There have been a lot of changes with the economy lately, but nothing concrete and directional. The talking heads would like to think that they've got things figured out and can help you, but they are just people too. They don't have the answers any more than anyone else does. If you watch a lot of news shows or read economic news, you can find a different stance depending on who you listen to, and their political feelings.
Frankly, I don't think anyone does know or can guess right, that is why you get so many different opinions. I don't agree completely with all of the bailouts that are going on, because taxpayers are going to have to take care of everything, without anything to gain from it.
Since I don't know any more than anyone, I can't recommend anything that would be earth shattering. I do know that a few things will start to come up, and that is inflation, albeit eventually. I think precious metals is a good safe place. A combination of physical coins and paper in ETFs for gold and silver. I also personally like using a covered call strategy for stocks that I own to generate some income.
I know the markets will come around, and thankfully I'm young enough that I can work myself out of the mess. Fortunately I chose to not participate in the decline of my investments, as I've been in cash for at least 18 months. I still feel bad for those who lost everything because of the fault of greedy bastards living on their private islands and luxurious surroundings.
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I'm not sure about the bail outs at all; it's hard to tell if it was really necessary. I do know that this uncontrolled spending binge and one party rule in our government is going to make things worse for us and our children's future here in America.
Higher taxes on successful small business owners and well to do people is not the answer. When businesses invest and people spend their money, it benefits the community and the economy. Taking more money from the people who earned it and putting it into the hands of corrupt government officials is not only wrong, it is bad for our economy.
Government loves the taxpayers money. Our money is what makes them powerful because they get to choose how to spend it and who to give it to, and look how they're spending it now.
I know that the mortgage crisis was caused by greedy people, but let's not forget that it was lawmakers that pushed banks to give sub-prime loans to minorities and people who could not afford them. The idea of giving loans to pour underprivileged people sounds noble, but it was this irresponsible act that opened the doors that created the banking collapse today.
My fear is that the American public is so enamored with the new administration that they will forget for a while that it is just Government. Government trying to spend and grow more government at a record pace. If the American people do not open their eyes soon, I'm afraid our economy will never be able to fully recover and our country will never be the same.
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