The year 2008 was not, what I call, the financial highlight of the decade. Or, maybe it was. Stock market doing a nose dive, bailouts, housing industry coming to a dead stop, oil prices soaring, automotive sales dying and so on. What a year for investor and speculators. Some of us lost while others profited. We sort of brought this on ourselves. We panicked. Soon after the media announced the economy was going south, we all stopped spending, which snowballed into lay-offs and shutdowns. Of course spending by the Fed, like all we had to do is print more, did not help. And to top the pile of S??? ... we have a new president, which some don't trust, and the other think he has a magic pill for this mess. Let me be the first to tell you, he does not. But I believe he WILL try to clean up the mess the previous administration left. And don't try to tell me they didn't. I really like Republicans, I hang around with some nice mules.
We ALL have to pitch in and help this country pull itself from our financial stumble, regain respect in other countries and get back to being a good place to live. Not that it isn't now.
How you ask? Let's start with spending. Spend it if you have it. Of course save, but don't hold back unless you have to. Spending makes the economy go around. Now is the time to invest. Stocks are down, and you can do well when the market comes back. I think that will be in the summer of 2009. Green is big, recycling, organic grocery stores, metals, Internet companies in Asia, and even funeral homes are doing well now. Invest folks!
Finally, invest in your family. Save for your children's education. Put it away while you can. The cost of a good education is soaring fast. Even Community Colleges.
2009 is going to be a very interesting year to watch. I wish you all a VERY Happy New Year anda very profittable one. Buy that new car and go for a ride on cheap gas, while it lasts. HA! HA! HA!