CASH FOR TRASH

CASH FOR TRASH

Listening to the news these days is all about the bail-out of the rich boys heading up our financial institutions who thought they were smart. It finally took this mess to show how dumb and greedy they really were. Having a Harvard Business School Degree is no guarantee for smartness. In this case, their degrees only taught them how to come up with the next perfect scheme to get rich quick with no regard to the people they were hurting on main street, while assuming that they would be able to bail themselves out at our expense if and when things went bad. And as they expected, our Government is now buying the “toxic acid” of Wall Street. There is an English saying, “Rich is what gets the gravy and poor is what gets the pain”.

There are 3 segments of our society that will get hurt in our “main street.”

1) People without job: The ones who will lose the most are the ones who do not have a job. This was also the case during the big depression. So the first important thing to do is keep our jobs and be employed in order to be able to ride this out.

2) Since money has dried up for banks to loan out, there will be no business loans. Start up loans and technology loans will also be unavailable, which will hurt or destroy innovative ideas that need financing to bring their bright ideas to the market. We will not see many great ideas that could improve our lives and assist us for advancement, because they will not be funded. This will hurt those companies who are working hard to bring ideas to the market.

3) The third losers are all of us (the public) who have to pay for this mess which will take five to ten years to clean up. To do so we will see higher taxes and a lower value of our dollars due to the government printing money to pay for this.

These are the 3 bad things I readily observe.

Through all of this, I was trying to find a silver lining that would help us all, the general public. Since none of us can send our personal or business debts to the Government to clear our accounts, there must be some benefit, and there is.

First, you have to be employed to benefit from this. Because of this current situation, the only sector that will give us Big Bang for our dollars is the Retail Market. In the coming months you will see more sales, bigger discounts, and price cutting to get us to buy. If you are employed and have a paycheck, this is the best time to go shopping wisely and buy what you really need, all at bargain prices.

Again, buy WISELY and take advantage of the lower advertised, retail prices you will see in the coming months. Look in the newspaper for bargains. You will be wondering how anyone can sell at these prices. The retailers need to turn their goods into cash, since the banks are not loaning to them either. This will be to everyone’s advantage to turn Trash to Cash.