Bears are traitors, says Pareti:
"I hope one day the bears will feel sick about themselves and will be so doomed that they will call themselves lucky for living in a century in which high treason is no longer punished as it should. "
It takes two for any market transaction: a buyer AND a seller.
Think about it. Meanwhile, those who bought last Monday for patriotic reasons, because it showed the flag, blah blah, are now realizing how much they lost.
Buy for fundamental reasons, but not because Morgan Stanley and Warren Buffett said it was the patriotic thing to do.
Ditto for buying big-ticket items. Already we are seeing the campaign urging people to "fly, buy, and spend!," when in fact the wisest thing any particular household can do is to avoid flying, avoid buying, eat at home, and conserve cash. For obvious reasons.
"But what if _everyone_ thought this way!?!?"
They won't. Regardless, what you readers here do or don't do won't make an iota of difference, but saving money may actually have a big effect. Think about it.
It may not be "patriotic" to batten down the hatches, but it sure is the smart thing to do.
--Tim May |
