Skip to Content.
Sympa Menu

homestead - Re: [Homestead] Dow could close below 8000

homestead AT lists.ibiblio.org

Subject: Homestead mailing list

List archive

Chronological Thread  
  • From: Clansgian AT wmconnect.com
  • To: homestead AT lists.ibiblio.org
  • Subject: Re: [Homestead] Dow could close below 8000
  • Date: Fri, 10 Oct 2008 12:45:59 EDT



> >Any insistance on blaming one party,
> or the other, is nothing more than sheer cussedness.

Well, it's pretty lame at any rate.

But let's be clear not only whom we are blaming but what are we blaming them
with.

One third of the "value" (wink, nod, nuge) of stocks has evaporated in a
month. If a person was depending on the performance of their stock holdings,
directly or indirectly, they have a tendency to view this as "I lost money".

No you didn't. You didn't lose any money, you lost the promise of money, not
(even) the money itself. The (ever how many) trillions the total holding in
stocks was supposed to have been a month ago, or a year ago, it did NOT
represent any real prospect of those stock holders having access to that many
goods
and services.

Now to the blame. The thing for which someone is owed blame is making the
promise to you that you had the prospects for that amount of money, or that
amount of goods and services when in fact that was unrealistic and everyone
knew
you had no such feasible claim.

It seems as if (and I can't help but think Don is much more savvy than this)
that if only Bush, or the real culprits ACORN and Clinton with the help and
encouragement of Obama, had only done something differently, held their
mouths a
different way, just pursued a different policy, then they would have all that
"money" today. Damn bastards lost all my money!!

But the truth is, had they done the right thing back then, the 401K holders,
pension holders, and stock holders would never have been promised the returns
that have not materialized.

Can you imagine Bush coming out in 2003 or 2004 and telling Gene that he was
going to introduce legislation that would thwart his selling houses for
inflated prices? Or to tell Don (if this fits, Don, just hyperbole) that his
investments were only going to grow by 2% a year for the next two decades?
The very
bandwidth would have been blistering with the language! Damn Bush!

So the real issue here is not that Bush (or whomever we care to blame) has
lost $3 trillion of people's savings and investments, but rather that he (or
they) was not honest with people all along that the increased "wealth" was an
illusion and indeed never really existed.


James<BR><BR><BR>**************<BR>New MapQuest Local shows what's happening
at your
destination. Dining, Movies, Events, News &amp; more. Try it out
(http://local.mapquest.com/?ncid=emlcntnew00000002)</HTML>




Archive powered by MHonArc 2.6.24.

Top of Page