Madoff is just not a good name for a guy you want to invest with.
I mean, if you were ill, would you go to see a Dr. Death?
Come on people! Madoff Investments? The name should tell you something. Couldn't you see it coming?
Seriously, 50 billion were invested over a 50 year period. That's incredible.
I heard an interview today on NPR of a woman who handn't a clue where the money was going. She just wanted to paint. So she invested enough so that she wouldn't have to work, she could just paint on her canvases. Now she want's to hang HIM on her wall.
The line at NPR was: Not just wealthy people invested with Madoff. They were using this woman as an example. I don't know, if all she's worried about is if she can afford another tube of paint, she doesn't seem the soup kitchen type to me.
It's not about maintaining your standard of life. It's about lowering your standard of living. That's what we'll all be doing in the next few years in order to survive. There's no other way.
But the thing most forget is that their identity is unconnected to the number of zeros after their bank account balance. Why do so many people get that wrong?
I'm thrilled to get rid of yet more stuff. I'd actually like to live far simplier than I currently do. (And already I've stopped wearing socks. You know, less washing, less water, less energy.)
I guess in a way, everybody who invested in 401k, stocks, and variable life insurance, have all played the fool. It's estimated that all told, people have lost 40% of their investments. I'm convinced it'll come back, but it won't be soon. It'll be a while.
So in view of that people, stop giving the thieves your money. Those people are just shadows of the real thing.
...dave
With an evening coat and a white tie, anybody, even a stock broker, can gain a reputation for being civilized. - Oscar Wilde
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