tag:blogger.com,1999:blog-22657443.post1978948432007166499..comments2023-12-31T03:18:37.403-06:00Comments on "E pur si muove!": There is a God, and Democracy does Work!Lester Hunthttp://www.blogger.com/profile/14746157071827337723noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-22657443.post-45731668938357623652008-09-29T22:18:00.000-05:002008-09-29T22:18:00.000-05:00Believe me, I hear you. I too still have some pos...Believe me, I hear you. I too still have some positions in the stock market. I am not an economist and it would be stupid for me to give financial advice, but I can tell you what I am doing: I have cashed out accounts that I will want to spend within the next year or so. Longer-term investments are still (to some extent) long on the market. <BR/><BR/>In the long run, the market will of course recover. Stock prices are ultimately about real things: real machinery, real patents, real copyrights, etc. The real values are still there and not going anywhere soon. In the long run, people who bet on America growing have always won -- even during the Great Depression.<BR/><BR/>As to the bailout plan, I thought it was based on the wrong theory. Even after the improvements, it still seemed to be about transferring the costs of making bad decision onto the shoulders of people who had made good decisions. The fact that it was too much like a transfer from Main Street to Wall Street was part of the problem. A bigger and deeper problem, for me, was that it was a transfer from the wise to the foolish. No package of fixes should do that. However, we do need a whole array of repairs.Lester Hunthttps://www.blogger.com/profile/14746157071827337723noreply@blogger.comtag:blogger.com,1999:blog-22657443.post-25550241715176263632008-09-29T21:09:00.000-05:002008-09-29T21:09:00.000-05:00I'm having a hard time wrapping my mind around thi...I'm having a hard time wrapping my mind around this problem. I personally hold alot of stock market index fund in my 401K. Is this bailout about helping the American people or the people on wall stret or both? My suspicion is both but there is such a backlash against wall street and this bill is being lead by millionaires Bush, Pelosi and McCain. Will wall streets possible demise lead to a more democratic economy for everyone or are we all about to suffer? All I know is that as a country we are badly extended militarily, our auto co's are screaming for corporate welfare and alot of money has been made through shady investment. My question is will true justice prevail or are we in for a real disaster? Or is this disaster partially made up?Anonymousnoreply@blogger.com