Comments on: I WISH I WAS A GOOD ENOUGH HEADLINE WRITER SO I COULD BE SURE YOU WOULD WATCH THIS

By: Elie

Elie — Fri, 17 Oct 2008 14:50:05 +0000

To Albert Gallatin (October 10th, 2008 at 11:20 pm):
America is the richest and most successful country in the world.

By: Jen

Jen — Wed, 15 Oct 2008 15:33:26 +0000

Thank you very much for this video. This is a great time in the economy for people to set themselves up to become very wealthy.

By: Week In Review - October 11, 2008 | Mike Paetzold Recommends

Week In Review - October 11, 2008 | Mike Paetzold Recommends — Tue, 14 Oct 2008 17:29:50 +0000

[...] take the time to watch this at The Thirty Day Challenge Blog. It is time well spent in my [...]

By: Tanksalot

Tanksalot — Tue, 14 Oct 2008 10:49:32 +0000

Hi Ed,
The other story you need to pass onto Annabelle is “The Emperors’ New Clothes”. As far as I can see there wasn’t a panic until the media stirred it up, then it was a case of my report says the problem is $5 billion, you’re wrong my report says the problem is $15 Billion. NO you are both wrong MY report says the problem is $50 billion etc.

Politicians being incapable of meddling turn round and look at the news and go Hmm there’s a problem we need to sort out lets throw $500 billion at it. Simple question does anyone really know the size of the ORIGINAL problem? Not what is reported but an accurate measure!!

In my opinion this could all be avoided if “Johnson’s Job requirements” are applied - You can’t be a stockbroker unless you are over 40 (By then you will have had some exposures to reversals in life and will be able to deal with setbacks). You can’t be a politician until you have had 10 years experience in a real job. (Again exposure to the real world instead of being cocooned from it will provide the ability to think problems through instead of reacting to news headlines.)

Regards

Nick

By: gambol

gambol — Mon, 13 Oct 2008 16:49:39 +0000

AIG should be considered to be in bankruptcy from the time they decided they couldn’t pay out on the insurance instruments: rescind all bonuses retroactively from that time forward until they’re profitable again, suspend all severance packages retroactively from that time forward until profitability, and investigate vigorously everyone at AIG that profited from these illegal activities starting at the top. If the bonuses are held back until profitability, that would provide a great incentive to do good work — not business as usual.

All shredders at AIG should be confiscated. All backup media should be archived in federal prosecutors hands.

Confidence will be boosted if there is a perception that those who profited from the illegal activity are being prosecuted and that golden parachutes won’t be allowed for beating a hasty retreat at the taxpayer’s expense. The idea that these people engaged in these illegal activities for profit at everyone else’s expense and may still get away with it and be paid bonuses and severance benefits as they run away is completely outrageous.

BTW, if only about 6% of the mortgages triggered this, what happened to the profits from the 94% that are still good? How many of those 6% were actually covered by AIG before they put on the brakes?

By: dima

dima — Mon, 13 Oct 2008 09:36:12 +0000

Brian, individuals has a certain connotation of independence, there is no independence in a free market economy…. There is only interdependence…. Trust that the people at the top of the financial system meaning Bernake and whoever is responsible for flawlessly transfering 8% of all deposits over the past few weeks…. Are approved of by Buffet. This man is an absolute genius, and the fact that he approves should be a very reassuring thing to all of us. Thanks Ed!

By: Brian

Brian — Mon, 13 Oct 2008 06:23:53 +0000

I just have to wonder why it is that when the banks are irresponsible with money they get bailed out, but when we as individuals are we pay the price? Just curious….

By: Sim Garner

Sim Garner — Sun, 12 Oct 2008 14:04:15 +0000

Everything happening is based on your perspective of what is happening. Our economy will come back and if those people that have a little extra, instead of hiding it in their mattress, would take it and invest it in the market, they will see a tremendous increase in their overall wealth in just a few years.

Just using the S&P as a standard you will see it level off shortly. It will fluctuate up and down for a short while then start a steady climb. If you invest a hundred thousand in the S&P in Oct. 2008 by Oct 2010 you will have increased your wealth by 25% or more with it steadily climbing.

Everything that was here before the banks went under is still here, it has just changed hands. Nothing is ever lost it just moves from one place to another. This situation will create many millionaires, will you be one of them?

By: Yo

Yo — Sun, 12 Oct 2008 13:58:39 +0000

Something people tend to forget with all this is that there is nothing new under the sun. We’ve been through a depression and other financial disasters before and not only survived, but in the end - we came out on top.

I’ve been listening to people who lived through the Great Depression. The one’s I’ve talked to (and they suffered) would like to see us go through another one because that’s the only thing that will genuinely wake us up and get our acts together. Mind, they’ll suffer again and they don’t care. They’re focused on the end result which will be a positive.

