people who timed OUT before the dive.
"5) No one can beat the market in the long term."
"No one" - that excludes a lot of people!
I don't think I'd personally "blame Reagan" ..but while he had the band playing and the parade moving, a whole lot of shenanigans took hold. It's why I term it the "come and get it, boyz" era. A steel company bought BP (or the other way around) under a loop hole in the tax credit for domestic investment to the tune of $150M (or some big figure in equivalent public inverted subsidy) ..we became the biggest debtor nation. We had the S&L Crisis ..insider trading scandals ..junk bond scandals ..and that's just my short list. Come and get it, boyz ..come en gitit...
IMO it was the benchmark for future financial fleecing games of "top this" in what you could get away with. You crank up the music on the chair game.
The next boom bust cycle was just as bad if not worse. Enron/World:Comm ...massive market correction from too much speculative money tail wagging real worth dog...