Originally Posted by walkinwood
Are you kidding? Who do you think runs wall street, the banks and the auto industry who have run this economy into the ground?
I suggest that this thread does not belong in this forum.
Wow I figured out how to use the quote thingy
Walkinwood I have to totally agree with you. You hit the nail directly on the head. My concern is that as a nation we may have replaced cultural norms that have led to unprecedented liberty and wealth with cultural norms that have been shown to result in poorer out comes. The effects are very very pervasive . It not only means that people have abandoned true telling so that they can get on welfare but it means that the people who are leading the country and our industry are doing the same thing. The effect of that is that by not telling the truth and avoiding meeting their obligations to their stock holders and fellow citizens they have truly "run this economy in the ground". How far in the ground we just have to wait and see. More importantly is there going to be any change in the behavior that got us here in the first place.
I really wish there was some way to integrate in a simple numerical way these effects into projections that are important for making retirement decisions.They would have to be simple so I could understand them.
I talked to a friend today who has been retired for 4 years. He said Dow 7,000 was his cut off point, below that he had to go back to work. He never envisioned that the DOW could ever go below 7,000. The data that he used to make his retirement decisions didn't fit well into reality. That's what I'm looking for, data that fits the present reality.
I also agree with the second part of the quote that this thread doesn't belong here. In fact I think that it has gone as far as it can.. I truly appreciate
the thoughtful replies. The process of going through this has helped me clarify some of my own thoughts and has helped me make some decisions.