We must all recognize the question. It is usually associated with long—in the
mind of the questioner—car trips. The
question might result from boredom, but we would like to think that it is asked
because the person wants to arrive at their destination, be it The Magic
Kingdom, or grandma’s house.
In this case, the query is in regards to the true end of the
financial mess we’ve been in for the past decade. I know there are some who will dispute the timeframe, but the housing
crisis that triggered the meltdown in 2008 really started much earlier than
that. And other than the Dot Com boom and bust of the late 90s and early 2000s,
I date the present troubles to around the 911 attacks.
This is really the third in a series of columns dealing with
the sad state of our economy. The first
two, The Precious Penny and Nickeled and Dimed to Death, dealt
mainly with the perception we have of product pricing and the incremental creep
of those prices. This one will deal
with how we can determine that the hurting is finally over—or if we can ever
get to that state again.
I must first confess to you that I have been extremely
fortunate in that my nest egg was not halved or even reduced during the last
ten years. Call it dumb luck or good
planning, but my assets actually grew or stayed about even. That is no reason for me to brag, and I
really do sympathize with those who have lost their homes, their retirement or
their jobs.
I had no job to lose since I’m retired and have been since 1995,
but I certainly do have a three-tiered program that I draw on for daily living
expenses. My modest town home has no
mortgage and we own both of our cars, so I don’t have any short- or long-term
debt.
I am, in the words of my favorite financial wizard, Bob
Brinker, in a state of critical mass. (If you don’t understand any of the above
then read the book I sent you last year)
Now I’m going to give you another saying that I believe fits
the current scenario: it goes “Necessity is the mother of all invention.” One way or another, the present people in
Washington are intent on creating a need for a new energy source, and what
better way to do that than to raise the price of our current fuels—petroleum,
coal, nuclear and yes, even electricity.
When the price gets high enough people will welcome alternative energy,
and especially renewable, green energy.
The historical fact that most of the new age energy sources
have proved to be too costly and ineffective doesn’t deter the elite in their
quest to save the earth. The
Solyndra, Ener1 and Chevy Volt debacles, paid for by our tax dollars, are
more proof that we have a long way to go. “No, we aren’t there yet!”
If we aren’t even close to a breakthrough in renewable
energy, then the next question is, “How long will we continue to artificially
create the need?”
It is my opinion that the answer to that question lies in
the outcome of the voting this November.
If we re-elect the same folks who are bent on forcing alternative energy
on us regardless of the cost or the results, then we will be treated to at
least four more years of being nickeled and dimed to death through the
inevitable process of incrementalism.
Now for the good news… As I explained earlier, I have made
it to my golden years with a pretty good next egg. Despite what happens in November
and beyond, I don’t believe I will have to suffer too long. I have enough
assets to see my wife and myself through at least the next 5 to 10 years if we
last that long. Under Obamacare, I suspect I won’t be around after my next
medical emergency because the Independent Payment Advisory Board (That’s the
group that Sarah Palin called the Death Panel) will rule that treatment isn’t
cost effective for someone my age.
The news might not be so rosy for you if you are under
60-years-old. That is all the more
reason to get informed and vote intelligently in November.
