In two weeks-my savings and investments have lost almost 6% of their value. Money that it took me years to cobble together-gone. At least for now. But it could have been a lot worse-A LOT WORSE. Fortunately, I got some good advice and have invested in some pretty strong stocks-so they weathered the storm better than most. Same is true with my mutual funds.
I am sticking to the advice of the professionals and not panicking -but trying to think long term. Keep investing, getting more shares now than before and when the market comes back I will be better than ever.
Except-I’m not so sure the market is coming back. At least not anytime soon. When do I get to be angry? Angry about this totally unnecessary and self inflicted wound? When do I get to see some S&P executives hauled away in handcuffs for committing the financial equivalent of murder? At a minimum-everyone of those assholes ought to be audited and be made to suffer at least a financial penalty for their malfeasance.
So too should our Galtian overlords in Congress who brought this on. And who-like the spoiled and selfish children they are-continue to deny any of it is their fault. What part of “the continued refusal of the Republicans to consider revenue enhancements leaves us no choice” don’t you understand?
And yet we get stuck with useless men like our boy Allen West who refuse to confront reality. I have a message for you Article 15 boy-“The downgrade message, whatever you think of S&P, they mentioned the need for increased revenues and for revenues being on the table three separate times. They absolutely indicted the fashionable intransigence of the Republican party right now in Washington. . . . We did something insane with getting that close to defaulting on purpose.” You and the tri-corner hat wearing slobs who support you, created that atmosphere-and then you whine when someone calls you on it?
Oh-and as a bonus-today I got my layoff notice. Another unnecessary piece of paper created by a three star’s malfeasance. I wish I could blame Congress for it but I can’t-the blame lies closer to home with some really stupid decisions by people in and out of uniform. I knew it was coming-but it is scant consolation. By giving it to me almost two months ahead of time-they don’t have to give me a severance package. And since they are trying hard to find me another home-as am I- it is more of a formality than anything else. So I bear no grudge against my company. Against our customer though…………..well some things are better left unsaid.
Every black cloud does have a silver lining though. Bank of America took a 20% hit today. Goldman lost 6%. The rest of the big banks took major hits-Morgan Stanley lost 24%. Could not happen to a nicer bunch of guys. And if I do end up unemployed-it will give a reason to get relief from my alimony. That alone might make the whole thing worth it. Notice I said might-actually it will suck.
And tomorrow-as Scarlett said, is yet another day.