In following months, we have downward revisions at the time each month's employment reports are released. By the time we finish with seasonal adjustments and revisions, we might have a loss of 695,000 jobs for the month that had been reported at a loss of 435,000. We finally know the right figure but interest rates have moved up ¾ percent to 1 percent higher. This probably means a slow down in the recovery of housing, car business and all other business hurt by higher interest rates. Again, I ask why do we have this type of craziness occurring in our financial markets?
The answer, whether you like it or not, is.... that's the way the game is played. Who started this "game", who made up the rules and who ratified the entire exercise, nobody knows for sure. Like so many of life's mysteries, they become "sacred cows", and if you have ever read, "Sacred Cows Make the Best Hamburgers", you will understand the concept. Everyone is afraid to change something within an organization, even though it doesn't really make sense, because the origin is unknown and everyone is worried about whose ox will be gored.
Therefore we have to live with the notion that if the President says he is saving 600,000 jobs, so be it. If he says the deficit will be cut in half by 2017, we just accept that it could possibly happen and move on. After all, in the short run it either will or will not come true and in the long run we will all be gone. The only problem is what if we are not all gone, then what?
Perhaps we should protest as if our very existence depends upon accurate figures, real estimates and a concern that every day counts. Maybe we can change some of the sacred cows and look to the day that a politician has his hand in his own pocket. It is time to stand up and fight back.
Let's start by showing our appreciation for the courageous Indiana pensioners who actually expected everyone would play by the rules and took issue with those who felt they were above them. They weren't the evil doers in corporate America, just every day pensioners who felt they had a right to their own money. What a concept!
Roger Schlesinger's Mortgage Minute is heard on hundreds of radio stations and daily on the Hugh Hewitt radio show and Michael Medved shows. Roger interacts with his hosts and explores the complicated financial markets in order to enlighten his listeners and direct them along their own unique road to financial freedom.