What the British MEP thinks of the EU
YouTube - 'The Euro Game Is Up! Just who the hell do you think you are?' - Nigel Farage MEP
Tuesday, November 30, 2010
Monday, November 29, 2010
Ireland is Bankrupt....a comment letter from someone from Ireland
This is a letter from someone from Ireland....I am sure there will letters, thoughts and comments from many others there like this from Ireland and then from the rest of Europe. People are disappointed with the the lack of financial responsiblity and respect that the political and business leaders have had. Yet the people voted for the easy way...but the easy way does not last long.
*********
Herman Van Rompuy, President of the European Council, warned that if Ireland didn't apply for an EU/ECB/IMF bailout for its failed banking system, its soaring budget deficit and its colossal national debt, then the European single currency might collapse [the bond markets have already panicked and cashed in], and if the International markets lost confidence in the Euro, then the dissolution of the Union would quickly follow. He said the future of the Eurozone depended on stemming the tide of market distrust caused by the tanking Irish economy. He feared contagion, that Portugal and Italy and Spain would soon follow.
Ireland is not only insolvent because it has no liquidity, no way of meeting its debts. The government decided to link the economic future of the country to a failed banking system and now the two are inextricably intertwined. No amount of raised taxes can bail out the banks and still pay the day-to-day running expenses of our welfare state. The famed 'Celtic Tiger' boom economy was always a high-risk, dangerous fiction. Someone dubbed Ireland the 'Wild West of Economics'. Our illusory wealth was tied to a property bubble that was as unsustainable as it vacuous, and all the money was borrowed, primarily from German savers. We were hooked on credit like it was crack cocaine. We binged but never purged and we stayed high to postpone the inevitable hangover. Everybody was in cahoots, from corrupt local governments, driving through emergency rezoning laws, to rogue bankers financing the criminal inflation of developments and shoveling billions to builders, to newspapers cashing in on their property advertising to regulators asleep at the wheel. Our mafia don cum Taoiseach, Bertie 'Gombeen-Man' Ahern, invited critics of the system to commit suicide. Nobody left the orgy. Nobody wanted to leave. Planet Hollywood had finally come to Planet Ireland!
But inevitably the whole house of cards would come crashing down, and Bertie [who tendered his timely resignation just before the collapse] soon got his wish as the suicide rate started to climb to the highest in Europe. The government panicked. The Minister for Finance, a barrister by profession, got a crash course in national and global economics. He learned about markets and budgets and bonds and gilts on the job, on a need-to-know basis. He instituted an abstraction called N.A.M.A. http://www.nama.ie/ , The National Assets Management Agency, whose remit basically is to buy up all the debt and properties left unfinished and unpaid for by the construction moguls [developers & builders] and their bankers, to transfer them to a national trust, cue Irish tax-payer, as if we owned them, or even wanted them, or could avail of them in any way, and to pay off the outstanding loans. All over Ireland, in every town and village, are these unfinished ghost estates. These now belong and do not belong to the Irish taxpayer. This offense was compounded by the decision to bail out the very banks [like Anglo Irish and Irish Permanent, really, all of them] that got us into the mess. The banks were hemorrhaging money [and still are] and the government was on hand to provide on-the-spot triage, a botched stitch-up job if there ever was one, a cluster-fuck of cosmic proportions.
The government, Fianna Fáil in coalition with The Greens and a few independents, lied through their teeth and kept telling the Irish taxpayer that exports were up, that the revenue would come in once the austerity budget was passed, once the 4-year plan was unveiled and ratified and that no bail-out would be necessary. Reduce public spending, they told us, tighten our belts; cut the public sector; Trim this, give a haircut to that and all would be hunky dory. Well, the same shower of gangsters who gave the green light to sub-prime lenders and hedge-fund speculators-gamblers went to the ECB/IMF with cap in hand this week and begged for a bailout. Then they came on TeeVee to announce the done-deal. Ireland will borrow over 85 billion from its partners in the EU and the IMF and, depending on the repayment interest, 5 -7%, we could be paying back upwards of 4 billion a year. That's about 1/4 of the Tax intake. The debt is completely beyond our means as Constantin Gurdjiev, http://trueeconomics.blogspot.com/ and David McWilliams http://www.davidmcwilliams.ie/category/articles/ are trying to point out.
