Friday, August 05, 2011

Investors putting money in their Mason jars?

I am mindful of olden methods of protecting your money:
- Hiding it in a tin can buried in your back yard

- Hiding it under your mattress

- Hiding it in your freezer

- In a shoe box tucked away in your closet

- Under a floorboard

In my opinion, *Mr. Goodman has a good metaphor. In this world of global economy, there has to be the equivalence of stashing your money somewhere for safekeeping.
As always,
BB

*Stock Market Plunge: Storm Cloud In The Shape Of Timothy Geithner

Peter S. Goodman
Excerpt:
Whatever the market had on its mind, it was not happy about it.

And
Or maybe it's much simpler than all that. Maybe investors woke up on Thursday, read in The New York Times report that Geithner is apparently staying and decided to put their cash in Mason jars.

And
Earlier in the week, as President Obama assented to slash government spending to trim the federal budget deficit, Treasury Secretary Geithner said this would restore "confidence" to the market, indulging a word with mystical powers among econ-geeks.

And
Geithner has carried the torch on deficit reduction, a strategy that has failed to restore confidence anywhere -- certainly not in the realm of household finances, and apparently not in high finance either.
Read more at:
http://www.huffingtonpost.com/peter-s-goodman/stock-market-plunge_b_918945.html

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