Financial Markets and lack of leadership...

[thejeremy1]

I sold my stock positions a little over 2 1/2 weeks ago.  On Facebook, I recommended everyone (as of that time) STRONGLY review their own investment portfolios and consider all positions strongly.  I got little reply.  Was this because people had already done what they needed to do for their own investments?  People were indifferent?  Most of my FB

Comments

[titivillus]

I saw your post about reviewing portfolio's, and then this, so I thought I would leave a comment. I recognize that a good portion of this is a "rant". (And that's not a criticism!) I do suspect when it comes to financial matters, that a great number of people view it as a private matter, and something that's not talked about in "polite company"(I realize I just implied FB counts as "polite company"... um... just work with me okay! :) ).

As to your suggestion that all the unemployed people with nothing better to do march on Washington... it's been done before. Not that I think that's a bad idea either, but sadly, there might be blood if it happens

[thejeremy1]

M.E. - The older I get the more disillusioned I get with the process. I agree with you but it's just so @%^%^**%(&%Q$%# frustrating. :) No, they are not dumb. None of them ever get indicted for securities fraud, have extramarital affairs, try to kill one of their staffers through a hit man, flirt with other men in airport mens rooms, run for president and cheat on their dying wife and have a kid and try to cover it up with money, commit securities fraud, etc. Nope, they are a smart bunch through and through :)

[titivillus]

Oh, I'm VERY disillusioned, when I said they weren't dumb, I wasn't counting those things as "dumb". Disgusting and reprehensible, but not exactly dumb. And frequently, they know they can get away with it(And do). It's disgusting.

Anyway... I'm not throwing up my hands and saying, "what are we going to do about it." (Although I don't entirely know), but I do think pointing out the class warfare angle is important(especially because large swaths of people have been convinced to vote against their self interest, because they have been convinced their class interest aligns with people who are selling them out wholesale...)

[thejeremy1]

Love that point M.E.

[moghedianne]

Not that I care to discuss it but my 401K is nearly 10% in the hole for the year right now. I did not make any changes to my portfolio per your recommendation in the brainwashed hopes that what "they" say is possibly true and the economy will recover...or that I will contribute to making a bad situation worse by bailing out. Whatever

[thejeremy1]

That was a great article