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Politics : Welcome to Slider's Dugout -- Ignore unavailable to you. Want to Upgrade?

To: Proud Deplorable who wrote (15528)	2/19/2009 10:23:33 AM
From: joearenagates	5 Recommendations Read Replies (5) \| Respond to of 50506

What is the Great American Dream? Obviously it means something different based on your aspirations, age, socio-economic status, etc. For me, it means working hard since high school, and starting your freshman year in college working 48 hours a week and carrying 18 credits. It means earning an MBA, securing a good job, and living way below your means so that you can save money to buy a house. It means saving for seven years while living in a three room apartment and buying a nice house and paying cash for it. It means having no debt, thus having the risk tolerance to put all your assets in one stock (CSCO) in 1994, trading the options and leaps on margin for 6 years, cashing out and putting your assets into triple tax free muni bonds. It means retiring at the age of 39 to smell the roses, raise your family, and coach both of your sons baseball teams and travel around the country to your sons baseball tournaments. Thus, you'll forgive me if I am not ready to proclaim the death of the the US economy. I control my own destiny, and I am not ready to buy into the theory that "they" are going to steal my wealth and this country is going to evolve into a Fascist State. What percentage of the population is living the Great American Dream? Admittedly, a very small percentage. However, those that are not were given the same opportunity to achieve it. They chose to squander that opportunity by acquiescing to the mores of our society which are characterized by greed, instant gratification, consumption, and a decaying work ethic and morality. Capitalism is a zero sum game, as well as a double edged sword. However, I am concerned that as the gap between the haves and the have-nots becomes so great we risk a state of anarchy. What is the answer to preclude this from happening? Is it creating more debt, printing more money, and debasing our fiat currency to the point where it is worthless? Is it Socialism? Communism? Similar to previous cyclical economic downturns, the way out is probably a function of time and price more than any silver bullet that the government throws at the problem. Some may argue that its different this time, but from an investment standpoint, that is the greatest philosophical folly one can engage in. I'm not smart enough to figure a way out of this mess, and I don't believe there is any way out in the short run. All I am saying is I developed a plan for success early in life, and worked hard to achieve that plan. And if "they" are going to try and take it away from me, it will have to be pried from my cold dead fingers. Everything is cyclical, and throughout history there are numerous examples of empires being dethroned from their lofty position of global economic leadership. Greed, hubris, and complacency is the kiss of death among traders and investors as well as nations. Thus, maybe what we are seeing now is the beginning of the end as we simply are the next nation in history to fall as a result of the weaknesses of human nature. And, if that is true, the downfall will be inexorable as well as inevitable, although it will not happen overnight. Comments welcome.