Money Talk

Its really weird that when I wrote my Part I on this topic, I had some notes for Part II but how soon my notes become a thing of the past and something new emerges which is more "weightier" than the previous. By now you might have figured where I am going with this. Yes, its the hurricane, Irene. Not just because its a hurricane and it is headed towards the East Coast of the US. The bigger thing is, for the first time in the history of the USA, the Mayor of New York City has ordered evacuations in Manhattan - the financial capital of the world. That's huge, and what with all the power disruptions, infrastructure failures, not to mention the direction the stock market will tend to follow in the coming week/s. Ben Bernanke's talk at Jackson Hole, Wyoming seems dwarfed by the impact of Irene. Anyway he did not have much tangible to offer other than chiding the Congress to act! Who knows what that meant. I wanted to really talk a little about the European Bank crisis. I

Its been wild to say the least. Economy, Sovereign debt, Budget Deficits, Jobless Numbers, Industrial Production, Consumer Spending, House Prices, Assets, Stocks, Markets, and the list goes on. Every guy on the road knows what these terms are these days because it is being played out in our every day lives. I have hardly heard any assuring voice with a mature thought. It appears education and experience is just as good as a novice's  throw of dice idea of one should do in such a situation for both the short term and long term. I am disappointed honestly at the intelligentsia of this great country (US) and the corridors of knowledge, not to mention the seasoned brains of experience that lay scattered all over the breadth and lengths of this vast land. When we lose money in stocks, retirement funds, we are made to believe we don't have anyone to blame except ourselves because the investment decision is ours. This is a way how corporate and financial managers shield themselves f