Invest Every Month
Build Wealth
Do We Have a Support System?
I'm not a dummy and I'm not a proponent of big government. However as I watch my government at work I have to wonder, are they working with us, or are they simply involved in theatrics? Is there anyone I can count on besides myself? Is anyone looking out for me?
I'm not a partisan and I don't blame anyone in particular, except maybe myself. I've focused a lot on my personal investment growth, without worrying whether things that are (seemingly) beyond my control are going to undo all my hard work. I've invested every month. I didn't get involved in the housing bubble and I've never been a day trading sucker. I've been cautious with my savings and debt. I simply don't feel like I'm being rewarded for it.
I've complained before about how banks had a liquidity crisis and yet the highest yield on a CD I could find was 2%, because the government was giving them money for free. I feel like I've done "everything right" and I'm being punished for it. Because I've been fairly wise I'm comfortable, so I'm in a position to help out. It seems like the definition of moral hazard. Does anyone else feel like they're the only one on their side? Sometimes it might feel nice to have a support system.
-
Comment by paul on March 3, 2010 at 10:09am
-
I think we have numerous support systems.
The first is our family and friends. They are a good source of support in many situations, but maybe not the best system of support in financial matters. Talking about our money with friends and family is usually not a positive thing, but general conversations about investing and economics usually go well if you find someone who shares the same interest.
My favorite support system for investing and financial matters is online communities such as this one. I can be honest about my financial situation and get advice/comments without worrying about what other people think about me.
I do see the government as another support system, but it depends on who is in power and what they are doing. I love the open market, but I think the market works best with some democratic regulation. We need rules and safeguards in the market.
The Republicans generally want the market to be as free as possible. This doesn't make me feel safe in my investing or savings. I want rules on the banks so they can't use my deposits on risky bets. I want rules on the stock market so companies like Enron can't hide their losses as they dupe investors. I don't want credit card companies to be "free" to apply sneaky charges and fees on my account.
Even with Democrats in power, we need to be aware that the special interest money has more power compared to normal citizens, but at least the Democrats are trying to put some common sense regulations in place. Government should be a support system for the citizens of this country. We don't have enough individual power to force transparency and accountability in the financial markets, but as a democratic nation of citizens, we do.
Comment
© 2012 Created by Invest Every Month.
You need to be a member of Invest Every Month to add comments!
Join Invest Every Month