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Who's to Blame?
January 8, 2009 - Ben Feldman
The current financial quagmire, that we are finding insufferable, has put many of us in a frozen position, like a deer caught with the headlights aimed at its eyes. Many of us are doing nothing with our assets, waiting for the bell to ring that signifies the new dawn is here. Well, we could wait and wait and, you know the rest. While you wait ask yourself this question. Did my broker or advisor, whoever is the lord and protector of my portfolio, hint or intimate or suggest or send smoke signals that this financial bubble, this insane mania which has buckled our finances, was imminent? If not, why am I still with him? Didn't any of the guru's see it coming? If not why not? I knew housing values were in the land of the ridiculous but what were the smart money guys doing? The MBA brain trust guys? It just proves the unpredictable is still the unpredictable. So what do you do now? Go to safety if you are worried and near retirement. If you are young risk is still less harmful to you, which doesn't make you invulnerable but you can ride the wave longer. So where is the country heading? Inflation. The sad fact is the Fed is pouring money into the patient which is like giving the patient poison. More inflation means higher prices. The problem we have is that the political leaders are economic ignoramus'. The Democrats and the Republicans are the same. Do you see the government shrinking? Neither party has reduced the size of government. The last courageous President was Grover Cleveland who served two terms in the late 19th century. He didn't like the way politicians plundered the treasury. What would Grover say now?
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