Tuesday, September 30, 2008

Stocks on Sale, or Going Out of Business Sale?

Some of my recent blog entries encouraged working- and middle-class people to invest in companies and become part of the ownership class (technically speaking). With yesterday's $1.2 trillion market fall in mind, I still recommend that hard-working Americans take some more ownership of our country's industries. In fact, if you already set up an account with a broker and loaded it with money that might have become a plasma HDTV, but luckily haven't pulled the trigger and traded (like the E-trade baby) - now's a good time. Maybe. Don't take my word for it, but:

1. Some shares will spike temporarily when the market opens.
2. Some traders will who played their cards right will profit from these spikes.
3. These traders will use their newly-created fortune to buy (a) gold, (b) a cabin in the woods with good foraging land, and (c) a high-powered firearm of some sort.

In any case, try not to worry about the economy. Make sure you have food in your belly, first of all. Regular bank accounts are FDIC insured up to $100,000 for individuals (with variations that up the limit), so keep the bank runs at a minimum. Again, stocks are on sale. Some are going out of business sales, so do your homework.

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