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Tuesday, September 26, 2023

It’s Your Money, The Way I See It (Part IV)

By Andrew Robbins

CSMS Magazine Staff Writer 
We are nearing the election and I have decided to vote absentee. Neither presidential candidate was my first choice, what should I do? Traditionally, the stock market does better when a democrat is elected and the bond market rises when republicans occupy the White House. 
            I am a diehard republican. I believe in capitalism and I believe socialism results in a society’s implosion as demonstrated by the old Soviet Empire.

Which party do I put in power? 
I can’t vote for John. Four years ago I did volunteer work for the Republican Party. In the 2000 presidential primary, Senator McCain seriously challenged the current president and then word came down from high, “John, it is not your turn. If you want the parties support in 2008, back off!” John backed off. In my eyes, John is not a maverick he is a wannabe. 
            I can’t mail in a blank presidential slot, I don’t trust folks to leave it blank. That lack of trust forced my hand. 
            Senator Obama, I voted for you!
            It does not matter who occupies 1600 Pennsylvanian Avenue. The new president has little knowledge of the 7,000 political appointees that will make up his administration. It is the party that controls the presidency or the party that runs the country. Only party loyalist will obtain appointee status. 
            In It’s Your Money (Part II), I commented that Wall Street proposes concentrating 8,000 financial institutions into eight federal banks. Creating another monopoly does not benefit consumers.  
             Apparently Federal Reserve Chairman Ben Bernanke reads CSMS Magazine, for recently he warned that “banking may be concentrated in too few hands even as mounting losses and corporate failures push lenders into mergers.” 
            Several readers emailed the magazine and ask, “What happened to the money? Where did it go? Who got it?”
Let me try to answer those questions.
Stock price is depending on buyers and sellers agreeing to exchange quantity at an agreed price. Good news, bad news, fundamentals, and technical tools drive price up and down. Corporate stocks trade nearly twenty-four hours each day. Overnight volatility can generate enormous price swings. When you sell, profit or loss is realized, anything else is paper gain or loss. 
            Rather than following who got the money I prefer to concentrate on personal wealth.
            First, Social Security (SS) should never be abandoned. It is your hedge guaranteeing your retirement. If all your investments fail, SS remains a bastion of last resort. Washington’s voodoo economics, “Put your money in the market and watch it grow?” is a Wall Street failure. 
             Secondly, Most retirement funds lost significant amounts of money. Were the professional money managers all asleep? 
            The question to ask: Do you place your retirement dollars with a fund manager or do you direct your own account?
Suggestion: Let the professional money managers invest most of your retirement dollars, but take a few IRA dollars and see what you can do. Take charge of your destiny. Search the net, look for a stock brokerage firm that meets your needs. Most have programs and advisors that assist beginners. 
             Financial education is the key to financial independence. No one cares more about your money than you do.
NoteCSMS Magazine and the author are not in the business of providing financial services or advice. Prior to investing, readers should seek professional assistance. 
Andrew Robbins is the author of “It Took My Breath Away: One Man’s Experience May Save Your Life.” He may be reached by email at: awrobbins1@earthlink.net

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