In 2007 Federal Reserve Chairman Ben Bernanke told America that, despite soaring prices, the real estate market was fine and derivatives were nothing to worry about. In 2008 America was “surprised” when the Fed went into a crisis mode. Congress passed the controversial Troubled Asset Relief Program (TARP). It was supposed to be a one-time event, and the economy would […]
» Read moreThe Federal Reserve’s Zero Interest Rate experiment saved the banks and destroyed the retirement plans of many generations. Now they want to “normalize” things. Their solutions are ill timed and risky! When things collapse, President Trump will become a combination of Herbert Hoover and Jimmy Carter – blamed for the catastrophe. Democrats will be cheering, “Pin the tale on the […]
» Read moreOut of nowhere, a motorcycle flew past me, crossing a double yellow line signifying a no passing zone. I braked and he jerked the motorcycle back into our lane barely avoiding oncoming traffic. I was 15 years old. The football coach doubled as our driver-training instructor. He remained calm and said, “You did the right thing; he’s racing to his […]
» Read moreI’m very afraid right now and I’m not alone. My life changed radically in 2008. I have written about the government pulling the financial rug out from under retirees. Today I will venture into new, uncharted territory. The Troubled Asset Relief Program (TARP) bill, signed by President Bush, authorized $700 billion to bail out the banks. In 2011, using information […]
» Read moreI was in a panic. I was living off the interest from our Certificates of Deposit (CDs). The government passed the Troubled Asset Relief Program (TARP), and interest rates tanked. My world went topsy-turvy as the banks redeemed my CDs. The new, lower rates won’t pay the bills. Not even close! Isn’t high inflation caused by increasing the currency supply […]
» Read moreI am going to share a 40-year-old secret. I was at my absolute favorite resort, Lago Mar, in Fort Lauderdale, FL. I held many meetings there during my career. As always, I went to check out the conference room the night before. The main door was locked. That was a good sign; they had set up the room and locked […]
» Read moreIn 2008, almost overnight, Americans were told the economic system was on the verge of collapse and needed a one-time bailout. Congress quickly passed the Troubled Assets Relief Program (TARP). Interest rates dropped to historic lows. This was to jump-start the economy and interest rates would quickly return to normal. Eight years, and several bailouts later, we still have historically […]
» Read moreOne of the first groups I joined in AZ was a ROMEO Club (Retired Old Men Eating Out). Much like my ROMEO friends in Illinois, these guys were real-world hard working businessmen, thoroughly indoctrinated in the school of hard knocks with advanced degrees in common sense. Fostering economic recovery? Since the 2008 market crash our government, led by woefully misguided […]
» Read moreA recent Bloomberg article, “There’s Some Hope for First-Time Home Buyers” caught my attention. “First-time homebuyers are finally jumping into the U.S. property market. ….Originations of FHA-backed mortgages, used predominately by first-time buyers, were up 54 percent in September from a year earlier…. By December, the FHA insured 22 percent of all loan originations, up from 17 percent a year […]
» Read moreWhat happens when a retiree can’t pay his bills? The tragic photo of the Greek pensioner in the Express Tribune still haunts me. What a horrible feeling it must be to work hard your entire life, save your money, play by the rules, and then have your retirement hopes and dreams pulled right out from under you. Could Americans end […]
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