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Old 11-23-2008, 08:25 PM   #1
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Flimm-flammed by my teachers

Now what?

Reading the paper, I have a distinct feeling my generation has been flimm-flammed by my parents and teachers.
I heard from those parents and teachers that "saving is good". I heard "greed is bad".
I heard "low prices are desirable".
I heard "you must face the consequences of your actions". And "America leads the world in democracy and taking care of its citizens." I'll bet you have heard the same. Turns out they are all wrong!

On the subject of "Greed is good":

A lawyer relative has a nice way of putting it. "Pigs get fed, hogs get slaughtered".

In other words, greed is good, but excessive greed has a price. I thought the American way was to allow all freedoms, as long as actions do not
infringe on another's freedoms. And that we all have the opportunity to follow those freedoms, as long as we take the consequences for them. As an example: greed is allowed, even encouraged, but leads to risks.

So if a small business gets greedy, charges a high price, and makes bad investments, that owner has the opportunity to fail. And those that invested in that business get to face the consequences.

Here's where it breaks down:

If a big business gets greedy, they can get free money, because they are too important to fail. Hence the hogs flooding to the government trough of the bailout. After years of decrying government interference.

On the Subject of "Saving":

I always heard it was best to save and then spend. And it is a good thing to be out of debt.

Yet I just read that a very smart financial advisor reports that recently savings are up and spending is down.
And that's a bad thing!!! Because from their perspective, less spending (and less debt) means less profits, further fueling DOW reductions.

And low prices or "Deflation":

The American way is capitalism. If demand goes up, prices go up. If supply is too high, prices go down.
If demand goes down, prices come down, benefiting the consumer. That's the way it is supposed to work.

At least that's what I thought. Wrong again.

Deflation is described by the financial advisor as the process of prices coming down, usually with decreased demand.

And the same financial advisor says "Bad thing!" Again, because lower prices means less profits, further fueling DOW reductions.

On Leading the world:

And the Chinese have their own competitive bailout program now, taking a cue from the U. S. But notice where
they are proposing to spend it. On roads, bridges, and other infrastructure improvement! Helping out with jobs, foreign investment, and the welfare of the citizens.

And where are we, the leaders of the free world, spending it? On bailing out hogs...

Of course there are people who will say this is hogwash. And they are right, as it turns out.

In the current administration hogs get washed, and the rest stay dirty.

In conclusion:

* Greed is good, if one is really greedy. Then it is rewarded.
* Saving is bad. Best to spend all you have and then some.
* Lowering prices is bad.
* And spending for the people with the people's money is bad.

Yes indeed, flimm-flammed again.
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Old 11-24-2008, 06:54 AM   #2
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Your not fishing are you?
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Old 11-24-2008, 07:55 AM   #3
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Needs To Be Said

Hank,

I agree with quite a bit of what you said. Nice end note too.

"Its better to light just one candle than to curse the darkness,

Unless you're blinded by the light..."

As a society we have not looked much for the light lately, I think.
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Old 11-25-2008, 08:00 AM   #4
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Frantic,
No, not fishing... Can't go fishing... Have to work after retirement, because of the economy...
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Old 11-25-2008, 09:50 AM   #5
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I think the sad thing is the person that just called their banker and asked what was in all the new assist programs for him - he's made all his mortgage payments for 25 years - and on time. He was told that the new programs were for those irresponsible folks that need help - it isn't for the responsible folks that have been making their payments on time. How can you possibly reconcile such thinking??? Makes you wonder why you've been so good at making all your payments on time. With such thinking, I'm not sure where this is headed.
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Old 11-25-2008, 02:42 PM   #6
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No Way Out

When bad behavior is rewarded:

Give a kid a piece of candy to shut up.
Give a banker a few billion because he lost the bank on bad loans or risky investments.
We never get rid of the bad behavior.

When our kids went somewhere we let it be known that bad behavior would not be rewarded.
We left a few places because of unacceptable acts early on, never later.

The lucky ones are lining up for handouts early, the back of the line, the taxpayer, the worker, the retiree (Airstreamer), just get the bill.
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Old 11-25-2008, 03:32 PM   #7
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Hank, Start investing any amount of dollars in this crummy economic time. If you are young you too can take advantage of this down turn along with those who don't deserve it. The young smart folks will have a nice nest egg in 20 years and those that got bailed will be back in debt or never get out of it no matter what the time frame.


Jim
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Old 11-25-2008, 06:07 PM   #8
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trophy is right, but if you are 60 like me, all you can do is bend over and take it.
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Old 11-25-2008, 06:59 PM   #9
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Their bite'n now..
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“After all these years the reason I continue to love Thanksgiving.....I still sit at the kids table.”
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Sandra wanted to go to Cleveland on vacation,
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Old 11-25-2008, 09:03 PM   #10
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Quote:
Originally Posted by ROBERT CROSS View Post

Their bite'n now..
This is GOOD bait, of course they're bite'n.
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Old 11-25-2008, 09:26 PM   #11
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This is GOOD bait, of course they're bite'n.

Chum
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“After all these years the reason I continue to love Thanksgiving.....I still sit at the kids table.”
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Sandra wanted to go to Cleveland on vacation,
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Old 11-25-2008, 09:27 PM   #12
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Chum
stink bait
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Old 11-25-2008, 09:38 PM   #13
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stink bait
Yep 'yer right it is stink bait, thats why the fishing's good.
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“After all these years the reason I continue to love Thanksgiving.....I still sit at the kids table.”
RLC

Sandra wanted to go to Cleveland on vacation,
but I’m the Husband, so we went to Cleveland.
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Old 11-25-2008, 09:46 PM   #14
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Yep 'yer right it is stink bait, thats why the fishing's good.
I'm not a fisherman,but, stink bait is for suckers?
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