Jun

8

The gangster banksters were out in force in Atlanta's Buckhead today. The Ritz Carlton, Buckhead holds a special place for me. Started running my first Peachtree Road Race there in 1989, spent my wedding night there in 1991, lived a mile away for a few years, enjoyed many an adult beverage at the bar, met William O'Neill's first CANSLIM poster boy, David Ryan there for a meeting and truth be told, enjoyed the finest meal in my life in the Ritz Main Dining Room when it was still open, having a piece of chocolate covered venison that had been cooking for three days with my family. Today the Ritz was all about Bernanke the Banker so I headed down with my home made sign and stood in the heat for a couple of hours across the street. I hydrated well and threw on the Maui Jims and headed out on a lethargic day in the stock market. I figured there may be others; like-minded, youngsters, Generations X and Y'ers shouting with signs. Wrong, not a soul with me.

I felt powerful standing there watching the big limos roll up with the men in black. They would like us to believe a default is a bad thing for us. It's actually a bad thing for the banks, not most Americans. Pain would be sharp, but it would end. I thought about our debt ceiling that will be raised same way the TARP passed; with threats of financial, govt and economic collapse, maybe even martial law. It will be the same ole song & dance. This is silly, why call it a "debt ceiling"? Just call it what it is, an increase in the rate of borrowing.

The security detail fanned out watching me across the street. Getting blank stares from drivers far too concerned with making a living than reading anything about Bernanke. I felt sorry for America today.

Today, the Japanese and Australian tourists had questions or maybe they just liked my orange shirt. The Americans seemed to be worrying about their next text message, tattoo and hook-up. I am glad I went but more scared for America from what I saw at that intersection today. Savings and retirement are not institutions. They are matters of personal responsibility. They are an attitude - not some external organization or person to blame. The key word in retirement planning is not retirement. It is planning as in; plan to have your house paid for, plan to have your car paid off, pay off the credit cards and have enough saved to generate a steady income in your later years.

In the coming years, our debt is projected to grow to more than three times the size of our entire economy. This will be ugly down the road.

Today, do they really care? Not sure. I do. That's why I went. I wanted to do it my way, just like my Dad.

Originally posted on the Chippewa Partners blog. 


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