Comments on: The Economy Today http://theconservativereader.com/2008/09/29/the-economy-today/ Energizing The Movement Fri, 26 Feb 2010 03:12:47 -0700 http://wordpress.org/?v=2.8.2 hourly 1 By: Art Smith http://theconservativereader.com/2008/09/29/the-economy-today/comment-page-1/#comment-74 Art Smith Thu, 02 Oct 2008 02:19:36 +0000 http://conservativereader.net/wordpress/?p=1203#comment-74 Thanks, DJ. I understand where you're coming from, but I still don't think that rushing a process that puts the taxpayers money at risk is the right thing to do. And the fact that the Tuesday hit on the Market was over a trillion dollars just makes me think Wall Street already has the deep pockets to solve this. I'm even more concerned when WSJ publishes a story like they did this morning highlighting the pain of an elderly investor that kept a single stock investment out of pride, amounting to 1/3 of her income, instead of establishing an appropriate diversification approach to reduce her exposure. The message from the article is: people are hurting because the market is crashing. The real message should be: don't put all your eggs in one basket. I know that even well diversified portfolios are getting hit hard. Mine is down substantially as well. But I'm confident that it will be back up again. I believe the money is needed to open up the credit flow, but I just don't think taxpayers need to finance it. Oh, and by the way, I'm still way up on the positive side on the bank stock I own. Up about 25% for the year so far on 2 quarter-end (Q1 and Q2) investments. Not that I'm that smart, it just worked out. Thanks, DJ. I understand where you’re coming from, but I still don’t think that rushing a process that puts the taxpayers money at risk is the right thing to do. And the fact that the Tuesday hit on the Market was over a trillion dollars just makes me think Wall Street already has the deep pockets to solve this.

I’m even more concerned when WSJ publishes a story like they did this morning highlighting the pain of an elderly investor that kept a single stock investment out of pride, amounting to 1/3 of her income, instead of establishing an appropriate diversification approach to reduce her exposure. The message from the article is: people are hurting because the market is crashing. The real message should be: don’t put all your eggs in one basket.

I know that even well diversified portfolios are getting hit hard. Mine is down substantially as well. But I’m confident that it will be back up again. I believe the money is needed to open up the credit flow, but I just don’t think taxpayers need to finance it.

Oh, and by the way, I’m still way up on the positive side on the bank stock I own. Up about 25% for the year so far on 2 quarter-end (Q1 and Q2) investments. Not that I’m that smart, it just worked out.

]]> By: DJ Durant http://theconservativereader.com/2008/09/29/the-economy-today/comment-page-1/#comment-73 DJ Durant Wed, 01 Oct 2008 21:24:55 +0000 http://conservativereader.net/wordpress/?p=1203#comment-73 I've had a couple of days to digest this whole thing, and that provides perspective. Action is better than inaction and at least Msrs. Bernanke and Paulson and President Bush were willing to try something to restore confidence to the credit market, as opposed to sit around and wring their hands and blame everyone but themselves (Sen. Dodd and Rep. Frank, sound familiar?). I'm reminded of the 60 Minutes interview with Sec. Paulson. I guess what I didn't realize was how severely the credit markets nearly imploded. It's easy to say that the world didn't swallow us up, but when you're going through it, and when you're trying to help other people manage their retirement plans...well, let's just say it's pretty uncomfortable. I’ve had a couple of days to digest this whole thing, and that provides perspective. Action is better than inaction and at least Msrs. Bernanke and Paulson and President Bush were willing to try something to restore confidence to the credit market, as opposed to sit around and wring their hands and blame everyone but themselves (Sen. Dodd and Rep. Frank, sound familiar?).

I’m reminded of the 60 Minutes interview with Sec. Paulson. I guess what I didn’t realize was how severely the credit markets nearly imploded. It’s easy to say that the world didn’t swallow us up, but when you’re going through it, and when you’re trying to help other people manage their retirement plans…well, let’s just say it’s pretty uncomfortable.

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