Americans are saving more and paying off their debts. Banks and financial institutions are holding trillions of dollars in reserve. A penny saved is a penny earned, takes on new meaning. The Wall Street gamblers raided the American people’s 401ks and other investments and we learned that deception enabled the transfer of wealth from “Main Street” to “Wall Street”. If we transfer wealth from the top to the bottom, that’s bad. If we transfer wealth from the bottom to the top that’s business.
Americans are learning that financial planning and planning for emergencies is the way of the future. As we grow and we recover from the financial downturn we should not forget the lessons of the past. You can’t get something from nothing. If it sounds to good to be true it probably is. If someone wants you to invest in a sure thing remember that only the big guys make the kind of returns you see on TV. Oh yeah, you hear about the long-term investments and that’s a good thing. But if you look at the number of people who actually invest in the market versus the number of people in this country who can invest, the numbers are dramatic.
I’ve got nothing against investing in the market. I’ve got something against people being led astray. So people invest in the sure thing but only invest what you can stand to lose. Save for a rainy day. In this Country it rains a lot, especially on Wall Street.