But the biggest bubble, and one that has yet to deflate fully, is the retirement bubble. Yes, tens of billions of dollars flooding religiously and regularly every month into the stock market because the federal government has just magically decided that stocks and mutual funds are now the defacto retirement vehicle for the masses. And with tax benefits granted via the 401k/IRA/403b and other plans, how can you not throw your money into the stock market?
Regardless, this behavior engrains in the American psychology that rising asset prices HAS to occur simply because we've invested so much in it. That Barack Obama CANNOT fail because we've put our hearts and souls into it. Or (on the other side of the political isle) America CANNOT fail because it's America and Americans are great because Sean Hannity told me so, tee-hee, I want an SUV and a rich husband, tee-hee! It is a religious belief rather than a calculated financial investment that drives market sentiment and thus why you have this;
Oh, yeah, THAT'S reassuring;
"America is still getting sucky, we're just getting suckier at a slightly less sucky rate."
And how does the market respond to this?
Up 2% I last saw today.
Oh yeah, like the market just isn't looking for ANY reason for prices to go up.
C-R-I-P-E-S
5 comments:
Oh yeah. Both my in-laws are on that boat. They were going to retire this year until things tanked.
Personally, having grown up on a farm, I don't really understand the idea of retirement. I understand turning the operation over to the kids and just taking a few rounds on the tractor, or (for city folk) I understand the idea of taking a fun but low paying job (book-store checker, artisinal soap maker, day-care center for your kids, ect) that you only work at a few days a week, but just flat out quitting doing anything money-making and either sitting around staring at the wall or traveling the country dreaming up ways to spend the limited dough you have?
Don't really see how you that's a going to work for people who have been borderline work-aholics their whole lives and have kids the same way.
And then there's my folks, who love each other, but may kill each other if they both quit working and start spending 24/7 together. Come to think of it, I tend to go a little cabin feverish after 2-3 days of 24/7 togetherness with the spouse. Man, I'm never retiring.
Not a day goes by when I don't hear the question, "Have we turned the corner?" or "Have we hit bottom yet?"
I'm always asked about "green shoots" or "glimmers of hope."
The fact is, the data is looking grimmer every day and based on what I know of economics, the policies of this administration and the states will only make it worse. I could be wrong, but I'm not.
The second-derivative psychics are constantly trying to find the turn-around point. They seem oblivious to the idea that "recovery" could be V shaped, U shaped, L shaped or even W shaped. Just because things get worse at a slower pace doesn't mean an upturn is imminent. Just because things improve doesn't mean they can can't turn the other corner and go down again.
Second-derivative psychics are playing their tune for the attention of four dangerous audiences:
1. Politicians, who want to take credit for the upturn,
2. Journalists, who want to scoop the story,
3. Market timers, who want to buy low,
4. Witless pedestrian wage-slaves, whose entire life is spent hanging on to the roller coaster for dear life, cheering on every upturn and screaming on every downturn.
They all make me sick!
What is funny, and we've discussed this before, but isn't it the finite mathematical models of the quants that got us into this trouble to begin with?
Ergo, we're waiting on a second derivative/acceleration formula to predict this market? DIdn't we learn the first time, no matter how complicated the algorithm, it still will fail because human nature and markets are inherently dynamic and chaotic?
Never mind, they make PRETTY models with lots of greek characters! It can't possibly fail! Get this man a modeling job at GMAC!!!!
Last year when people were asking, "Are we in a recession?" my response was, "Who cares?"
The only people who "care" about whether or not we're in a recession are the same four groups of scumbags looking for the turning point now.
I found every job I ever got in my adult life during recessions. I never lost my job in a recession. Tell me: Am I unusually gifted, God blessed, well-connected, privileged or just the luckiest son of a bitch on the planet?
All I can say with any certainty is that I'm not in a recession.
My stock is going up, but all these damned taxes are holding me back. I would actually be doing well, paying off debt, saving for retirement, saving for my son's education, saving for a house, and building a financial safety net if taxes weren't taking more than 40% of my income.
I know I need to pay taxes for public goods, but I know for a fact I'm not getting my 40%+ worth out of it.
I did get a $250 check from Barack Obama as a disabled veteran. It exactly reimbursed me for the $250 I wasted on John McCain. I don't have as much time as some people to seek the teat of government, but I'm going to take all I see and eat all I take.
I'm on a Roman Holiday in this recession. So long suckers, and thanks for all the fish!
The 19th century was a notable time period for the decline of wisdom and the increase in vanity and selfishness. Even before then, the least wisest people existed in cities. Because of the fact that those places are unnatural habitats that enslave people to a political influenced society (bubble). Conformism.
Those who lived in the country and away from mainstream were more likely to find virtues. But during the 19th century, all people were targeted to flee the countryside and move to town. Many farmers found survival to become tougher and tougher. But mostly because they weren't as self reliant as they should have been. They still relied on machines and products manufactured by companies. The thing is, the things that were happening to people were beyond their own comprehension. Little did they really know that they were condemning the spiritual nature of future generations by giving up their preferred way of life. This empowered the money sector. The rest is history.
So now we have come over a century further which has proven to anyone who cares to know, that a bubbled society is a mess that cannot be cleaned up. It must be popped and dried out. The monetary system was created by wealthy people ot maintain their wealth. They have infiltrated all aspects of mainstream life. They want to be the middle man for ALL your needs. If you need to blow your nose, buy tissues. If you need to sipe your ass, by toilet paper. If you need a drink of water, pay the water company. If you need to turn on a light, pay the electric company. If you need something to eat, buy it from the grocery store.
Minatream society is a greed driven society. And by living it, it exercises the greed of all those involved. Even the fools who aren't wealthy. They dream of wealth by playing lotteries. Money does not create self reliance. Wisdom and labor do those things. Whenever you use others to survive, you are not being self reliant. That said, those who use money to survive aren't being self reliant. Even the wealthy people aren't self reliant. Take their money away and watch what happens to them.
You want to see self reliance? Do a little research on Off The Grid living. People who have chosen to go back to the country life. Without mainstream electricity. Without the water company. Without grocery stores. They build a house in the ground to stay cool and warm as needed. They catch rain to store as the water supply. They grow food and raise livestock instead of going to grocery stores. They make less trips to town, which eliminates the need for filling up the gas tank every week. They try every way to make something instead of buying it. That is self reliance.
What do the government and corporations think about such living? First of all, the government is owned by corporations. So we are essentially talking about ONE single entity. The corporations HATE this type of living. Why? Because they want YOU to be dependent upon them to survive. It is how they got rich to begin with. They begin by encruiting dark individuals to go around bullying others. This was seen during the days of the "settlers" in America. People essentially created communities and worked together to be self reliant. But the greed of the government depended upon slavery to thrive. And that is why the government always has its nose stuck in our business. They lie, cheat, steal, and sometimes kill to make fools out of us. It's a game to them.
But if we flat out refuse to partake in the modern way of life, we can create our own life outside the bubble. If everyone did this, the corporations would come crashing down. And the government would lose power. It would be reduced to the size WE intend it to be. As of right now, it is 100% corrupt. And all those who work for it, are just as corrupt whether they want to be or not. Don't believe me? Try going to the welfare office to get assistance. See just how you get treated in the process. And you thought the lady out there was a good person. Not while she's working for Uncle Sam.
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