Trust the financial investment world! Give me a break.

I was taken to the cleaners BIG time by Wall Street and the so-called financial advisors….but NOT this time around. Once bitten - twice shy. I got my clock cleaned badly in the tech boom over 10 years ago so when I saw the latest Wall Street scam linked to mortgages being nutured by “Da Boyz” and watched the latest army of investors thinking they were going to get rich, I recognized another rip-off in the works and stayed on the sidelines.

At the moment I have everything in T-Bills except some stock market “play money”. I treat the stock market just the way I treat Las Vegas. A few dollars to win or lose and that’s all. “Fun money”. I know I’m probably losing money with T-Bills seeing as the best rates I can get are about 1 1/2% on a 6 months. However, I figure at some point rates are going to climb as inflation kicks in and Bankruptcy Ben cannot “cook the books” anymore without making it obvious that he’s keeping rates artificially low to help his pals in the banking industry and on Wall Street. Thus, I’ll stick to T-Bills.

I wouldn’t trust ANY financial advisor or any stock or any bond or any mutual fund, etc, and that’s carved in stone. I might not get 20% a year…..but I do know some crook on Wall Street isn’t going to be buying a house in Bermuda on my money when “Da Boyz” of Wall Street decide there’s enough money sloshing around in the market for them to start stealing again. However, I do watch the markets closely and one thing is certain….”Da Boyz” are getting ready to rob and plunder again because this market is waaaaay over-valued. A 60% climb in 8 months after teetering on the edge of a financial meltdown is a warning sign but a $12 dollar debt (and growing) and an 11% unemployment and property still grossly over-valued in some areas plus an un-affordable health insurance system which will add to the deficit BIG TIME, does NOT bode well for this economy. I’m not a gold bug. I don’t own $100 worth of gold but it wouldn’t surprise me to see gold reach $3,000 to $5,000 within 10 years as the chickens come home to roost in this economy.

- fiftyfirststate

Related Posts:

• “We’ve Never Seen this Before – Such a Huge Rally, and the Little Guy Is Out”
• Joseph Stiglitz says that Wall Street is hyping up the economy to sell more stock.
• The second wave of delinquencies are coming.
• The housing data hints the length of this reccession
• When will BERNANKE be held to account?

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