Ireland is used to erosions of its sovereignty ever since we joined the European Union. We, we had our first referendum on the Lisbon Treaty in June 2008 and it was defeated. Sarkozy told our Taoiseach that he delivered the wrong result and to go back to the people and get the right result next time, so that's exactly what happened and so in April 2009 the treaty was finally passed in Ireland. So much for Irish sovereignty. Our membership of the single currency in 1998, as part of our EU obligations under the Maastricht Treaty, further compromised that independence. Now ceding control to the IMF -- to save the Eurozone -- is the final nail in the coffin of that putative myth known as Irish sovereignty. We gave away so glibly what we fought so hard to achieve.
Was it for this the wild geese spread
The grey wing upon every tide;
For this that all that blood was shed,
For this Edward Fitzgerald died,
And Robert Emmet and Wolfe Tone,
All that delirium of the brave?
Romantic Ireland’s dead and gone,
It’s with O’Leary in the grave.
I'm afraid the verdict isn't very flattering. Ireland is indeed a banana republic, a land full of cronyism, wink and nod business deals, insider trading, nepotism, feather your own nest and forget about the next guy, take all you can as quickly as you can no matter who gets hurt, ostracize the whistle blowers and critics, advance number one every time and keep the circles closed. There's no sense of civitas here, no notion of self-sacrifice, no pride in history, culture, nation; it's all up for grabs to the highest bidder. It doesn't matter that we struggled for 800 years to achieve independence, that millions died in the process; it doesn't matter that the folk memory of harsher times is still very much alive; none of this mattered to the few generations that have dismantled our country institution by institution and thrown the Irish people to the wolves, the bean counters in the IMF who will now control our destiny. Our political system is in ruins. The people have lost all faith in their elected representatives. They feel that welfare for the wealthy, bailouts for crooked corporations and rewards instead of punishments for embezzlement and thievery is the rule of the land. And what the British and the world said about us, all the stereotypes, seem to be true after all and maybe were always true: we were never equipped to govern ourselves, we're a nation of drunks, peasants, irresponsible wasters and chancers addicted to violence and quick fixes. Our independent republic is less than a century old and already it's in smithereens -- we're in the gutter and being dictated to by the UK, Germany, France and the IMF. Mr. Ajai Chopra is our new vice-chancellor, our new Taoiseach, our new overlord and big boss and we've just been recolonized, first by our own brood of inbred gangsters and now by international bankers. We didn't deserve any better. It's our own damn fault.
By 'we' I mean the select few that got our country into the financial mess. But the blame game serves no useful purpose now: we're all screwed, not equally, mind you [but when are people ever screwed equally?], and the nation has no option now but to drive through a draconian austerity budget and then take the bailout and let our affairs be run by outsiders. Could we say 'Screw You' to the Euro and go back to the punt? Could we say 'Screw You' to Germany and all our debtors? Could we say ' Screw You' to the EU and let the Eurozone fall? Our politicians tell us we have no choice. It would be therapeutic to tell the lot of them to piss off and to return to hunter-gatherer status but how feasible is that? Kids think beef patties are really square and grow on trees. They wouldn't know how to pluck a chicken let alone sow and reap a harvest. Everything's in the grocery store and they're too busy playing play station, twittering and gabbing on Facebook to worry about the right time of year to plant a tuber. The EU is run by neo-liberalist economic policies and if Ireland doesn't play ball the multi-nationals will up and relocate to cheaper labour markets. They're already doing just that. They're encouraged to do it by Merkel and Sarkozy and Cameron.
