Stock Market problems were looking at us all the time!
Got around to cleaning a little today. This came about when I went to look for something I had in my hand yesterday and couldn't find it. I looked and looked and finally gave up. I sat down in the rocker available and as I petted the kitty, I spotted what I was looking for. The sad part is was right in front of my nose. Kinda like I couldn't see the forest for the trees.
Nothing really new today from me on the lighter side. With the stock market going wild, I'm afraid I'm going to have to start looking for work. I sure hope the wife likes the job I may have to find for her.
Kidding aside, You know the market is going south when you pull out the BUSINESS page of the state paper and you turn to page 2, it's the want/sales pages. I kid you not! The state paper had only one page for the business section and even that was on some off-the-wall topics. My thoughts were the topic-writers were too busy selling their shares to worry about business in general.
As for the crazy stock market here is my take on it, and it was looking us in the face.
Number one, we all allowed ourselves to blindly lead ourselves down a credit path that had no fences on either side of the road. This all started when one little company out EAST found out if they moved their head-quarters to the Dakotas, they could make a ton of money by not having to pay certain taxes. Once we moved down this path, more and more companies saw how easy it was to make money by charging you interest on money you shouldn't have access to anyway. Keep in mind no fences were built along the way.
Thru normal business progression, more and more CEO's saw this and concluded the following.
1. Look to start your business in South Dakota
2. Look to borrow money from the feds cheaply
3. Look to charge money to people who can't pay.
4. Look for builders who need cheap money to build excess homes for those people and put them in houses they can't pay afford.
5. Look at how you can resell above mortgage for a small fee.
6. Look for the people who have now disappeared.
7. Look to government to help cover bad business deals.
8. Look to taxpayer, cause your sure they still live in that house.
So you see, the whole problem was "LOOKING us in the face" back when one bank decided to move their home office to South Dakota.
Nothing really new today from me on the lighter side. With the stock market going wild, I'm afraid I'm going to have to start looking for work. I sure hope the wife likes the job I may have to find for her.
Kidding aside, You know the market is going south when you pull out the BUSINESS page of the state paper and you turn to page 2, it's the want/sales pages. I kid you not! The state paper had only one page for the business section and even that was on some off-the-wall topics. My thoughts were the topic-writers were too busy selling their shares to worry about business in general.
As for the crazy stock market here is my take on it, and it was looking us in the face.
Number one, we all allowed ourselves to blindly lead ourselves down a credit path that had no fences on either side of the road. This all started when one little company out EAST found out if they moved their head-quarters to the Dakotas, they could make a ton of money by not having to pay certain taxes. Once we moved down this path, more and more companies saw how easy it was to make money by charging you interest on money you shouldn't have access to anyway. Keep in mind no fences were built along the way.
Thru normal business progression, more and more CEO's saw this and concluded the following.
1. Look to start your business in South Dakota
2. Look to borrow money from the feds cheaply
3. Look to charge money to people who can't pay.
4. Look for builders who need cheap money to build excess homes for those people and put them in houses they can't pay afford.
5. Look at how you can resell above mortgage for a small fee.
6. Look for the people who have now disappeared.
7. Look to government to help cover bad business deals.
8. Look to taxpayer, cause your sure they still live in that house.
So you see, the whole problem was "LOOKING us in the face" back when one bank decided to move their home office to South Dakota.
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