Saturday, November 22, 2008

Thoughts and Stuff...

I received my 401K statement in the mail yesterday. Boy, was that a mistake. Down 47% from last quarter. Looking at the ye old stock report was a different story, only down 38% from where I purchased. Oh, wait, that is even worse. :P

I realize that everyone is talking about the economy or what their stock portfolio is doing (or not doing), but I just wanted to weigh in my thoughts and observations. This may be the point in history that we lose our 1st world status. Here is why.. Lets begin with the financial bailout of 700 billion. As we have seen, and I said before, what a stupid move by our government. I site AIG as my example. Here is a financial institution that receives their handout, the executive staff goes on a retreat and then comes back to congress and wants more money. I am sorry, but they go on a retreat.. WTF!!! The banks and financial institutions that received the money are not leading it out, people are loosing their homes to the banks, and the stock market went from around 13K to just below 8K. This is after a 700 Billion dollar bailout. Now, the car makers are wanting their handout. I am sorry, but I thought that the original bailout was a stupid idea, this one is just idiotic. What are you thinking??!!?? They got themselves into this mess, let them get themselves out. Oh, wait... They are helping out their buddies from the stupid mistakes they made.

I have a house payment, a car payment, credit cards, student loans, and private school tuition for my kids. Both my wife and I work and have been financially responsible. Even though, we could get financing for the five hundred thousand dollar house and the BMW. We did not want to over-extend ourselves, so, I drive a 12yr old truck. My point is, there is no Bailout for me or any of us, why should their be one for a company. If they did not see this economic issue 6 months ago, they are either too stupid or too arrogant and should suffer the consequences. They should all be terminated. Let them look for a job or better yet, let them flip burgers. They need a lesson in humility and how the real world works.

The US sneezes and the world catches a cold.

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