by phaster » Mon 05 Jan 2009, 02:37:17
$this->bbcode_second_pass_quote('Concerned', '')$this->bbcode_second_pass_quote('vision-master', '')$this->bbcode_second_pass_quote('AlexdeLarge', 'T')hanks CB !
"The American Dream was not founded upon wealth and materialism. It revolves around achieving a better life based on the merits of your intelligence, hard work and contribution to the community of all Americans."
Love that quote !
Even South Americans?
Or, don't they count!
It has always been a "dream"
You think stealing the land from the original inhabitants had anything to do with "merit"? More like might is right..
How about all the "hard work" the railroad tycoons did amassing their millions? (billions in today's dollars)
Let me guess the multimillion dollar salary and bonuses for destroying bank, insurance and finance companies is all about "merit" and "hard work"...
hahaha "dream" is indeed a good word to be using. Delusion might be better *shrug*
Delusions like many other things are double edge swords, for example a few years ago I was somewhat pessimistic during the boom times knowing that the economic party could not last forever and knew if things continued there would be hell to pay in terms of the economy becuase of too much leverage (i.e. credit), and that there would be hell to pay in terms of the environment because of mankinds refusal to acknowledge the problems of global climate change and the problem of peak oil production.
The reality is problems always existed in the economy and the environment, basically the system was unsustainable. We as a society are having to come to terms with the hard reality that a society and social system based on consumption and easy credit is not sustainable.
What has happened IMHO is a peaking of expectations, in terms of consumption, and that is not a bad thing because it is going to open up a new era of wealth based on "merits of your intelligence, hard work and contribution to the community of all Americans."
It might be helpful to remind people who are looking to be successful investors, be fearful when others are irrational and exuberant, and be optismistic when others are $hitting in their shorts...
Like everyone else making an honest buck in the markets, I got burned with some of my long term holding (I've owned a few alternative energy equities that really took a dive), but I figure this downturn is an opportunity of sorts to dollar cost average into industries that will create $$$ investments in sectors of the economy which not create as much environmental damage as disposable consumer products.