Sunday, December 7, 2008
Disclaimer.....I am no financial expert. I am just a normal guy who reads the paper three times a week and keep an eye on the small amount of money that I have in the stock market. I have an opinion of the financial crises. I think it is important for people like me to voice there opinion on these matters because if not us then who. It will be the so called experts financial advisers, banks and lenders that voice there opinion. I believe the whole problem of this financial crisis is that people blindly trusted others with there investments they did not understand what there money was doing.
This Recession happened because of poor investments. People wanted something for nothing. Because the stock market had done so well in the past the belief was that it would continue to return 10% every year. To maximise profits people took there money out of savings and CD's which give 4% to 6% returns and invested into the market. People went all in without thinking of the risk of failure.
People would rather risk than work. I think American forgotten what work is, we want something for nothing. We want or money to grow but we don't want to put in the work. The unemployment rate now is the highest since the 1970 yet skilled workers are in very high demand. What does this tell us? It's simple nobody knows how to do anything so they become unemployed. People want to get paid for simply showing up to work. It used to be a carpenter could build a whole house. Now nobody builds entire houses anymore. One job is devided into many jobs done by professionals who specialize is individual tasks. One guy for the pluming, one guy for the Dry Wall, one Guy for the Roofing. I think this goes across the work force. People can do one task but can't peace the whole thing together.
I think Americans have become very Lazy and unless we start putting in some effort we will fall behind. Lately I have had a desire to paint this American Cynicism
The painting above is called "The Worst is Yet to Come" We have to business men with ridiculous reactions. They look as if they just witnessed there whole family fly of a cliff to their death in a mini van. Actually they are watching a number go down. Don't get me wrong it hurts to lose 10% of your money in one day but these reactions are ridiculous. To react like this over money shows great greed. I have painted this in a almost comedic approached.