A I G
(Anger In Groups)
Nobody likes to lose money. Especially large amounts and expecially money that has been
carefully saved and put away for college, retirement and other long range plans.
However we have seen, and daily see, more examples of people losing money. Much
of it in laarge amounts, due to the economy, the job market, the stock market and the
housing market.
Strangely, everyone has been quite calm about what has happened. However,
I am angry, and I want to find and connect with others who are angery about
what has happened.
Essentily, the people in the upper levels of the economy and the financial
businesses have used the system to enrich themselves at the expense of
more ordinary folks who work for a living and save their money.
It has helped me to think of these people who have been hurt in the
many areas as individual groups.
The loan officer group would include all those people who received encouragement
to go in over their heads in debt primarly to purchase houses but also for home equity
loans for other purchases and spending.
The stockbroker group would include the many people who advise people about
financial purchases including stocks, bonds, annuities. These groups are
dedicated to buy and then buy and hold.
The 401K group would include all the people who come to retirement saving
in connection with their employment.
Then there are the large group that would include services that are available
to be helpful. Payday loans, foreclosure advice, bankruptcy advice are all
fee based services to fix a problem generated by the precending advisors who
were working in your best interest while collecting fees for their advice.
Much of the help and advice people received has turned out to be faulty.
Business conditions are the worse they have been since the 1930s.
The bad conditions are now worldwide.
I personally feel there is a connection to the bad decisions people
made based on the bad advice they received and the bad business
conditions. It could have turned out differently. How do I know?
I was born in 1933 and I have been self employed all my married
life. 52 years. My work for much of that time was involved in real
estate. There has always been good times and bad times and
there are certain basic attitudes available in good times that allow
a family to more easily get through the bad times.
It has always peeved me that there was not a basic economics
class taught in high school. How to balance a check book, how
to make a budget, how to think about debt and purchases,
The purpose of this A I G blog is to hear from people who have
come on hard times and who believe those hard times were
put on them by others who promoted transactions that proved
to be financially harmful.
Please make comments on the blog or email me at
hank330@gmail.com
I look forward to hearing from you.
s/hank
