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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Spekulatius who wrote (80694)	5/14/2000 7:00:00 PM
From: Tommaso	Respond to of 132070

Yes, and we really can't blame people whose "wealth" has multiplied several times for continuing to be optimistic. And anyone who has done this without piling up any debts will very likely be permanently much better off than people who have never invested, even in the worst possible crash. It's people who have spent this "wealth" by borrowing who will find themselves bankrupt. My next-door neighbor retired a year ago after having had all his pension money in stocks for many years. He converted it entirely to a fixed annuity. He has missed the last year of the bull market, but for the rest of his life he will enjoy a much higher income than he ever had before. He seems to have more money than he can possibly spend, given his habits--his only extravagance being to buy a new VW Bug.