And then there's always the fear that this crisis will inaugurate excessive nationalism, that the Provos will exploit civil unrest and lack of confidence in the government to push their demented and deranged United Ireland bollocks. Gerry Adams has already announced his candidacy for a seat in Co. Louth which, if elected, will find him in Dáil Éireann. This would be disastrous for Ireland. Ireland doesn't need Sinn Féin's brand of patriotism. People should remember Gerry Adams' devolvement announcement for the Good Friday Agreement: He said he was now ready to pursue through the political process the same agenda he failed to achieve through armed struggle, that is, a United Ireland. If Sinn Féin ever gets a foothold in Irish politics there will be a return to the rule of the gun; if his bunch of murderous, terrorist thugs are ever allowed to exploit the political vacuum in Ireland there will be a bloodbath. Adams has always preached against the EU and partnership with Britain. He's still the same dickweed that did time in Long Kesh and had Jean McConville a widowed mother of 11 children murdered because she administered last rites to a British soldier who died on her footstep. His brand of fascistic nationalism is no good for Ireland. We must reject him and what he stands for.
As a nation we're a joke, a laughing stock, and now it's time to become a colony of the IMF under the direction of the same cowboy outfit that brought peace and prosperity to Argentina and Iceland. O Joy, I just can't wait. We're used to it. It feels good. And this time we walked right into it. Heck, we can always get drunk afterwards, have a rare old session and weep and wail over our Fenian dead.
Custerluck
Mr. Crawford's letter of despair could just as easily be authored by anyone in the UK, US or France. We have all reached the point where no amount of twisting and turning is going to avoid the noose of poverty. We have all taken the easy way out, which in retrospect will become the most difficult way.
Those that survive will indeed learn to "pluck a chicken" or "reap a harvest". They will also have to learn how to grow a garden, how to preserve foodstuffs and how to repair a tire. Unfortunately, they also may have to learn how to handle a gun.
Other than the above, I have no advice except that of Margaret Thatcher's comment that socialism ends when they run out of other people's money.
*********
Herman Van Rompuy, President of the European Council, warned that if Ireland didn't apply for an EU/ECB/IMF bailout for its failed banking system, its soaring budget deficit and its colossal national debt, then the European single currency might collapse [the bond markets have already panicked and cashed in], and if the International markets lost confidence in the Euro, then the dissolution of the Union would quickly follow. He said the future of the Eurozone depended on stemming the tide of market distrust caused by the tanking Irish economy. He feared contagion, that Portugal and Italy and Spain would soon follow.
Ireland is not only insolvent because it has no liquidity, no way of meeting its debts. The government decided to link the economic future of the country to a failed banking system and now the two are inextricably intertwined. No amount of raised taxes can bail out the banks and still pay the day-to-day running expenses of our welfare state. The famed 'Celtic Tiger' boom economy was always a high-risk, dangerous fiction. Someone dubbed Ireland the 'Wild West of Economics'. Our illusory wealth was tied to a property bubble that was as unsustainable as it vacuous, and all the money was borrowed, primarily from German savers. We were hooked on credit like it was crack cocaine. We binged but never purged and we stayed high to postpone the inevitable hangover. Everybody was in cahoots, from corrupt local governments, driving through emergency rezoning laws, to rogue bankers financing the criminal inflation of developments and shoveling billions to builders, to newspapers cashing in on their property advertising to regulators asleep at the wheel. Our mafia don cum Taoiseach, Bertie 'Gombeen-Man' Ahern, invited critics of the system to commit suicide. Nobody left the orgy. Nobody wanted to leave. Planet Hollywood had finally come to Planet Ireland!
