The Building Wealth Blog
The Bailout is about YOU … like it or not.
September 29, 2008 by Mark T. Rafter · Leave a Comment
As I have said in the recent past, damned if we do, damned if we dont.
Congress has rejected the bailout of the Wall Street banks. The Republicans voted against the bill in even greater numbers than Democrats; the Minority leader indicated that emails and other communications by constituents was running nearly 100 to 1 against voting for the bailout….these guys are up for re-election and whereas they read about the rising unemployment rates back home, they don’t want to join that particular crowd.
The American people need to better understand what is going on here. Yes, it has been tagged as a bailout for the “Wall Street Fat Cats” that got us into this mess, and it smacks of that indeed. However, we are ALL affected by this =%@*!&@ mess! This is how the credit crisis get to YOU, the men and women on the street
- Banks loan money to companies, short term cash to buy inventory and supplies to support the products and services the company sells. Maybe it’s YOU that owns that company and can’t buy inventory for your Halloween store. Maybe it will be YOU that goes out of business next. Read more
A Letter to the United States of America
September 25, 2008 by Mark T. Rafter · 1 Comment
I am sending this communication to all members of Congress that I can …. I’d love to have anyone who reads this to chime in with their opinions.
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Dear Senator <salutation to my duly elected representative>,
First of all, I appreciate your participation in the current financial “solution” that is being worked out in Washington in response to the debacle that has been foisted upon the American tax payers by Wall Street.
I saw this coming years ago and have - fortunately - positioned my finances accordingly. Most people I talk to are not so lucky, seeing their net worth, their job, the buying power of what assets they still have, etc. all diminish or disappear.
They feel helpless. I am very knowledgeable about global economics, how the Federal Reserve operates (they being the source of the proposed $700B), how much of our debt is owned by countries that could ruin our economy even without this current disaster, etc etc … and I feel helpless. Read more
This is Your Future … Bailing out Walls Street’s Donkey
September 23, 2008 by Mark T. Rafter · Leave a Comment
Most people remember - or have heard about - the old commercial, “This is your brain” (holds up an egg). “this is your brain on drugs (shows the egg frying in a pan).
The commentator then asks, “Any questions?”
This is analogous to what King Henry (Paulson) and Big Ben Bernanke are doing to your future, and more specifically, the future of your kids, your grandkids, etc. This bailout plan - or whatever they call it - is so much more of the wrong thing.
- They tell us it’s necessary (they are scared to death by the way … they have to say something). Read more
Entrepreneurship Is On Hold
September 13, 2008 by Mark T. Rafter · Leave a Comment
I’m serious … I’ll write more about this soon but the realization just hit me that the approach I have been taking with clients and in my talks to various groups about being more entrepreneurial may be less appropriate given the current economic climate.
I’m going to have to think more about this … stay tuned, check back soon, dont be a buffoon stay away from monsoons.
You don’t need a Weatherman to know which way the wind blows.
Indeed.
- They tell us it’s necessary (they are scared to death by the way … they have to say something). Read more
