Were hear a lot nowadays about “stimulus”, “bailout”, “omnibus bills”, “earmarks” and “pork”. Well, what does all that mean? We just know this much…the country and its citizens are hurting.
The stock market is in pitiful decline. I’m surprised we haven’t seen people leaping out of the 50th floor windows of skyscrapers in major cities. Mega rich Warren Buffet himself has admitted he’s lost 62% of his net income.
On Election Day 2008 the market closed at 9625.28. It closed today, March 4th, 2009 at 6,875.84. That’s almost a 29% drop since November and doesn’t take into account earlier highs of 12,000 and better. The market is at a 12 year low.
Our new President seems clueless and helpless on how to react to the situation. As he watched Americans’ wealth and future dwindle further Monday, he made the statement that now was a good time to get into to the market…that there would be some good buys out there for people to hold onto for the long run! Not even familiar with financial terms, Obama said the “profits and earning ratio” made the market a good deal. Stocks are considered on a “price-to-earnings ratio”.
What “Mr. President” seems unable to grasp is the fact it’s too late for some people. They’ve already lost their retirement, savings and 401Ks…which are all really “four letter” words to a politician who expects “the people” to spend their life sucking on the government tit.
Many people who have suffered such great loss are common people looking f0r a secure retirement…or at least one in which they won’t have to eat Puss n’ Boots cat food out of a can. They don’t have 10 years to wait for the long run…and shame on you “Mr. President” for not comprehending that reality or not caring about that!
“Mr. President” & Co. are too busy spending $800 billion plus just for the very purpose of keeping the aforementioned government tit lactating…and creating more debt for this country by the second. We are now trillions of dollars in debt. It will take generations to pay this amount off. As an example, we are still paying off the debt leftover from WWII and it was nothing like this debt.
So, how much exactly is 800 billion dollars? Well, watch this astounding little video and find out. I just wanted to bludgeon myself when I realized exactly how much money that is…
Now, just imagine you had that kind of money…what would you do with it? Would you still be in debt ? I don’t think I’d be in debt if I just had one year’s worth of money of that kind…or even 30 days worth of money of that kind!
Methinks the inmates are running the asylum…
© 2009 Beverly Hicks Burch All Rights Reserved.