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Politics : Stockman Scott's Political Debate Porch
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To: Jim Willie CB who wrote (10871)12/30/2002 11:34:38 AM
From: SGJ  Read Replies (3) of 89467
 
You know the answer I get around here is markets always go up in the long term, Latin America blows up regularly, and Governments always find a way out of fiscal messes. Many in the rank and file financial community believe that you must think positively regarding the economy or you will cause a self fulfilling prophecy of economic malaise. This allows one with huge debtloads to sleep easily and keep getting up everyday to go to the office. When so many are debtors, what else can they do. Many are in debt because they really have no choice if they are to feed, clothe, educate and maintain the health of their families in the style they think they deserve. They think they deserve it because many have advanced degrees and both spouses are working. Still ends have trouble meeting.

There is a lot of apathy, even with professionals, because the boomer generation has really not ever had a serious economic retrenchment. In CA, you solve the problem by moving further out of from the city your office is located. Some now commuting 90 minutes from inland to the Bay area and still facing $300K mortgages. The 90 minute commute is possible only if you leave at 4 am. Usually you return home at 8pm. You do it, it becomes life and life is good in CA. Think positive or we fall victim to the self fullfilling prophecy.

Gold is not an option because most corporate 401k plans don't offer any vehicle to invest in metal or miners. So gold is off the radar screen. IF the fever catches, the mania will rival the dotcoms.

I listened to George Harrison's "Brainwashed" CD this weekend. Highly recommended. It's golden jackass with a little more soul.
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