But inevitably the whole house of cards would come crashing down, and Bertie [who tendered his timely resignation just before the collapse] soon got his wish as the suicide rate started to climb to the highest in Europe. The government panicked. The Minister for Finance, a barrister by profession, got a crash course in national and global economics. He learned about markets and budgets and bonds and gilts on the job, on a need-to-know basis. He instituted an abstraction called N.A.M.A. http://www.nama.ie/ , The National Assets Management Agency, whose remit basically is to buy up all the debt and properties left unfinished and unpaid for by the construction moguls [developers & builders] and their bankers, to transfer them to a national trust, cue Irish tax-payer, as if we owned them, or even wanted them, or could avail of them in any way, and to pay off the outstanding loans. All over Ireland, in every town and village, are these unfinished ghost estates. These now belong and do not belong to the Irish taxpayer. This offense was compounded by the decision to bail out the very banks [like Anglo Irish and Irish Permanent, really, all of them] that got us into the mess. The banks were hemorrhaging money [and still are] and the government was on hand to provide on-the-spot triage, a botched stitch-up job if there ever was one, a cluster-fuck of cosmic proportions.
The government, Fianna Fáil in coalition with The Greens and a few independents, lied through their teeth and kept telling the Irish taxpayer that exports were up, that the revenue would come in once the austerity budget was passed, once the 4-year plan was unveiled and ratified and that no bail-out would be necessary. Reduce public spending, they told us, tighten our belts; cut the public sector; Trim this, give a haircut to that and all would be hunky dory. Well, the same shower of gangsters who gave the green light to sub-prime lenders and hedge-fund speculators-gamblers went to the ECB/IMF with cap in hand this week and begged for a bailout. Then they came on TeeVee to announce the done-deal. Ireland will borrow over 85 billion from its partners in the EU and the IMF and, depending on the repayment interest, 5 -7%, we could be paying back upwards of 4 billion a year. That's about 1/4 of the Tax intake. The debt is completely beyond our means as Constantin Gurdjiev, http://trueeconomics.blogspot.com/ and David McWilliams http://www.davidmcwilliams.ie/category/articles/ are trying to point out.
Ireland is used to erosions of its sovereignty ever since we joined the European Union. We, we had our first referendum on the Lisbon Treaty in June 2008 and it was defeated. Sarkozy told our Taoiseach that he delivered the wrong result and to go back to the people and get the right result next time, so that's exactly what happened and so in April 2009 the treaty was finally passed in Ireland. So much for Irish sovereignty. Our membership of the single currency in 1998, as part of our EU obligations under the Maastricht Treaty, further compromised that independence. Now ceding control to the IMF -- to save the Eurozone -- is the final nail in the coffin of that putative myth known as Irish sovereignty. We gave away so glibly what we fought so hard to achieve.
Was it for this the wild geese spread
The grey wing upon every tide;
For this that all that blood was shed,
For this Edward Fitzgerald died,
And Robert Emmet and Wolfe Tone,
All that delirium of the brave?
Romantic Ireland’s dead and gone,
It’s with O’Leary in the grave.
I'm afraid the verdict isn't very flattering. Ireland is indeed a banana republic, a land full of cronyism, wink and nod business deals, insider trading, nepotism, feather your own nest and forget about the next guy, take all you can as quickly as you can no matter who gets hurt, ostracize the whistle blowers and critics, advance number one every time and keep the circles closed. There's no sense of civitas here, no notion of self-sacrifice, no pride in history, culture, nation; it's all up for grabs to the highest bidder. It doesn't matter that we struggled for 800 years to achieve independence, that millions died in the process; it doesn't matter that the folk memory of harsher times is still very much alive; none of this mattered to the few generations that have dismantled our country institution by institution and thrown the Irish people to the wolves, the bean counters in the IMF who will now control our destiny. Our political system is in ruins. The people have lost all faith in their elected representatives. They feel that welfare for the wealthy, bailouts for crooked corporations and rewards instead of punishments for embezzlement and thievery is the rule of the land. And what the British and the world said about us, all the stereotypes, seem to be true after all and maybe were always true: we were never equipped to govern ourselves, we're a nation of drunks, peasants, irresponsible wasters and chancers addicted to violence and quick fixes. Our independent republic is less than a century old and already it's in smithereens -- we're in the gutter and being dictated to by the UK, Germany, France and the IMF. Mr. Ajai Chopra is our new vice-chancellor, our new Taoiseach, our new overlord and big boss and we've just been recolonized, first by our own brood of inbred gangsters and now by international bankers. We didn't deserve any better. It's our own damn fault.
