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I think the next 5 years will be a lot like the last 230. The US and hence the American way of life will be on the constant verge of collaspe as seemingly insurmountable problems face us on almost a daily basis. There will be a persistent call from the nay-sayers that life's not fair and the system is broken or flawed, while the over achiever's and those who really make the world go around will push forward solving problems and creating wealth. And, of course, the under achiever's will still be complaining that they are entitled to that wealth and everyone will be blaming everyone else for whatever they feel is wrong with how their lives are turning out.
there was no wealth created and that was why wall street needed a bailout.
your problem is that you assume that people who don't think that bad behavior should be rewarded or that bad behavior should not be tolerated are "underachievers" and "naysayers". i could say that people who are unwilling to look ahead are often going to be "underachievers" long-term.
there was no wealth created and that was why wall street needed a bailout.
your problem is that you assume that people who don't think that bad behavior should be rewarded or that bad behavior should not be tolerated are "underachievers" and "naysayers". i could say that people who are unwilling to look ahead are often going to be "underachievers" long-term.
Sorry Sandy, but there's a lot going on in the world outside of Wall Street so just because some banks needed to be bailed out doesn't mean there wasn't any wealth created anywhere. I know my wealth has grown, for example, even though to read the news you would think that everyone has been wiped out. But, you really missed the point anyway. My post had nothing to do with Wall Street and everything to do with the reality of how it's always been and always will be in a capitalistic society.
Celente, Panarin, and others are predicting a year or two before an Argentina-style collapse.
I sold all my real estate before their crash, cashed out my stocks and investment funds before theirs, and have started living around the world, last spending one year in Thailand.
Am staying liquid and mobile for whatever happens.
Seems every historian and economist and book on the shelves of B&N are predicting the US joining the rest of the Americas in the third world banana republic category. Canada would be dragged down with the US making the Americas entirely third world continents.
.... But, you really missed the point anyway. My post had nothing to do with Wall Street and everything to do with the reality of how it's always been and always will be in a capitalistic society.
Your post was a long set of euphemisms that basically say those who work hard, get ahead and slackers deserve what they get. This was followed by a personal anecdote which is irrelevant to the discussion as it can't be qualified by the others here. So if there was actually a point being made, I, like the party you are answering, don't see it.
Your post was a long set of euphemisms that basically say those who work hard, get ahead and slackers deserve what they get. This was followed by a personal anecdote which is irrelevant to the discussion as it can't be qualified by the others here. So if there was actually a point being made, I, like the party you are answering, don't see it.
Sorry you don't see it. Of course if everyone "got it" then more would succeed and less would fail I suppose.
As for working hard, I'm not so sure thats a pathway to getting ahead. Working hard is a given though thats for sure. I think more important to wealth creation though is the balls to actually do something instead of just thinking or talking about it. It is afterall, those who put their balls out there who create everything for the rest of us. Without them and their guts, vision, ideas, focus, etc., there wouldn't opportunities for those without those skills or abilities or the drive to make it all happen.
As for slackers, of course, you missed this too. There is an entitlement mentality though that does exist where some who work hard, but didn't do any of the things listed above feel they deserve the prize.
And while my personal situation may very well be irrelevant, the point is that ultimately each of our personal situations is what is relevant and if your situation isn't what you want or hoped it would be then do something to fix it instead of blaming "them". But, it's always been the case that many who don't even really play the game will accuse the winners of cheating.
Sorry you don't see it. Of course if everyone "got it" then more would succeed and less would fail I suppose.
As for working hard, I'm not so sure thats a pathway to getting ahead. Working hard is a given though thats for sure. I think more important to wealth creation though is the balls to actually do something instead of just thinking or talking about it. It is afterall, those who put their balls out there who create everything for the rest of us. Without them and their guts, vision, ideas, focus, etc., there wouldn't opportunities for those without those skills or abilities or the drive to make it all happen.
As for slackers, of course, you missed this too. There is an entitlement mentality though that does exist where some who work hard, but didn't do any of the things listed above feel they deserve the prize.
And while my personal situation may very well be irrelevant, the point is that ultimately each of our personal situations is what is relevant and if your situation isn't what you want or hoped it would be then do something to fix it instead of blaming "them". But, it's always been the case that many who don't even really play the game will accuse the winners of cheating.
you always drag your own personal "success" into every response. this isn't about you or your "success". this is about proven documented deception that has occurred to build false wealth. this false wealth was all built on a lie and the lie was perpetuated, sucking innocent americans into someone else's problem. this isn't about "financial losers" objecting to the fraud, rather it is about american TAXPAYING citizens objecting to the fraud losses being dumped on them, as well as onto future generations of working americans.
their hard work is not going to be rewarded because it will be spent bailing out the fraudsters, unless our currency collapses first.
you always drag your own personal "success" into every response. this isn't about you or your "success". this is about proven documented deception that has occurred to build false wealth. this false wealth was all built on a lie and the lie was perpetuated, sucking innocent americans into someone else's problem. this isn't about "financial losers" objecting to the fraud, rather it is about american TAXPAYING citizens objecting to the fraud losses being dumped on them, as well as onto future generations of working americans.
their hard work is not going to be rewarded because it will be spent bailing out the fraudsters, unless our currency collapses first.
I thought this topic was about the next 5 years, not about the banking system.
...own personal "success" into every response. ...
Indeed. This is the problem with using a personal anecdote for arguing a point on the internet. It can't be examined or disputed and thus often given as absolute fact as to why the party is correct. IMO, these always show up when the party is on very shaky ground and doesn't have anything that can withstand critical examination.
The poll is about the next 5 years. Some folks will be able to play off a decline and profit.
Isn't that what happened during the Great Depression ?
Some people are not afraid to act ahead of time and not wait for the herd to catch up.
Just look at the 401K fiasco...down 40-50% because "no one saw it coming". A few voices did and those that listened lost nothing as they acted on it.
If you think the next 5 years will bring decline, then plan for it now. Get your life (financial, emotional, physical) in order for what you think may be coming.
You can only take care of YOU. It's fine to have opinions of what "they" did but in the end.."they" will not save you.
Not to boast here..but I got out of the market and liquidated equity holdings in 2007. Roubini was a wacko but other indicators I follow were proving him true so I got out. I'm an investor, not a trader and this is no investment market right now. When the time is right I will invest again and I'm quite happy with my current "preservation OF capital" strategy.
Times have changed and we need to change with them. Don't sit back and wait for the good times to return..those good times were not real; that was not the norm. Study where you think we are headed and make your plans accordingly. Having a Plan B also helps.
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