Thursday, October 9, 2008

Hope in another Treasury

I have been a little surprised at the mass panic over the downward movement of the US stock market. Somehow, there is a segment of the population that thinks that the market will always go up. Never down, just up. Up. Up. Up. Like a Zepplin. I realize that there has been a very abrupt and rapid downturn and that is a little unsettling for most. But I think the level of concern about this temporary decline is a pretty good barometer of what people have placed their trust in. For those that follow Christ, your treasure is not supposed to be here on earth anyway.

A couple of other thoughts:
  • What if we gave the trillion dollars to the middle class and the lower class? This would seem to make better sense than providing a bailout to the greedy fools that created this mess?
  • There is a report that someone punched out the former CEO of Lehman Brothers when he was working out. This CEO is a guy that made $400 million and led his company right into bankruptcy. He should probably get used to that type of reaction.
  • One confirmation that the US is still the dominant force in the world is that when we go down, everyone else goes down with us.
  • Who in their right mind is selling stocks right now?! If you are wise, you bought part of a great company, not placed a bet. Hang in there and wait. Never sell low.
  • The brilliant investor Warren Buffet said, "Be fearful when others are greedy, be greedy when others are fearful." The time to buy low is coming for the patient.
  • It is easy to commentate when you have very little money!

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