Hi Ate Us: I have this guy that I read almost daily who is an excellent political blogger. But the day after the elections his posts that ran 4-5 a day dropped to zero. I think that the election just took something out of him. I can understand that. While I would love to blog daily, life just gets in the way. This is 4th quarter and that means lots of work for me. I am pretty much on the road every day somewhere. Last week Western Kentucky and Illinois. The week before that Frankfort all week. Before that I was all over the state for 3 solid weeks. I am not complaining, when I am on the road I am usually making some money.
I feel like taking the next 4 years off, kind of a long term hiatus. I have been warning that the economy is going to collapse for years and received a lot of odd looks and scorn, so I have just decided to be silent. There are many who would bury their heads in the sand and say that things are great, but the economic indicators certainly don't reflect that. Jobless claims are at the highest levels in 16 years. The government is throwing billions and billions of dollars at our banking industry to try to help their incompetence. As I write they have just given Citi Group $300b. That's my money. That's your money. The stock market has dropped in the last year from a high of over 14,000 to under 8,000. I was listening to people last week who have lost half of their 401k. Insane! People actually banking all of their retirement in something so liquid as the stock market (I am a big fan of annuities, and not just because I sell them - because they are safe). But what really gets me was listening to the advisers who told them that we are at the bottom of this "adjsutment" and they should put everything that they have into the market now while the prices are so good. They got one guy so worked up he was going to take a loan against his house (illegal and foolish) to buy stock. So now this guy will have no retirement and have an extra loan against his home. I heard two people explain that they had intended on retiring in the next couple of years, and they don't have time for the market to recover. Bummer for them.
I feel like taking the next 4 years off, kind of a long term hiatus. I have been warning that the economy is going to collapse for years and received a lot of odd looks and scorn, so I have just decided to be silent. There are many who would bury their heads in the sand and say that things are great, but the economic indicators certainly don't reflect that. Jobless claims are at the highest levels in 16 years. The government is throwing billions and billions of dollars at our banking industry to try to help their incompetence. As I write they have just given Citi Group $300b. That's my money. That's your money. The stock market has dropped in the last year from a high of over 14,000 to under 8,000. I was listening to people last week who have lost half of their 401k. Insane! People actually banking all of their retirement in something so liquid as the stock market (I am a big fan of annuities, and not just because I sell them - because they are safe). But what really gets me was listening to the advisers who told them that we are at the bottom of this "adjsutment" and they should put everything that they have into the market now while the prices are so good. They got one guy so worked up he was going to take a loan against his house (illegal and foolish) to buy stock. So now this guy will have no retirement and have an extra loan against his home. I heard two people explain that they had intended on retiring in the next couple of years, and they don't have time for the market to recover. Bummer for them.
