This is an awesome quote taken from an article written by none other than Warren Buffett. I buddy from my ASU undergrad sent it to me and I thought I would share.
There has been a lot of discussion about the economy of late and it can be very confusing. I noticed a post showed up at the WP Carey School of Business Blog dealing with the subject. It gives some very clear details about where that money would be going. Bailout is a term that doesn't make much sense for what they are doing, they are in essence buying up some securities that nobody wants right now, and at a discount I might add. I am not saying that I agree with all the details or have done extensive research around the issue. But the money is not just being handed over, we (via the US Government) are buying securities now to allow for flexibility in other parts of our financial markets with the intention that at some point in the future they will go up in value. I will always bet on America and this is no exception.
A friend sent an email about where he was seven years ago today, meaning for 9/11.
I can remember it vividly. I was waking up to go in to work and my alarm clock at the time was set to play the radio to wake me up. I started to piece together that an airplane had hit one of the world trade center towers. There was much confusion about what had happened and why. On my way into work I listened to talk radio, as I commonly do, and could hear the distress in the voices of those hosting the show as well as the callers. Something just wasn’t right. By the time I made it into work everybody was crowded around a tv in our waiting room, and we watched the replay of the second plane hitting the other tower at the WTC. By now it was all very clear, this was no accident.