If hell exists and if some are fearful of going to be dammed in eternity, it seems that it misses the point with some of the “experts” that distribute ideas via the talking tube.
Let’s start by the outright liars of 2008, who happen to be the same of 2007 and I am confident they will be the same of 2009.
First the officials, those who are running the show:
The grand prize of misrepresentation and outright lies goes to Fed Chief Greenspan. It took a Congressional hearing for him to accept error. His following act Chief Bernanke is not doing better.
Chief Bernanke blunders with the economic status of the country and continued assertions of "everything is fine" until he got tomatoes thrown at him and had Cramer –also a sinner- screaming like a maniac, it was too late for the economic meltdown and actions to be put in place.
The Secretaries of the Treasury in unison were also big time sinners. The prize has to go back to the pernicious views of Robert Rubin who castrated any regulation with the help of the Senators from New York Schumer and Clinton. This triumvirate set the political doing for the present fiasco.
Secretary Paulson needs to get the prize for "idiocy in economics and purposeful erroneous public statements". The Secretary got caught in so many blunders that had to beg the Chinese and the Saudi clan every other week for a bail-out of the treasury debt, while telling everybody and Congress that he did not see any sign of distress in the economy. While the Secretary had his counter part saying the opposite! Bloomberg news found Mr. Paulson irrational talks funny; to the extent of creating headlines that were incomprehensible.
To the guy with the sign “the buck stops here”, well, no comment, I leave that one to your own assessment.
Big air heads with fancy titles in the talking tube:
Again the “you better ignore him or else” prize, for the past decade and for the next decade goes to the king of misinformation and intention to misrepresent the reality goes to: Lawrence Kudlow of MSNBC.
I am really sad for Kudlow and for having to live a life so full of air and deception to accumulate personal wealth at the expense of the less powerful.
Kudlow is the ultimate insider, whom benefits from others misinformation, he shows it every night. The power of deception in Kudlow’s TV show has no parallel.
Be careful about following Kudlow’s or his buddies forecasts, the probability of been is wrong is almost assured, not because they are not trained or uneducated, but because they are demagogues above anything else.
Cramer is the next in winning the “be careful how you interpret me” prize.
I like Cramer rants, he is sometimes too darn right that one has to wonder if it is his sanity or insanity talking.
The danger with listening to Cramer is that he needs to run a TV show and telling the truth will not gain him access to the people ne needs to get his business going. Cramer has the problem of "the happy herd" mentality, if Kudlow is goldilocks economy, Cramer is "there is bull market somewhere" . Cramer is is afraid the herd will disband if he cries wolf. If things are bad Cramer has the tendency to say is ok to keep saying something even if he is wrong. Think of the show as entertainment with the same purpose of any other TV show, that is to get you watching not matter the content.
To start the New Year after all the bail-outs etc., if you think this is not going to affect you, just wait and see.
So worry a lot about your own comfort level, and start to question how much you have been put to task with your future, and ask of your elected official’s questions, you might find the answers beneficial to have a better plan in 2010.
Now my personal and two best wealth building ideas of the next years:
First listen to a few honest people like Profesor Nouriel Roubini, economist Peter Shiff’s, and the foudner of Vanguard funds John C. Bogel forecasts and opinions. Over the years this trio are shown to be honest and truthful.
Second, be aware of all you buy, put your money to work with america. STrategy is to buy only if it is all “Made in the US” and your all staples should come from less than 100 miles radius from where you live.
If by the end of 2009 you have not save money versus 2008 and help your fellow citizens, throw me a note and tell me why you think it did not work.
Prosperous 2009 !!!!
No comments:
Post a Comment