Posted on 10/09/2008 3:26:20 PM PDT by neverdem
He is the only person I have heard to point out the west's war against radical Islam is a battle between The Enlightenment and The Middle Ages.
I just find it frustrating that folks suddenly realize there is greed on wall street or arrogance in politics.
Do not think anyone here is 'discovering' either one. . .and sense a bit of that same 'arrogance' perhaps; in your imagining such. This can be a 'choir. . .preaching' - so to speak...a 'misery-loves-company'; and/or just a venting here. It is as well a huge sharing of information, meant to inform. . .and meant to be shared with the 'less informed'. Wherever they are.
. . .think the 'above' explanation is just a venting; because I am sure you 'know this'.
I’ve hidden our financial accounts from my husband.....and I’m contemplating looking at them.....
Thanks for Jefferson’s quote.
Look at the above story. The writer is shocked there is greed on wall street. He’s shocked the rules were bent. He’s shocked folks acted in an unethical manner to secure fortunes that will carry forward along and support their families for several generations.
If I look at the current market value of my stock, it’s way down.
But the way I figure it, I still own the same percentage of some pretty good companies that I used to own before the market tanked. The companies aren’t going out of business. They are still going to be the highest quality companies around when things come back.
I could alternatively give my stock to someone else who would get to pick it up at a really low price, and I would be unlikely to get it back again at that price (because there’s no way I would buy it back at the bottom, I would hold out until I was sure the market was going up again, of course.)
I do share your frustration inasmuch as there ARE too many people out there who are either 'shocked' or simply 'not shocked' at all, by the truths unfolding per this crisis; nor shocked by what they must consider as no more than 'inconvenient facts' - and so, are blindly, STILL committed to voting for Obama.
The red flags are everywhere; the warnings. . .and yet; I see the homes where 'boy scouts/girl scouts' live; where the parents are hard-working; America-loving - and Educated. but they have an Obama sign in their yard; or decal/bumper sticker on their car. . .
THAT shocks ME - and makes me crazy!
have to say the economic crisis is working in favor of obama.
Yes, it is; understandable; and it is not surprising that Obama would capitalize here; moreso; given neck-deep involvement of his own Party/Demrat 'Leadership' and his own 'Fannie/Freddie' associations - add to that the level of abuse here and the consequences; it is almost 'amazing to behold' just how brazen; just how cunningly dishonest these practiced liars are.
Worse, their gaining/taking the high-ground here was so predictible! Obama constructed his story; with himself as the hero; and the Repubs as the 'evil-doers' while McCain immersed himself immediately in the problem. Obama attacked and has not stopped. As have the practiced liars, Pelosi/Reid/Frank. . .and the 'rest of them'.
When this started I was about 60% cash and 40% stock. I have since gone to 80% cash and 20% stock (from losses and conversions on the way down). The market has dropped over 10% since my last sale so I figure I won’t get whip sawed too badly now (always a danger when you get out like this).
Looking back at historical daily percentage changes (both highs and lows) you see many bounce backs right after a big loss (especially 1987 for example). We have not seen very many bounces in this drop.
The most frustrating thing is that I could have paid off my house with the money that I have lost this year, and I know that I am in better shape than a lot of other people.
see the kissinger interview with fallaci in the early 70s, to paraphrase, “americans want the hero to ride in on a white horse...”
I just count myself lucky that I am 32, and still have a few years to make up my losses (keeping in mind inflation).
And the prices for rents in the area matter too. I could get a whole lot less space for the same amount of money in my area.
Let me know if you want in or out.
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NRO archive: http://www.nationalreview.com/hanson/hanson-archive.asp
Pajamasmedia: http://victordavishanson.pajamasmedia.com/
Wonderful post, neverdem.
Incentives from hell - derivative traders skimming off more money than exists off silly subprime loans - donations to banking committee members knowing changes would cause long term disasters in spite of short term gains. Just stupidity and arrogance.
The Democrat socialists/communists engineered this financial downfall. Then they nominated a communist for POTUS. About half the people in the US are fearful of a communist take-over; the other half welcome it as they never experienced the cold war and have never been taught or experienced the evils of communism. As the communist candidate gets closer to winning, people are panicing and selling which accelerates the downward spiral. As asset values collapses, people are going to demand socialism/communism in the US to offer some level of protection and safety net. Obama gets elected by a fearful electorate seeking stability of socialism. America may be lost by this cooked-up crisis.
I agree with that — stupidity and its first cousin, a short time horizon. Perhaps there was just too much money to be made to take the long view.
It’s different this time. They hadn’t invented derivatives them.
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