Pushing Stocks

With all the problem the Stock Market was having in the past year – trying to dig out of a mighty hole – I am reminded of what it could have been like if we had taken Bush’s advice. You must remember his major push by to get us buying stocks.

First there was his proposal to scrap Social Security so we could put all our money into the Stock Market. He claimed that we were either savvy enough on our own or could acquire the proper tools online or through financial institutions to get a better return on our dollar than the Federal Government could. Apparently, he forgot the reason why Social Security was set-up to begin with: middle-class investors losing their shirts in the Stock Market crash of 1929. He seems to think that sort of thing can never happen again, but I smelled a set-up – we would invest heavily in the Market once again and it would tank, just like last time. Thanks W, but no thanks. Fortunately, his plan did not sink more Americans.

The other way he tried enticing us to get into the Stock arena was by reducing the taxes on capital gains. In other words, if you will put your money into stocks, the Federal Government will allow you to keep a greater amount of your profits. Wonderful! But for how long?

Once again, I smelled a set-up, and it did not bode well for us or our hard-earned money.

Several other ways are even more subtle. Tweaking the prime interest rate, squelching rises in salaries, allowing the gas companies to make huge profits. The less and less our dollar can purchase translates into feelings of financial insecurity about the future, and our willingness to consider again a plunge into the Market.

After all, if Exxon and such are doing such a bang-up job, wouldn’t it be fairly safe to reconsider investing? Maybe just a little bit? Maybe in just the better Stocks, Bonds, and Commodities?

Well, maybe… But then, there is always another Enron, isn’t there?

If Bush had gotten his way the recent depression would have been far worse. There were many who lost their shirts but so many more who did not.


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