We’ve heard that before and here we go again.
As a citizen I have simple wants; I want a job. I want a paycheck. I want to spend and save/invest the money I make. I want to feel safe, secure and loved by my family.
I’m not happy that I lost my pension, my job, or my investments. I want to see Glass Steagall re-instated along with any other policy that makes sense.
I’m not happy that I know more about the London Whale and the Hedge Funds and the continuing CDO hedges, then I know about my neighborhood gossip. I want to feel safe again. I want to invest in equities when I can believe it’s no longer a place to make bets. I was comfortable with long term value investing. I don’t care that I’ll make only 8% going forward? It’s better then gambling and I’d like that return on investment sooner rather then later.
The dialogue should begin about how to stabilize the markets. Bring back stability to the banking system and make the markets “free” not rigged.
Capitalism and markets work when they are not manipulated. The fancy flash trades are creating the market and altering it’s dynamics. This is not a stable environment. Regulation and taxation reform is necessary, short of abolishing these entities, to create a stable transparent system. I want to be isolated from this play and pay environment. I don’t want to lose principal. I’m into preservation of capital. My investment goal is to maintain my principal while I live off the returns of my investment.
I invite comments on these thoughts and I’m particularly interested in the solutions of leading Economists. I invite Paul Krugman, Noriel Roubini, Taleb, Schiller and El-Erian to comment along with the young academics. Our future is depending upon you for constructive advice.
I look forward to an enlightening dialogue.
Wishing you the best.