WEALTH MANAGEMENT - THE U.S. ECONOMY IS IN THE EMERGENCY ROOM
Posted by Christopher Gregory on Mon, Feb 08, 2010 @ 01:04 PM
*************************************************************** Physicians Physicians face more risks than ever--in their professional practices and in their personal wealth management. Many physicians are not addressing these risks due to time pressures, emotional biases or false beliefs that their staffs and advisors are dealing with the issues.
DocOnomics is geared toward the physician who has a genuine interest in taking decisive action.
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There are reasoned individuals who look deeply into the events taking place in domestic and global economies and write candidly about the economic maladies affecting all of us. Part of our mission at DocOnomics is to consider such views and reflect on them while formulating our own views tailored to a physician audience.
One such writer is widely syndicated and read by many individuals who seek guidance, insights and a common sense perspective on what is taking place in our economy and in our investment world. He has not been reluctant to criticize our political parties and their minions in both houses of Congress.
Most recently, he wrote a column suggesting that "Main Street Savers" should get a Wall Street bailout of their own - in the form of massive tax cuts on saving vehicles, retirement accounts, capital gains and dividends. While your DocOnomics authors view this as a worthy outside-the-box approach to stimulating savings which has been sorely lacking in this country until lately, we know this can never happen in our present economic straits. Not unless modern day Tea Parties start resembling the original Boston Tea Party protesting taxation without representation. Who knows, maybe we are headed there.
What might one day cause a modern day revolution in our thinking is an understanding of how government tries to control our thinking and shape our attitudes.
We submit for your consideration that the U.S. Government is not oblivious to the events taking place in our nation and the world. The facts speak for themselves. Unfortunately, government doesn't want to admit its wholesale failures, so glossing over irrefutable facts becomes the norm. This was evidenced by the Sunday ABC News interview of Treasury Secretary Geithner. In that interview, Geithner said there is absolutely no danger of the United States losing its AAA debt rating. "That will never happen to this country", said Geithner. This is bravado, pure and simple.
What is taking place is a manifestation of government in trouble. In Washington, the belief is that if something inaccurate or untrue is said often enough and forcefully enough, it will eventually be perceived as the truth by the people and will give the people comfort. Government relies upon the belief that eventually, people will accept and act on its erroneous messages and false proclamations. At DocOnomics, we believe that the outcome is reflective of the old introductory computer course teaching mantra of "garbage in, garbage out".
We invite you to click on the blue link below, which will take you to a 3 minute presentation on why the U.S. economy is in critical condition.
Presentation1.pdf
Stay tuned to the coming blogs, because we will return to our messages on steps that physicians can take to effctive self-directed wealth management.
Randy L. Flink & Christopher M. Gregory
DocOnomics Wealth Advisors