By 'we' I mean the select few that got our country into the financial mess. But the blame game serves no useful purpose now: we're all screwed, not equally, mind you [but when are people ever screwed equally?], and the nation has no option now but to drive through a draconian austerity budget and then take the bailout and let our affairs be run by outsiders. Could we say 'Screw You' to the Euro and go back to the punt? Could we say 'Screw You' to Germany and all our debtors? Could we say ' Screw You' to the EU and let the Eurozone fall? Our politicians tell us we have no choice. It would be therapeutic to tell the lot of them to piss off and to return to hunter-gatherer status but how feasible is that? Kids think beef patties are really square and grow on trees. They wouldn't know how to pluck a chicken let alone sow and reap a harvest. Everything's in the grocery store and they're too busy playing play station, twittering and gabbing on Facebook to worry about the right time of year to plant a tuber. The EU is run by neo-liberalist economic policies and if Ireland doesn't play ball the multi-nationals will up and relocate to cheaper labour markets. They're already doing just that. They're encouraged to do it by Merkel and Sarkozy and Cameron.
And then there's always the fear that this crisis will inaugurate excessive nationalism, that the Provos will exploit civil unrest and lack of confidence in the government to push their demented and deranged United Ireland bollocks. Gerry Adams has already announced his candidacy for a seat in Co. Louth which, if elected, will find him in Dáil Éireann. This would be disastrous for Ireland. Ireland doesn't need Sinn Féin's brand of patriotism. People should remember Gerry Adams' devolvement announcement for the Good Friday Agreement: He said he was now ready to pursue through the political process the same agenda he failed to achieve through armed struggle, that is, a United Ireland. If Sinn Féin ever gets a foothold in Irish politics there will be a return to the rule of the gun; if his bunch of murderous, terrorist thugs are ever allowed to exploit the political vacuum in Ireland there will be a bloodbath. Adams has always preached against the EU and partnership with Britain. He's still the same dickweed that did time in Long Kesh and had Jean McConville a widowed mother of 11 children murdered because she administered last rites to a British soldier who died on her footstep. His brand of fascistic nationalism is no good for Ireland. We must reject him and what he stands for.
As a nation we're a joke, a laughing stock, and now it's time to become a colony of the IMF under the direction of the same cowboy outfit that brought peace and prosperity to Argentina and Iceland. O Joy, I just can't wait. We're used to it. It feels good. And this time we walked right into it. Heck, we can always get drunk afterwards, have a rare old session and weep and wail over our Fenian dead.
Custerluck
Mr. Crawford's letter of despair could just as easily be authored by anyone in the UK, US or France. We have all reached the point where no amount of twisting and turning is going to avoid the noose of poverty. We have all taken the easy way out, which in retrospect will become the most difficult way.
Those that survive will indeed learn to "pluck a chicken" or "reap a harvest". They will also have to learn how to grow a garden, how to preserve foodstuffs and how to repair a tire. Unfortunately, they also may have to learn how to handle a gun.
Other than the above, I have no advice except that of Margaret Thatcher's comment that socialism ends when they run out of other people's money.
Saturday, November 27, 2010
Thursday, November 25, 2010
Wednesday, November 24, 2010
Gloom, anger spreads as European economies teeter
People in Europe do not like it and do not understand it.
The governments have been deficit spending for years and as well guaranteed debts of banks which have been reckless.
The credit card limits are being hit. US will be next.
Then what?
