I thought this would be a good time to jump in and offer an intellectual discussion on the topics of… the housing crisis, the mortgage meltdown, the bursting bubble, the market collapse, the government bailouts, the hedge fund managers, Fannie Mae, Freddie Mac, the Federal Reserve, WAMU, Lehman Brothers, AIG, Obama vs. McCain, asset liquidity and Merrill Lynch.
But what the heck does all this stuff mean? I am ready to admit that I’m not smart enough to give an educated opinion on these things. I don’t know why a $700B bailout is a good thing or bad thing. CNN tells me one thing. Fox News tells me something else. I find the best network to watch today is Playhouse Disney with my two year old. It’s all smiles and giggles there.
Here’s another thing I don’t get. I don’t really know what hedge fund guys do. The term “investment banker” sounds super cool, doesn’t it? But what is it? I don’t understand why the stock market is going up big, then crashing down, then going up big, then crashing down – all in one week. And if I hear another person say that their 401(k) is a 201(k), I’m going to puke.
And lastly, I’m tired of the term “from Wall Street to Main Street.” I’m guessing I’ll be hearing more of that in the upcoming debates and the ensuing presidential election. Remember Al Gore and his lock box?
So here is what I do know. If you can’t afford it, don’t buy it. If you don’t have the cash, don’t borrow it. Good things come to those who wait. Be patient. Work your butt off and be honest in everything you do. Who’s with me on that? |
