We all have seen the headlines: “The easy way to make millions”, or “the quick way to instant wealth”, we are constantly being bombarded with advertisements promising us the world without having to do any work.

Instant Gratification

In today’s western society we are constantly having the notion of instant gratification being reinforced. If it’s our increasing dependence on fast food, to the notion of getting rich quick, we have lost the virtue of patience. Last week I met with someone, who wanted to open an account, and he said that he wanted to only invest, if I could “guarantee” that he will double his money in 3 years. I told him that no responsible professional advisor would ever make such a guarantee, and he laughed and said that he has already spoken to three other advisors, and they said, “ no problem. We can double your money in three years.”

Buyer Beware

The local media is filled with advertisements pitching various real estate opportunities both in Israel and abroad. They often make very seductive claims, of minimal investment and returns over 200% for 3 years, or a “guarantee” of such and such a return. How does one know if this is legitimate or not. Rule number one: If it sounds too good to be true, it probably is. Rule number two: read the fine print. Often times the small print on the bottom of the advertisement, makes it very clear that the “Guarantee” comes with many strings attached, and in fact there is a reasonable chance that you can indeed lose money. Rule number three; Ask detailed questions. Don’t let the salesman off the hook. Ask pointed and specific questions to get a better understanding of the investment. Ask about the risks. If the answer is,” there are no risks,” or lip service is paid to explaining the risks, there is a good chance that you are not getting the full information about the investment, and you should think twice about investing.

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The socialists are mad and they aren’t going to take it any more. Labor heads are warning that unless ’something is done’, workers are going to take to the streets, riot, and commit  crime.

I’m not making this up. This is right out of Davos. The Timesonline reports: “Guy Ryder, the general secretary of the International Trade Union Confederation (ITUC), said that the current financial turmoil had triggered a social timebomb that would lead to deepening civil unrest and soaring crime. Mr Ryder, speaking as strikes involving hundreds of thousands of workers erupted across France and Germany, told The Times: “We are on the road to serious social instability, which could be extremely dangerous in some countries to democracy itself.”

Why do labor workers have to resort to crime, during an economic slowdown? What, just because times are tough means that we throw our morality, based on Judeo-Christian values out the window? It’s not like we have never had economic problems before? Does Mr. Ryder understand that the standard of living of his members, now, is better than it has even been in the history of the world?

Come on. Enough of the scare tactics. How about a little perspective. Ryder estimates more than 200 million people will be driven into absolute poverty this year alone. Uh huh.

I’d love to see how he gets that number. I wonder how many people have moved on up from absolute poverty, to no poverty at all, due to capitalism? He doesn’t seem to mention that? He doesn’t seem to mention that socialism produced hundreds of millions if not billions of people who ’til today live in poverty, as a result of the kind of economic policy Ryder supports.

When will calmer heads prevail, and let the market forces work out the kinks in the current system? Something tells me  that that is the kind of approach that will enable economic growth to resume quickly.

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Though she denies it, it appears that PM wannabe Tzipi Livni has already agreed to divide Jerusalem if she wins the election to be held in a week and a half.

The Jpost reports: “According to the report, Olmert told US envoy George Mitchell that he and Livni agreed to divide Jerusalem, maintain only settlement blocs in the West Bank and uproot 60,000 Jews from their homes. The revelations of the concessions less than two weeks before the February 10 election reportedly upset Livni, who told confidants that she believed Olmert, her predecessor as Kadima leader, was purposely harming her.”

Livni is no novice to uprooting Jews from their homes. She was one of the architects of the disastrous Expulsion from Gush Katif, which ultimately led to the recently paused  war with Hamas.

Though she denies this report, she does so because she needs to deny it politically. I can’t imagine that anyone believes that she DIDN’T already make some kind of deal with Mitchell.

The good news. It looks like she is going to get thumped in the election and her disastrous proposal won’t see the light of day.

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So now Ponzi Scheme fraudster Bernie Madoff is whining that he is stuck at home, albeit worth $7 million, and can’t even go outside to grab a bite to eat. This guy is out of control. He should be in a 3×3 cell, eating prison food and instead he is living in his lavish home and he has the gaul to complain?

According to the NY Post:” I’m a prisoner in my own house!” Madoff fumed. “I can’t go anywhere! I’m stuck here all day!” Madoff, who effectively is under house arrest as part of his $10 million bail, has been especially agitated that “he can’t even go outside just to go to the corner, or get something to eat,” the source said. The source added that it is clear that the disgraced 70-year-old financial maven is feeling sorry for himself while hanging out in his $7 million pad - even as thousands of his victims scramble to avoid bankruptcy, loss of their own homes or worse.”

I guess you can’t get more self-centered than he is. Anyway, the one thing I don’t understand is what was his endgame? Why not stop and run away years and years ago?

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