And we think mankind can understand and manage economics? Look at Germany after WWII, there was two very different systems with same people. One was sucessful the other not.
The unseen hand rules.
Gloom, anger spreads as European economies teeter - Yahoo! News
The governments have been deficit spending for years and as well guaranteed debts of banks which have been reckless.
The credit card limits are being hit. US will be next.
Then what?
And we think mankind can understand and manage economics? Look at Germany after WWII, there was two very different systems with same people. One was sucessful the other not.
The unseen hand rules.
Gloom, anger spreads as European economies teeter - Yahoo! News
Tuesday, November 23, 2010
The Greatest of All Ponzi Schemes
This is part of the reason that the economy is in a mess; investment banks, misallocation of resources, government funding (central planning) and greed.
The Greatest of All Ponzi Schemes Oil Price.com
The Greatest of All Ponzi Schemes Oil Price.com
People Who Resist Authority, Stand Up for Privacy, Could Be Classified As Mentally Ill | Network World
Hey, don't they do this is totalitarian systems. Could it be coming?
Privacy and Security Fanatic: People Who Resist Authority, Stand Up for Privacy, Could Be Classified As Mentally Ill Network World
Privacy and Security Fanatic: People Who Resist Authority, Stand Up for Privacy, Could Be Classified As Mentally Ill Network World
Time for Mortgage Lenders to Consider a Jubilee?
Biblical principles getting more consideration. The year of Jubilee, the economy, the people need it. Next time, let's plan for it. Smarter economics. Compare that to gee we really don't know what works or why.
Time for Mortgage Lenders to Consider a Jubilee? — Rick's Picks#more-28569
Time for Mortgage Lenders to Consider a Jubilee? — Rick's Picks#more-28569
Monday, November 22, 2010
A Full Body Scan of American Corruption
Body Scanners being sold by former Home Land Security guy. They really don't work, but he is getting paid very well due to his connections. America's form of corruption that the public buys.
Gonzalo Lira: A Full Body Scan of American Corruption
Gonzalo Lira: A Full Body Scan of American Corruption
UN IPCC Official Admits 'We Redistribute World's Wealth By Climate Policy'
Climate change is part of the control managment tool of the misguided globalist and progressives. The public do not get the facts but story bits.
GetLiberty.org >> NewsBusters: UN IPCC Official Admits 'We Redistribute World's Wealth By Climate Policy'
GetLiberty.org >> NewsBusters: UN IPCC Official Admits 'We Redistribute World's Wealth By Climate Policy'
Sunday, November 21, 2010
New Republican Leadership or Politics as Usual
Very disappointing, but not surprised. Life continues as it was, in its troubled destructive state.
New Republican Leadership or Politics as Usual - Home - theboldpursuit.com
New Republican Leadership or Politics as Usual - Home - theboldpursuit.com
Thursday, November 18, 2010
Dear Uncle Sucker . . . | The Big Picture
Warren Buffett's letter thanking Uncle Sam for the protection / buy out.
Dear Uncle Sucker . . . The Big Picture
Dear Uncle Sucker . . . The Big Picture
Wednesday, November 17, 2010
Tuesday, November 16, 2010
Soros: Conditions 'Pretty Perfect' for Gold to Rise
Not that I think what George does is always good, but he is worth a listen.
Soros: Conditions 'Pretty Perfect' for Gold to Rise
Soros: Conditions 'Pretty Perfect' for Gold to Rise
Monday, November 15, 2010
"The Fed's Business Is Price Instability"
The US Fed is out of control. Ben does not understand risk and he is taking very risky position.
Nassim Taleb: "The Fed's Business Is Price Instability" zero hedge
Nassim Taleb: "The Fed's Business Is Price Instability" zero hedge
Portugal "Euro Zone Exit"?
Portugal may have to leave the Euro. It would not be alone.
