Kiss your assets goodbye

I am probably too mad.  One should hold her tongue when her brain is exploding with disbelief.  

I turn on the radio after dropping my granddaughter off at school and hear our president scolding again, this time the country’s brokers.  “Because of lack of protection, you could end up with a situation where you’d lose some of your hard earned money simply because your advisor isn’t required to put your interest first.”

So President Obama rides in: “To the rescue!”  He has directed the department of labor to draw up new rules for brokers that would protect middle class families. 

He has to know, he is not a stupid man, that what is destroying the wealth of the middle class is his printing press. 

In May of 2009 they promised us, “We Will Not Monetize The Debt!”  Remember?  “We will not monetize the debt!”   The truth is they have been printing 85 billion dollars a month for 7 years, and every dollar they print makes that dollar in your pocket worth less.  My late husband described how his mother wept after the collapse of the German dollar, bags full of money that couldn’t buy a loaf of bread to feed her hungry family. 

They call it quantitative easing now.  Apparently that’s more palatable.  Well that quantitative easing has benefited the average person on the street not at all, and it has reduced the value of retirement accounts by multiples of a thousand. True, it has sent stocks soaring to record highs, but as soon as the printing press stops, and it has to, that market is going to collapse like a grass hut in a typhoon. 

The reason we are not earning what we should on savings and investments is because the Fed has kept interest rates to unnatural lows.  The reason we lost millions on our housing investments is that the Federal government screwed up the market. 

He is not a stupid man.  He must know this.

Watch out, folks. The federal government is riding in to the rescue. Grab your knees and kiss your assets goodbye,