For people who throw all the blame on the government, it’s not all it’s fault - though it can lay claim to a rather big chunk of it. It takes more than one person to ruin a marriage - and it takes more than a few people in the government to ruin a country. We’ve gone along with it. If we the people are supposed to be running our country and the government do our bidding - welp…we’re sinking it together.

By: Ruth

Ruth — Sun, 12 Oct 2008 08:50:48 +0000

This should get you angry! This is a waaake up call everyone! And active to take care of each other and yourselves Hellooo?!!!!!!Thanks Ed very much.

WB states quite clearly that USA is making a choice between fluidity now (the bailout) at the very likely risk of inflation later…

WB states -(Its crazy) I’ m paying the lowest tax rate ever -Ive never had it so good! And he also states that -Forbes Fortune 400 companies are paying the lowest tax rates-lower than their secretaries/cleaners etc. He says he/other high earners should be paying more tax …Hes recommending that the middle lower income earners need to have injection of cash for spending power.20% USA people earn less than $21000 year.

Capital gains tax is 15% yet he pays no payroll tax…His workers,his cleaner does but he himself he’ s never had it so good!His words.
He says this is because income from investments is taxed much lower than income from labour are you going to get the tax from the lower earners or the higher earners? You got to get the tax from somewhere. He states that over past 8 years less and less income tax from highest percentage of earners. His office is paying it but not himself. He doesnt pay payroll tax. Helloooo?

The bailout will cost you alooot long term into the future. When you get your new govt, you need to demand that the tax is taken from people like WB even he says so!

This must get us all thinking Im letting others make these decisions in their own interests, Ive just let them…this is the result, now Im going to get wise…Ed-ucate.

heaps of love, Ruth

By: Bill

Bill — Sun, 12 Oct 2008 03:37:49 +0000

Gosh, Albert.
I hope you don’t keel over from high blood pressure, the result from eating all those cheese burgers and fries.
Because if you do, we might have to open up that dialogue of why you did it and maybe you shouldn’t have, instead of treating you immediately. Yes, there has been an excessive amount of greed mongering to get our Country into the mess it’s in right now. But you know what, I can’t imagine living in any other country. We may not live in a perfect governmental society, however I truly think that our democratic principled government is far better than any socialist type regime out there. When you try to govern 250 million individuals, to create a system for education, schools, food, housing, transportation, and the like…..there are going to be serious errors made by people in the positions to benefit. That’s a fact. Perfect world, perfect people. I think not. Let’s get on with the bailout. Then let’s figure out why you ate so many cheese burgers.
I love my Country.

By: Laurence

Laurence — Sun, 12 Oct 2008 03:10:49 +0000

Listening to Warren has helped restore my confidence in the market.
It is a great feeling to be released from the fear mongering that is dominating the news today.

Larry

By: Preston

Preston — Sun, 12 Oct 2008 03:03:48 +0000

Warren Buffet is a realist in monetary matters and in politics. He answered a very real question we all should ponder. That question was as follows:

If the athlete on the floor (his analogy of America flat on her back) needs a blood transfusion who is in the best position to give it to him? Is it the 95% of us who are struggling to hold on or the rich.
Warren says quite clearly taxes should be raised on people like himself. People who are very comfortable in these times and can more than afford the tax hike.

He even went so far as to say who his presidential pick is based on this criteria.

I could not believe my ears that Warren Buffet is for an Obama Presidency. This is the real mark of a Patriotic American,when America comes first!

I think we should all listen to this recording again to hear what the richest man in the world is saying to all of us about money and politics. And then do what we must do as Americans!

By: Rebecca

Rebecca — Sun, 12 Oct 2008 02:40:54 +0000

Good video - produce more than you consume - simple but true. Thanks Ed!

Napoleon Hill wrote part of Think and Grow Rich during one of the depressions.
What an apt word - if you’re depressed, you lack the collective enthusiasm to create.

Like after war, it comes back to cutting the dead wood then rebuilding and creating as soon as possible.

By: Mara

Mara — Sat, 11 Oct 2008 23:57:34 +0000

It’s perfectly acceptable for his (W.B.’s) position to invest now - he has seen coming this for long and - waiting - following old rules of capitalistic attitudes. And this nobody can deny: Warren is a capitalist profiting from the mistakes and failures of others.
Even though I feel much more comfortable with the fierce and angry reaction of Mike Adams who puts a high percentage of responsibility and therefore guilt on the scales of the Federal Reserve in his NaturalNews.com site and Blog. He even offers a free special report that covers the aspects of the ‘real’ people - the 95% who won’t be able to profit now as they either don’t have he success and the money to do so or who are even deeper involvréd as they are losing bitterly these days and weeks - who are going to pay with their 9 to 5 jobs, the loss of their homes and their security schemes. But even more eye opening is his hint to click through to the Wiki article on the United States Public Debts. Everyone who has watched the WB video should read that article although it is not totally up to date.
What about getting back some of the profits by higher taxation of that small 5% group and investing into the people, their education, and health - something Hillary Clinton intended to do some ages ago already?