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Strategies & Market Trends : Picks of the quarter -- Ignore unavailable to you. Want to Upgrade?

To: Patrick Slevin who wrote (5482)	3/18/2008 9:34:03 PM
From: Mike McFarland	Read Replies (3) \| Respond to of 20435

I have the sense that wealth was generated in more ways than just the stock market in the 80s and 90s. Taking my father as the only example I know--he only made a mechanics salary during that period, made very little if any from stocks, yet did well upgrading his residence several times--each time he put himself in a better position. He had a very good sense for real estate and the value of undeveloped cheap lots. In the 70s he merely saved, but that was smart too--and he put me through college. Anyway, that mechanic retired on a surprisingly small pension--but with a surprisingly comfortable house. Real estate did really well over that twenty years--and surely it had to do with easy lending forever pumping up values. Maybe that goes away now--I wouldn't touch real estate myself, why pay taxes on something you might not use enough. I should say that mechanic had a mountain cabin too, I wouldn't even consider more than a yurt or a camper. But I digress, my mind wanders. Anyway, my point (if I have one, maybe I am just thinking out loud) is that I have the impression that wealth of all sorts was created in the 80s and 90s. And now that wealth is going to go away to balance things out. Am I nuts? I couldn't tell you how I feel about Libertarianism or economics or how that all fits together, so thanks for your post. I can tell you that the only fellow I could stand to listen to this past year was Ron Paul--to hell with the rest of them, all liars I think in one way or the other. But I am not political enough to know if deep down I am a Libertarian or not, and I've no idea what to think of the way money gets into the system and the way wealth is created and destroyed. Though I think about it a lot. Probably because my father worked his whole life, saved, did it the hard way. A lucky strike in the stock market is much more appealing to me, heh. And yet, I'm 99% cash, very bearish, and ready for the 1970s again.