I told myself over and over again… your too close to the subject… stay away… FAR away. But I just cant ignore it when I see a comment on Twitter from the White House stating the following:
whitehouse: News Flash: Insurance Companies Will Profit If Status Quo Continues http://bit.ly/4wg4KH
Im trying my best to hold back with a comment with a conspiracy theory that President Obama and the White House are actually… against companies making a profit. I mean certainly that not the case right? Then why make such a comment?
This just so happens to coincide with a discussion less than 48 hours ago I had with some friends over a late nite dinner in Atlanta. They more or less made a similar comment.
This is a similar situation to when gas prices started creeping up on us and people were complaining about oil companies making huge profits.
You know what I told people then? Look at your 401k… how is it doing?
See… don’t blame the companies… don’t blame the government… go look in the mirror instead. We are the problem.
We as a society have become so enamored with money… it has corrupted us. And at the same time we have turned a blind eye to the problems it has caused. It has blinded us from doing the right thing. We have become obsessed with obtaining more of it… that we have lost the ability to look at the big picture.
We, as investors, caused this problem. We go to these companies and say “hey.. why are your revenues and profits down?”
Consider this… would you invest in a company whose revenues were dropping? I don’t think so. Companies react to the “market”. The “market” says they want more money. The companies are giving them exactly what they asked for.
Now we.. and the White House… are complaining about them wanting to make money. We are complaining that they are not providing adequate healthcare.
But we refuse to look at ourselves to see that WE created this problem.
This is why I continually say.. the biggest problem in this country.. is also the root of all evil… money. We cant get enough of it… we lose focus on whats best… and the domino effect if crippling the American Dream.
Woody Bass III 