Mish's Global Economic Trend Analysis: Portugal Foreign Affairs Minister Threatens "Euro Zone Exit"
Mish's Global Economic Trend Analysis: Portugal Foreign Affairs Minister Threatens "Euro Zone Exit"
TREASURY YIELDS NOW HIGHER THAN BEFORE JACKSON HOLE
Printing money will raise interest rates. It has started.
TREASURY YIELDS NOW HIGHER THAN BEFORE JACKSON HOLE PRAGMATIC CAPITALISM
TREASURY YIELDS NOW HIGHER THAN BEFORE JACKSON HOLE PRAGMATIC CAPITALISM
TSA Threatens $10,000 Fine and Civil Court For Man Who Refused Scan and Groping
This is not right
Today, I saw some smiling faces today as a guy escorted a well built woman to the body scanning machine.
SHOWDOWN: TSA Threatens $10,000 Fine and Civil Court For Man Who Refused Scan and Groping
Today, I saw some smiling faces today as a guy escorted a well built woman to the body scanning machine.
SHOWDOWN: TSA Threatens $10,000 Fine and Civil Court For Man Who Refused Scan and Groping
Open Letter to Ben Bernanke
Other economist, investment managers and finance folks understand it, but Ben doesn't. Scary, real scary what this guy is doing.
Open Letter to Ben Bernanke - Real Time Economics - WSJ
Open Letter to Ben Bernanke - Real Time Economics - WSJ
Sunday, November 14, 2010
Wednesday, November 10, 2010
George Sores - The Puppet Master
From Van Jones - The Strategy is:
Top Down
Bottom Up
Inside Out
Top down is in place. Now it is your turn - bottom up.
I think we should be concerned. Very concerned.
Glenn Beck: The Puppet Master - Glenn Beck - FOXNews.com
Top Down
Bottom Up
Inside Out
Top down is in place. Now it is your turn - bottom up.
I think we should be concerned. Very concerned.
Glenn Beck: The Puppet Master - Glenn Beck - FOXNews.com
Friday, November 5, 2010
Thursday, November 4, 2010
Why Your Adviser Is Scared to Set You Straight - WSJ.com
I agree. My investment advisor costs me over six figures within short 4 months. He was good for a period of time for about a year, careful with a part of our portfolio. Gained my trust and confidence. Kept us out of the initial down turn in 2008. In 2009 he was then given our entire portfolio to manage. With the subsequent down turn in 2009 he did not manage that very well. Became very emotional, did not have stops (unbelievable) and did not follow the markets. He scared me big time. He was lost. As result, in short four months, I had to pull the accounts, and we were down over six figures. Big lesson learned. The investor advisors are only human and they are emotional beings. In addition, to the pain, the guy charged 1% management fee.
I agree with the article, one is better managing their finances than an advisor.
The Intelligent Investor: Why Your Adviser Is Scared to Set You Straight - WSJ.com
I agree with the article, one is better managing their finances than an advisor.
The Intelligent Investor: Why Your Adviser Is Scared to Set You Straight - WSJ.com
Wednesday, November 3, 2010
10 Signs The U.S. is Becoming a Third World Country
US Fed announced today further devaluation and its dollar by printing more dollars. US is acting like many 3rd world nation. Risky bettors, lottery players they are, or just plain losers.
Activist Post: 10 Signs The U.S. is Becoming a Third World Country
Activist Post: 10 Signs The U.S. is Becoming a Third World Country
Fed takes bold, risky step to bolster economy
Disappointing action by the Fed. They say it is risky and don't know if printing more paper dollars will work. Of course it will not. Any country that prints money to solve its trade and or fiscal problems or irresponsibility had demonstrated that it does not work. Ben is not in the real world and he should not be in charge of the Fed. Dangerous guy that is running lose.
Fed takes bold, risky step to bolster economy - Yahoo! News
Fed takes bold, risky step to bolster economy - Yahoo! News
Tuesday, November 2, 2010
Monday, November 1, 2010
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