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Better be a lack of billionaires in recessionary times
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KathieO



Joined: 12 Aug 2008
Posts: 69
Location: Alaska

PostPosted: Sat Sep 27, 2008 6:08 pm    Post subject: Marianne - A Person Unruled by "Media Bias" and ad Reply with quote

Marianne - Your "rant" has reinstilled some confidence in the people in America for me (at least one more is out there - You - with a brain)!! I've lurked on a few other boards (other sites) lately (it being an election year), and am feeling particularly pessimistic as to the general populations factual knowledge with regard to how our country is not only governed (I mean how it actually works, not any given years/parties' politician of the moment), as well as taxes and financial knowledge in general (i.e. the top 8% "rich" (which also includes double income households making $100,000+/yr of taxpayers and pay approx. 94% of the taxes in our coffers! This is America and it's THEIR money, so why is everyone saying they should not get a cut! I'm not rich, just understand the real tax system, and am not comfortable arbitrarily redistributing other people's money no matter how much more they have than me)! I have to admit that I do make my living off helping others run their businesses successfully by understanding finances, but the simplest financial ideas (we are talking simple math) seem to evade even those with sophisticated educations! The bailing out of those you described ("house poor" buyers) grates on me as a taxpayer as well. Reminds me of friends who've given everything to their children, and now can't understand why they are continuing to bail them out as adults - did not teach them to live within their credit means and now it's en mass out their with these home bailouts (lending to "no credit; no job; no security" buyers!! Doesn't take a rocket scientist to figure out that future problem)! And yes, our entire market is NOT on the decline, rather they are referring to one sector of the market (financials) (and even on that Tuesday drop (4% as opposed to the 22% drop in the '80s), my mutual "fund of funds" diversified retirement actually gained $.02 on it's portfolio of stocks)! However, if the media and politicians continue spouting "gloom and doom" the "educated by the media" population will follow like sheep and actually freak out and create an actual across the board decline! Okay - I've also ranting off the charts today (and I have electricity Laughing . . . so I guess I'm just cranky right now; but my stepsister (Houston) lost part of her roof and her shed, so I'll rant for her vicariously as an excuse!) Maybe I'd better lighten up and go read "The Unregulated Freddie Mac CEO's Bailout by his Pregnant Billionaire Mistress," rather than all those crazy blog sites (AAR smart blog site excluded of course! Very Happy )
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