My IRA has lost about $25,000 in the last year. In spite of my husband constantly telling me that I should move some of the money around into other funds I've stuck with one that's been, well, kind of sucking air. Maybe that's stupid, but just to get some perspective on my (perhaps flawed) thinking, I also put an extra $1,000 into the market (wasn't easy--had to dig to get that much together) a little while after the 9/11 attacks. At the time I thought it was patriotic and right now I think pulling money out of a well managed and traditionally successful mutual fund isn't the right thing to do. There have been ups and downs in the market, but I still believe it will come back strongly. I just can't see pulling any money out right now (unlike Jim Cramer from CNBC who yesterday advised--rather hysterically--to pull all your money out of stocks), and since I don't want to even consider using any of the IRA money for another 10 years or so which means, yes, I'm in it for the long haul. I'm not a huge investor, and on my retirement pension (in spite of working 3 jobs at once I was considered part-time for years) is really paltry. I'm just another person out here trying to make some sense of the argument that Bill Foster (unfortunately my congressman) is using for throwing over $700 billion taxpayer dollars at
PRIVATE companies. THANKFULLY Jim Oberweis was against the bailout. Ok, some might say it's just because he's running against Foster and trying to cater to the folks out here who'll be voting in November but the guy has been (successfully) in the investment business for YEARS so he must know something--and he is a University of Illinois business graduate. Foster has aligned himself VERY CLOSELY with Pelosi and her liberal loons, so it's not hard to see why Foster would support throwing taxpayer money around--that's what Demon-crats do thinking it'll solve every problem. Yep, that's looney.
Here's today's story in the Chicago Tribune about Oberweis' position on the bailout and a very good quote:
But Oberweis, who has made millions of dollars as an investment manager, said the bailout would "hurt the growth of our economy for many years to come."
"We don't magically wave a wand and say here is $700 billion. That money comes from somewhere. It's taken out of our economy," said Oberweis, who is probably best known for his family's namesake dairy business.Read the story (it's pretty short but to the point). It illustrates the difference between loons in the Demon-crat party and a
CONSERVATIVE Republican.
Here's the Aurora Beacon story also:
