September 8th, 2004


All that angst over nothing.

I was going to use the Marvin the Martian line about the earth-shattering boom, but then I realized that I'd already done that particular joke in another context, so...this is more accurate anyway.

The talk with the ex went a lot better than I thought it would, and after discussing it with my daughter afterwards I've come to the conclusion that while the two of them may have talked quite a bit over the last four years I don't think either of them were listening too well. Which is about all I want to say about that. I'm not comfortable dragging family business out in the street, even if it's the virtual street, and doing it to the extent that I did it in yesterday's overwrought post is embarrassing enough.

As an unexpected bonus, I got back a sackful of books I'd been missing, a stack of records (yeah, the big vinyl things everybody used to listen to before CDs) that I didn't realize I was missing, and some photos from Germany and junior high school. Hard to believe I was ever that skinny.
  • Current Mood
    calm calm

Who do you take us for, Motley Fools?

Cobb hs an interesting essay up today about the Ownership Society W is pushing for, and I think it would be fair to say he's skeptical - he doesn't think most people are smart/skilled/energetic enough to hack it as small businessman/entrepreneurs (probably true) and further, that there isn't that much in the way of relaible long-term wealth generators out there for most people to move into the investor class.

But let's not pretend that many more millions of Americans who want to play rich can manage their own investment portfolios out among the expert investor class. Who do you take us for, Motley Fools?

(Comma inserted by yr. humble Editor.) I think he's misread the intentions of W and his fellow Square Dealers, if I may resurrect the motto of Teddy Roosevelt's Republicans. I doubt rather strongly whether W (or anyone else not on serious drugs) thinks that most Americans can get into the Buffett/Gates class, much less the still-richer group of institutional investors. What I do think is that enough people can amass enough in the way of assets (stocks, bonds, house, farm, business, whatever) that by the time they retire they'll be comfortably in the middle class and likely to stay there until they die. That's a realistic expectation, if the government will just get the hell out of the way and let people put away some money for themselves instead of sucking it all up into Social Security and Medicare, which aren't going to be there for us anyway, at the rate things are going.