Wednesday, September 17, 2008
Smart InvestmentsI admit it, I am not the smartest investor. My problem is that I don't know when to sell. In the late 90's when I owned Microsoft, Cisco, and AOL, I should have sold them before the tech bubble burst. I'm all about buying the hottest stocks, and thrilled when I watch them skyrocket, but then when they start to decline, I assure myself it's just a momentary market correction, and the companies will resume the upward incline next week. This year, after a good beginning in some agriculture stocks, and some corn commodities, I am pretty much back at square one, having lost all of the gains I had at the beginning of the year.
And no closer to early retirement.
This week, as a taxpayer, I have acquired a few stocks that I would never have bought voluntarily. In this environment, only the truly stupid would have bought Fannie and Freddie, and then AIG. But we all, as tax-payers, now own all of the billions of bad debt of these financial institutions, we have essentially, without our consent, been forced into a really bad move. I admit freely, that I am not so smart when it comes to money, but I pay people like Ben Bernanke, and Henry Paulsen to know a really crappy investment when they see one.
And you know what really sucks? The Fed had to borrow the money to help AIG from the Treasury!!!!
So is the Fed like ....... out of money?
Business is bad everywhere. For me personally, sales are down more than 10 percent from last year, and I sell food, one of the things that people absolutely have to buy in order to live. People are choosing Cheetos over vegetables, Snickers bars instead of a healthy grain salad, and they are eating less. My income is dependant on Americans eating, and I can see it dwindling. Fat Americans are good for my business.
Maybe all of these economic woes will push my customers to the brink of a food binge, and I can recoup some of my losses for the year.
The shit is truly hitting the fan.
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No subject for immortal verse
That we who lived by honest dreams
Defend the bad against the worse."
-- Cecil Day-Lewis from Where Are The War Poets?
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