posted on Jan, 30 2008 @ 09:09 PM
Ironically, I make my money by taking peoples money from the banks and putting them with the corporation I work for. We offer better flexibility,
probate-deferred on death, tax deferred on death and generally a higher interest then banks.. but if the rate keeps on lowering, we loose, the people
loose, and the banks win.
It should also be noted, that a lot of people.. and I mean A LOT of people.. are loosing their pensions, their money they thought they where saving
for retirement.. older people refuse to get out of the markets where they don't belong to begin with (talking middle and lower middle class) ..
The stock market does NOT reflect whether we are in a recession or not.. the stocks can keep going through the roof.. I don't care, because I don't
have money in stocks, and neither does a vast majority of Americans (even less with significant amounts to make a difference) .. banks may be saved,
stocks may rise.. but wages will not, spending will slow, people will suffer and inflation will rise far faster then pay increases.
Let the markets fluctuate, let them go up and down.
America is ALREADY in a recession.