Times are bad now. They say unemployment is too high, corporations are reporting lower or no profits. The Federal Government is pumping billions of dollars into the economy to stimulate growth. The banks are failing, the auto industry needs an infusion of cash. Retail sales are down dramatically. Medicare and Social Security need to be fixed now. We are saddling our children with a massive debt.
Know how I a
m going to solve this problem? I'm going to stop reading the newspaper or watching the news on television or listening to talk radio or reading the news on the internet. That's right, I am going to stick my head in the sand!
In fact, I am going to do something really crazy, I am going to buy some common stocks! I am going to buy shares in General Motors and Ford. I am going to buy stock in Bank of America and AIG. I might even buy some shares of Exxon for good measure. To have a little fun, I think I will see if anyone will sell me some Disney stock.
There are some advantages to old age. You learn that nothing goes in a straight line forever. The stock market, the economy, businesses will not continue to drop to zero even though it seems that way sometimes. The stock market of the 1930s gave everyone a deep depression, pun intended, but it eventually gave way to a booming economy in which fortunes were made. This economy and stock market will do the same.
With old age you learn that Americans are resilient. We may be self indulgent at times, we may be wasteful at times, but when it matters, we are a strong people and we are a smart people. Advancement generally come when required by necessity. America will work it's way out of the doom and gloom of these times.
Old age gives a different prespective on numbers. Specifically I am referring to the unemploment numbers being reported. In my part of the world, unemployment is at 8.5 % and expected to level off at 10%. Now I admit for the 10% unemployed, this can be a bad thing. But two things must be remembered. One, full employment does not mean 0% unemployment. There must always be some unemployed as new workers come into the market and people shift employment. Many experts feel full employment will always have 3% to 3.5 % unemployment. At 10% unemployment, we have a true unemployment of 6.5% to 7%. Secondly, 10% unemployment means 90% employment! Nine workers out of ten workers have a job.
You see, I believe in America! In fact, I am going to put my money where my mouth is and do something crazy. I am going to buy a new 52" television and a new car (well, maybe a new used car), I am going to increase my giving to my favorite charities, I am going to go out to eat at someplace other that McDonalds and , hold on to your hats, I am going to buy some common stock!!
Thats my View From The Fall
Know how I a
m going to solve this problem? I'm going to stop reading the newspaper or watching the news on television or listening to talk radio or reading the news on the internet. That's right, I am going to stick my head in the sand!In fact, I am going to do something really crazy, I am going to buy some common stocks! I am going to buy shares in General Motors and Ford. I am going to buy stock in Bank of America and AIG. I might even buy some shares of Exxon for good measure. To have a little fun, I think I will see if anyone will sell me some Disney stock.
There are some advantages to old age. You learn that nothing goes in a straight line forever. The stock market, the economy, businesses will not continue to drop to zero even though it seems that way sometimes. The stock market of the 1930s gave everyone a deep depression, pun intended, but it eventually gave way to a booming economy in which fortunes were made. This economy and stock market will do the same.
With old age you learn that Americans are resilient. We may be self indulgent at times, we may be wasteful at times, but when it matters, we are a strong people and we are a smart people. Advancement generally come when required by necessity. America will work it's way out of the doom and gloom of these times.
Old age gives a different prespective on numbers. Specifically I am referring to the unemploment numbers being reported. In my part of the world, unemployment is at 8.5 % and expected to level off at 10%. Now I admit for the 10% unemployed, this can be a bad thing. But two things must be remembered. One, full employment does not mean 0% unemployment. There must always be some unemployed as new workers come into the market and people shift employment. Many experts feel full employment will always have 3% to 3.5 % unemployment. At 10% unemployment, we have a true unemployment of 6.5% to 7%. Secondly, 10% unemployment means 90% employment! Nine workers out of ten workers have a job.
You see, I believe in America! In fact, I am going to put my money where my mouth is and do something crazy. I am going to buy a new 52" television and a new car (well, maybe a new used car), I am going to increase my giving to my favorite charities, I am going to go out to eat at someplace other that McDonalds and , hold on to your hats, I am going to buy some common stock!!
Thats my View From The Fall
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