Ohhhh please. If Americans were that interested in this country they would actually go out and vote more, Their kids would actually be able to point out a state on the US map, they would not outsource jobs to communist china or open the floodgates to H1B's so they can save a dollar on consumer goods. If Americans were that interested in the future they would not be driving all those SUVs burning oil like its going out of style giving the Arabs all the power as we suck more fuel making us dependent on Arab oil. The days of Americans actually having an interest died decades ago. People were actually willing to sacrifice for this country at home and abroad for the greater good. Bottom line, you have to look out for #1 and your immediate family, if it means trading against dollars, going long on equities when the fed decides to drop 50 so be it and if shit hits the fan, pack your bags, take your profits and head to better pasture. (Switzerland?)
<i>"Grow up."</i> You had me nodding my head in agreement all the way thru until those last two words. Immediate change of heart... looks like one of us here has some maturing to do, regardless how many candles are on your next cake. I lived thru all that and more myself. The sky hasn't fallen yet, and hopefully never will. At least in my lifetime, selfishly speaking. We could spend the rest of tonight and into the weekend listing a historybook full of world empires that rose & fell over the course of decades or centuries. I'd bet my entire net worth that somewhere in the middle to latter stages of that cycle each time, men worried about what they saw in the future, only to be guffawed by masses with short-term vision. My country is basing its economy on debt and only debt. It's done that for a long time now, and the process is accelerating. Maybe it can keep the hamster wheels turning forever without changing a thing. I'm 43 soon. If it holds out another 40+ years just like this, I won't care any more. Selfishly speaking
jezz Austin you're downright insightful and reasonable yet polite too. I have found that almost unheard of here on ET and the internet web boards. I am 43 also, but I would like to see the prosperity continue for more then 40's years. I also think the fall out will come and go before 40 years yet I would hate go to my grave seeing the down fall being so close knowing my son would have to pay the price for it. IMO we dont have to suffer such nasty consequences if rational actions are taken in a lot of areas. Having been in the business of trading for 20 years and having other family members who have been NYSE members dating back to the 1920's its easy to know the selfish side of trading too.
Alan Greenspan has a video on Fox currently. He explains that people want the irresponsible lenders punished but if the Fed tries to punish them they have to punish everybody. The punishment will have to come from the private sector maybe, in the form of lawsuits.
We wouldn't have the here and the now to trade if we (America) had not done what we had done in the past which was prudence on the part of our government. I daytrade futures and yes, I should not care less about what the Fed does but I do. Why? Because I have kids and a grandson and more to come. I know kids in the neighborhood who are good kids (most of them lol) who need a stable USA. And I grew up (thats debatable I know) in the 50's and 60's and it was tense at times but you always knew we'd pull thru (Cuban Missile crisis, Cold War etc) but with so many things gone global, you have to wonder what is going to be the result when a Bernake, Paulsen, or Bush gets a brain fart. So--I'm still going to day trade and I'm still going to make money, but I've already written my congressman to give him my two cents worth. probably won't make a difference with just me writing but what the heck its an effort. What did any of you do about it??
Anyone living in the US is, by definition, long dollars and has a vested interest in both what the dollar does, and what the Fed does. Those of us who behave fiscally responsible are slightly miffed that those Americans who did not get a free ride. We don't get free rides. Get this into your thick skull before mouthing off under some new alias.
Sadly; but it is true; One of the side effects of globeliztion is that we take care not just American but the humanity of the world. If we can forgive the mounting debts of African; why can't we forgive people have made irresponsibles debts. whenever we want to reduce the wasteful spending; just keep in mind; one man lost is the other man's gain.