Yesterday, an epochal day in American history, 146 years after Lincoln signed the Emancipation proclamation, as Barack Obama was being sworn in as the first African-American president of the United States, a persistent schizophrenia of the American soul was laid bare.
As the president-elect placed his hand on the Lincoln inaugural bible, and hundreds of millions of Americans and many more around the world were struck with hope and wonder, nameless fund managers and anonymous shareholders were calling their brokers and shouting "sell!" As the president gave his campaign cry of "yes we can!" the reality of an exuberant walk up Pennsylvania Avenue to the White House, cynical men and women eyeing their assets with that very greed the new President had condemned in his inaugural speech were whining "no we can't."
As the country rose to heights the most hopeful could scarcely imagine, these cynics were pushing the stock market down to new depths -- more than 300 points down, below 8000. This knee-jerk vote of non-confidence in the economy in the face of the most impressive vote of confidence in democracy the country has ever seen reveals a dangerous schism. It sets how we think as investors against how we act as citizens. It makes Wall Street more important than Constitution Avenue.
President Obama's historical mentor, Abraham Lincoln, famously said a house divided cannot stand. President Obama seems to be a true uniter, but the inner schizophrenia that divides the public citizen in each of us from the private consumer continues to allow our narcissist's pessimism to trump our civic optimism.
If America's investors lift their eyes from their virtual ticker tapes long enough to notice that America is transforming itself, maybe they can give the economy a chance to recover. If not, they will learn that schizophrenia is a form of madness in which demons drive out angels, and they will risk defeating the new President before he can even get started.
Wake up fund-managers, share-holders, bankers, investors and consumers (that's more or less all of us): the words My Country T'is of Thee sung so magnificently by Aretha Franklin apply to you too. To all of us.
I do not know where to turn.
There is such a thing as a coincidence people...
If I purchase a stock on the Stock Exchange it invest NOTHING into the ECONOMY. I am laying my dollars on the CRAP,21, Texas Hold Em TABLE. This is not investing folks, it is GAMBLING. That is as close as it getS to investment. Not one thin dime goes into Corporate or Business. It goes into the pock of the rich investor (gambler) or Corporations (gambler) who plays on the table of the STOCK MARKET.
Yes, if you take your winnings and buy IPO or New Issues of stock, buy a small business, a Yaugt, a car, or stuff cash into a bank. THIS IS INVESTING. With 60% of all corporate profits going to this LOTTO are you all confortable the ECONOMY is in good hands from GAMBLERS. I call this foolish. I do not gamble with my or my families future, I took MATH probability and statistics.
That is a 58% increase over the lowered rates brought to us by the Bushies, but it is not 58%, it is just the same rate as I pay for working for a living.
The other truth is that the winnings have been going to China and not America for some time
cash at, from very large "federal reserve system" banks.
Low prime only increases the profit margin between it and the interest we pay on our cridit cards
Lower prime increase lending because banks make more more.
Call it a sale on money. increasing the prime will incease the cost of money.
Headlines On This Date 4 Years Ago:
"Republicans spending $42 million on inauguration while troops Die in unarmored Humvees"
"Bush extravagance exceeds any reason during tough economic times"
"Fat cats get their $42 million inauguration party, Ordinary Americans get the shaft"
Headlines Today:
"Historic Obama Inauguration will cost only $120 million"
"Obama Spends $120 million on inauguration; America Needs A Big Party"
"Everyman Obama shows America how to celebrate"
"Citibank executives contribute $8 million to Obama Inauguration"
Nothing like fair & unbiased coverage of the news!!!
Alas -- guess it is the inflation that is to blame.
Also, the majority of the nation is HAPPY about Obama because they actually VOTED for him. And ECSTATIC that the idiot has returned to his Texas village. If that's not worth an enormous party for the American people, then nothing is.
Cecil Rhodes saw America as a WILD returned to nature play ground for the RICH vacations.
Or perhaps you meant manic/depressive (bipolar)? Multiple Personalities Disorder?
If you are going to randomly make medical analogies (especially in your headline), perhaps you should flesh out specifically what you mean by it, or make it actually appropriate to what people assume you mean. Or... just stick to some sports metaphor, that's usually safe.
blame the psychiatric profession for continuing to use such an outdated term.
why so rude?
http://www.youtube.com/watch?v=wvIAyxpjEuc