You’re never smarter than the market.
Looks like the bailout bill wasn’t such a good idea.
Investors make mistakes, but the global community doesn’t.
Congress has chosen the wrong path and they did it knowing that the people weren’t real keen on the whole idea.
on October 8th, 2008 at 8:00 pm
Glad I cashed out the 401k earlier this year while it was still worth something! Most people who were calling RP and myself crazy a year ago are starting to get it. I was encouraged that 70% of the population in polls was against the 700b bailout so at least we’re not totally stupid and ignorant as people. It’s a shame though that our politicians have their own agenda and/or general ignorance that allows them to be pushed into voting for the wrong things. If they continue the same road we are on now, our dollar will bust. Obama actually wants to follow the same plan that Hoover and FDR did. If our markets don’t correct and we try to fix everything by bailing it out using the value of the the dollar … the bubble will just be bigger when it does finally come crashing down.