NOBODY is talking about the fact that the people fixing this fin. crisis are the same people who arew to blame….”Commissa” Paulson comes from Goldman Sachs…and he’s helping out his old banking buddy’s while the rest of us suffer….not enough people in the USA know enough about about the financial system here…some can’t even balance tyheir own checkbooks….so, the Treasury can have their way along with the ruling elite!!!!

The media needs to remember that more than 50% of the country does not own stocks, money-markets or mutual funds. The “economy” is often used by the media in a way that focuses on the lives of the wealthy and near wealthy and ignores the experiences and lives of the poor.

The media also often uses the “market” in a way that implies neutrality and democracy. The market is not neutral and is not democratic.

The deregulation of the financial sector that is known as the “casino economy” because of the explosion in derivatives and financial speculation has caused this crisis but more importantly it has widened the gap between rich and poor and encouraged predatory lending and other unethical and criminal behaviors.

However, it would be wrong to simply just find individuals to blame. Individual criminality should be held accountable, but it is the system that is truly corrupt and immoral.

Unproductive investments and the casino economy is not healthy for any society and should not be allowed for the lives of struggling people are harmed.

I’m really tired of the answer to economic troubles for the masses of us who aren’t in the top income bracket being “Just work longer, don’t retire.” I’m increasingly frustrated at the expanding gulf between the wealthy and everyone else, especially when their wealth is borne on the backs of the rest of us.

My husband is a retired Army Colonel, I have a son active duty Lt. Col. I have 2 military widow friends with deceased husbands who did NOT buy into the Survivor Benefit Plan – and they have been really hurting financially. To those debating this plan – DO IT! Also – the DOD is trying to “buy out” retirement plans of those about to retire – I’m not sure of the details, but if soldiers accept these buyouts they are losing long-term benefits “big time”. My son is having to counsel against it..

Does your guest really think we believe that we can trust in the stock market? I opted out of 401K 3 years ago because I did not trust the stock market. Why? Because I was paying attention and saw this coming. Instead, I put all my resources in to eliminating as much debt as I could and worked toward paying off my mortgage. It is a good thing I did as I was laid off due to the economic fall out as a result of the fiscal irresponsibility of the bankers and government. The unemployment in my area is over 6% in my area and continues to grow. I was out of work for a year and not only do I find myself in a different “career” just to get work, but even at that, it is not sufficient. Inflation, rising fuel costs, rising property tax and rising hazard insurance. All of this has depleted my savings, but I have not missed one payment. I did not purchase more house than I can afford, but as a result of the greed and corruption on wall street and in government for the benefit of the elite …. our middle class income (70k) per year is just enough to get, never mind save!!! How can we prepare for retirement when our salaries continue to decrease and the cost of living continues to increase?

If you want to retire and save money at the same time, move out of the country to someplace like Costa Rica, Mexico, and particularly Panama. You’ll have all the golf courses, television shows, supermarkets, medical care and expatriot communities you can wish for. And the cost of living is half of what it would be in the retirement communities in Florida, Arizona or anywhere else.
And in Panama, the dollar is the currency; there are no hurricanes and loads of Panamanians speak English.
And the government is stable.
Did I mention the weather, the biodiversity, and the beauty?

Jeanne and Heidi sound like smart cookies–wish I’d had their foresight. But what is astonishing to me is how extraordinarily UNHELPFUL the guests’ comments are. It’s the mantra of Save. Diversify. Leave your money where it is. But the economy has been weak for years. People who aren’t unemployed are underemployed, stuck in contract work, not getting enough hours to get benefits. Saving isn’t the issue. Making enough to pay the mortgage and keep food on the table is the issue.

But look at the contrast. While the middle class plugs along, following the rules–we can’t move or touch our own money even while we watch ourselves losing ground every day– the boys on Wall Street wrote new rules for themselves every day. There better be something in this bailout for the middle class cuz right now it just looks like the repeal of Glass-Stegall ushered in a party–and now they’re sticking US with the bill.

I really appreciate the discussion that is happening nationally and on this show regarding how to weather this storm. When I think about the comparisons to the Great Depression, I have to wonder if this level of discourse in such a publicly accessible way, which was not available to the everyday Joe then, has had an effect on the current situation that has helped to prevent history from repeating itself (not to oversimplfy). I suppose an argument can be made for a positive or a negative reaction to such widespread information, but I feel it has to be more of a positive one. I know this is off topic, but I just wanted to express appreciation and share a thought. It doesn’t need to be posted.

Follow the buck. The financial advisors who claim to have your interests at heart are earning healthy fees from your investments. They’re not in it “with” you; they are making a percentage whether you win or lose. Of course they want you to “stay in there.” My advice: fire youre advisor and open a discount brokerage account and buy index funds once this mess clears up… or, if you’re gutsy, take advantage of the low prices and buy index funds and ETFs now.

My advice: fire youre advisor and open a discount brokerage account and buy index funds once this mess clears up… or, if you’re gutsy, take advantage of the low prices and buy index funds and ETFs now.

You don’t need a brokerage account to buy index funds.

And anyway, if we are heading into the economic cosmic toilet that it looks like, your index funds will lose half their value in the next year or two.

TIPS and Series I Savings Bonds may be your best bet – their after-inflation yield is close to zero (literally zero for Series I) but your principle is probably safe.

The most critical question is which way inflation will go. Plausible arguments can be made for either very-low to deflation, OR very high inflation. I have a large retirement portfolio of stocks, bonds and Treasuries and other assets. I’ve roughly divided it into half that will do well in a high-inflation scenario and half that will do well in a low-inflation/deflation scenario. I will probably lose half my wealth but I don’t know which half.

The big investment banks and Wall Street ARE the government. They ARE the regulators. Where did Henry Paulson make his money? Where did Robert Rubin make his money? Wall Street. Do you really expect Charles Rangle and Ted Stevens to give a &*(! about your investments? The corruption is huge. These are truly criminals who create regulations and laws designed specifically to fatten their wallets. They steal so much that they ultimately get lazy and sometimes they get caught. Now, Congress and the Administration posture reform during a tight election – creating a “new deal” over A WEEKEND. Where were they while this was building steam? It’s infuriating. Where Franklin Roosevelt when you need him?

These are truly criminals who create regulations and laws designed specifically to fatten their wallets.

That’s pure hyperbole. The laws in question are all made in public – where were you when they were being made? Lifting of Glass-Steagall provided many benefits – I can use my ATM card all over the country; I can have companion investment accounts to my checking accounts, draw checks on my brokerage accounts, etc. I find the convenience and flexibility of the post-G.S. age to be preferable to the old days by far. Furthermore, it was the liberals and progressives who wanted to make homeownership accessible to the masses by lowering mortgage standards, so it’s not just rich fat cats; it’s do-gooders.

Where were they while this was building steam? It’s infuriating. Where Franklin Roosevelt when you need him?

As I asked above, where were YOU when it was building steam? FDR didn’t exist in a vacuum – he had the support of a large, progressive labor movement. This situation is not the result of rich fat cats taking all the power; it’s a result of your fellow citizens not only abdicating all the power by failing to take any interest in politics or fiscal policy, but also of materially contributing to the problem by running up reckless amounts of debt in their own lives and tolerating it in their government.

Tom-
Advice such as: “work longer, save” is not the type of insightful information I expect to hear on your program.
Your listeners deserve more sophisticated speakers.