Diamonds and Dogs
Ben Franklin Said it Best
Pointing to his timeless wisdom, our founding father Ben Franklin remarked in his autobiography that "&when you run in debt: you give to another power over your liberty." As the national leaders push us to borrow and borrow more and more, we risk the loss of our financial freedom. I would argue that you cannot spend and borrow your way out of a financial crisis and that true economic growth comes alternatively from savings and innovation. Recently, the union spokesman disguised as a Senator, Chuck Schumer, publically pressured Citigroup to make a bad loan to an untimely commercial real estate project known as the Carousel Mall in Syracuse. Forcing capitalist to make bad loans for political reasons is the primary cause of the recent recession and financial crisis. The politicians that convinced people that home ownership was a right and who funded the homes through quasi-governmental agencies like Fannie Mae and Freddie Mac, have not only ruined many lives and weakened our country, they have sold out America for some votes. Leverage, or borrowing, should only be used when both sides have a realistic chance for success. Otherwise, the liberties of everyone, including the US taxpayer, are lost.Diamonds and Dogs market commentary is a journal of daily observations on anything that happens to be of interest to our author. Obviously, our primary focus is the stock market and world economic events, but for this page we have no defined topics. We want this page to be dedicated to the interests, concerns, and possibly to the financial gain of our clients and friends. All comments contained herein are for informational purposes only, and should not be considered as a solicitation to buy or sell any security. The firm does not guarantee the accuracy or completeness of the information or make any warranties regarding results from it's usage.