Quote:> In your situation, ckh, I would think you'd be one of the irate objectors
> yourself to the ongoing criminal swindle, although perhaps you calendered
> your certificates of deposit in such a way that you didn't start seeing
> what was happening until very much later than the rest of us.
Yes, my CDs are rolling to much lower rates. Even worse are the money
markets and the money market funds which pay numbers too low to double
in my lifetime.
Quote:> Meanwhile, the elderly counting on some reasonable rate of return
> on their retirement savings are being forced to do without (the rent or
> medicine dilemma) while future retirees have had their pension funds
> looted first by the boom which artificially inflated values so that
> companies could pretend some of the gains were "income" to management
> (not stockholders who were being short sheeted the whole time by cuts
> in dividend payouts on behalf of fraudulent transfers to criminal cronies
> via manipulative "stock buybacks" which have de facto bankrupted scores
> of companies as part of that other Greedspan Plan to Bankrupt America
> which has been building since he took office in 1987) and now by the
> bust which is showing most pension funds to be vastly underfunded at a
> time when companies have no net income with which to replace the funds
> stolen by management earlier.
But Bob, doesn't the individual carry the bulk of the responsibility?
Why would they invest in a company that does not pay a solid dividend?
I know what the companies and their shills say, "This is a growth
company and we are re-investing our earnings."
All fine but the whole point is to pay the investor. In the case of
companies that grew to the limits of their ecological niche, why would
the individual investor continue to "hold 'n hope"?
If there is no dividend, why not cash out? Why don't people cash out?
I might have the answer to my own question. In the 1980's, I saw a
real con artist walk into a company and ponzi-scheme the savings from
my co-workers. He was a "wild-cat" oil explorer with a new geological
I knew that it was a con and didn't invest. Before anyone slams me for
bragging about having a "big brain", at least half the folk who did
invest muttered, "this is too good to be true", and "I can't believe
every oil well has come in."
Most of them suspected but could not keep themselves from pushing money
onto the table, as long as they were winners.
Once a month or so, the guy would stroll in and hand out dividend
checks, "Look, you made 30% on your investment in one month."
"We're starting a new exploratory well, anyone want to get in?"
People were signing the checks back to him and writing new checks for
more money. "Quick-quick, get the college money down here, this is our
I think some of that was going down in the 1990's.
The end of the oil-well story was the collapse of the Ponzi. Money was
lost, $20,000/person, $100,000/person, that kind of money. Much less
than the numbers for the January 14, 2000 to present unwinding but
still impressive. I am certain that most of those who lost in the
oil-con were big losers in the market over the last 36 months.
If you asked them, they would certainly say that they are wise
Quote:> Yes, there are a bunch of other things going on, each and every one
> of which is a piece of the criminally malicious manner in which that
> Raygun/Bush appointee to head the Frauderal Reserve Board, Greedspan,
> has been intentionally mismanaging the Fed so as to create the
> destructive environment which communist theologians such as his lord
> and master John Maynard Keynes and now himself have long conspired to
> inflict so as to destroy the productivity of capitalism and the human
> and civil rights of individual citizens to own property and to benefit
> from the rightful income thereof.
> Bob Grumbine :-(##
Dang. Good ranting with you Bob.
> Robert E. "Bob" # postal PO Box 20040, Carson City NV 89721-0040
> Grumbine, MBA # voice 775-841-5067
> visit Bob's web site at http://www.dimensional.com/~bgrumbin