As I have said before, unless you want to gamble, or have a 15-20 year time horizon, or are a trader, or are REALLY good at analyzing balance sheets and picking individual stocks, stay out of the market for a while longer. Maybe a year, maybe 18 months. When you get back in make sure it is into a well diversified portfolio that is appropriate for your age and situation.
This video illustrates why you shouldn't believe the hype. I may disagree with much of John Stewart's politics, but this clip is great. The truth can be very funny. Just because people on Wall Street act smarter than the rest of us doesn't mean they are.
This economy is having the positive affect of helping people value their work. More and more people are becoming thankful for the jobs and skills they have. This is a good thing. Gratitude breeds peace and destroys the resistance that we all have to hard work from time to time. In addition, people are realizing that social status is not so important.
I hope this will bring us to a new time where quality and innovation will flourish. Where entrepreneurs, not mammoth inefficient bloated corporations (like GM) will have a leg up. This correction in the economy is a huge opportunity, for many things, not just making money.
It is an opportunity to realize it is not the job you have, it is the quality of your consciousness while you are doing that job that matters. This is what creates real value.
Here is a silly little example: My kids love Lee Ann Chins. There are three of them within a relatively short distance from my house. We always go to one now, instead of the other two. Why? Is the food better? No, no, no. It is because the manager there is awesome. He does his job very well. He does his job, not with the resistance of someone telling themselves, "I am just a manager at Lee Ann Chins, this sucks." No, he does his job with the attitude, "This is my job. This is where I am right now. I am going to do well. This is going to be the best freaking Lee Ann Chins in town. We are going to have the best service possible." He is friendly, efficient, kind, remembers his customers (not just us,a bunch of them), and brings an energy to his work that infuses it with quality. I have no doubt the universe will reward this guy. He will do well at whatever he does.
So whatever you are doing, enjoy it. Do your best, as trite as that sounds. Even if it is laundry, picking up dog sh__, mowing lawns, etc. It doesn't matter what you do, it's how you do it that changes the world.
And the WHY? Well, just because. What's the alternative?
I am very surprised. Obama did a fabulous job of telling moderate Muslims that they are our only hope for defeating the extremists.
He was also tough enough. He made a clear distinction between our values (the U.S) and the values of Islamofacists around the globe. He also made it clear that those moderates MUST DO THEIR JOB and save their region and their religion. If they don't, the extremists will win. He made it clear that Muslims must respect America and we will not abandon our views on equality and freedom to any religion.
He stood up for women's rights in the Muslim world. (Although I still think traditional Muslims women's' garb really sucks and is a symbol of hatred and oppression of women - I also think people should be able to wear whatever they want.)
Wow- It's about time.
Please don't say I am an Obama supporter in general now. I am not. Our ideas about the economy and how he has used his position to increase government power are antithetical to most of what I believe. However, I must call them as I see them, so here are some more things he did right today.
He acknowledged that the U.S. relationship with Israel is "unbreakable".
It's about time.
This was a good speech. This was a great speech. I hope it has the power to stop the rising tide of extremism in the Middle East and the the whole of the Islamic world.
He finally made the distinction between the extremists and the rest of the Muslim world. He also finally acknowledged the horror and immorality of 9/11. He said he would only bring the troops home when he can be sure that there are not violent extremists in Afghanistan that are plotting to kill Americans.
He used the Koran, the Torah, and the Bible to make many points. He used them to show violence is wrong.
This was a great speech - it's about time. I think he finally understands what Bush already did. Apparently, the responsibility of leadership is much more enlightening than the pursuit of the power needed to implement it.
All this said, I am not blind to the contradiction that is Obama. I absolutely disagree with his assessment that American policy set by Bush and Cheney caused an increase in Islamic extremism. He is dead wrong about this. Though I am not a right wing evangelical Christian, I am aware of the many prophecies that say there will be a great leader that will bring the world together at a time of great turmoil. Do I think that is Obama? No. Not necessarily. I don't even think those prophecies are true. It is weird though, isn't it? Interesting.....................
Anyway, one can't deny it was a good speech. Or maybe one can. But I don't.
We all knew Bin Laden hated Bush. However, many in this country on the far left thought Obama would be different. Surely his conciliatory, progressive attitude toward the Islamic world would make America safer. In fact, many of them even blamed the Bush administration for stoking hatred of America around the world.
I have said all along that these leftists were wrong. Bin Laden and the rest of Islamic extremists hate America because they are full of hate. They are anti-freedom, anti-women, anti-Jews, racists, etc, etc. Basically they are against anyone who doesn't share their vision of a global Islamist Caliphate.
Whatever your opinion of Bush, he understood this and understood it well. He never said all Muslims were extremists. He never said Islam was our enemy. He did say Islamofacism was anti-American, and it is.
Now Bin Laden has decided, not suprisingly, that Obama is evil too. If you read his latest speech, you will see he is using it to threaten an attack on American soil where "millions" will die. It is possible even that his radio cast was the "go" signal to his affiliates. I hope to God I am wrong.
Today the market was up, way up. The curious thing was so was the VIX (volatility index). Typically the when the market is up, the VIX is down. Many call the VIX the "fear index". It is trading much more near normal levels than it was during the sell of last fall or any time since.
I am not sure what this means, but I am going to look into it. My guess is it is an indicator the S & P is overbought at these levels.
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