I can't even convince my family of what is going on...Submitted by havaprayer on Fri, 07/04/2008 - 20:59
I just spent the afternoon at a July 4th party at my dad's house. A few days ago, I sent my brothers and sisters an e-mail linking to Ron Paul's "Something Big is Going On" message, plus a message from Peter Schiff about the "Worst-Case Scenario." I also sent my dad RP's Manifesto book last month. My dad (76), an intelligent Penn graduate, pulled me aside and talked to me for 30 minutes, showing me his investment plan (stocks and bonds). He said I worried too much and I shouldn't have taken my 401K money out of the stock market. He said the market is cyclical and I shouldn't try to time it. I said I wasn't trying to time it, I just wanted out during this turmoil. And I said that I agreed the the market is cyclical, but this is a megacycle event coming up. The bear market of the 1970s lasted a long time, and I expect this one to last even longer. (Maybe more like the 30s, but I didn't say that because I knew what his reaction would have been.)
He told me that he read a book in the early 80s called "Crisis Investing" by Douglas Casey (which he just gave me) in which the author cried, "The sky is falling," just before the largest run-up of the stock market in recent memory. I told him that the conditions are a lot different (worse) than they were back then. My dad is afraid that if I keep my money on the sidelines, I will miss the next upward burst in the market. He is correct that these bursts are swift and unexpected (just like the downturns); I just don't see any upward bursts coming for several years.
Anyway, I think my family now sees me as a bit wacky with this RP stuff, even though I've been known as a calm, level-headed, somewhat boring guy all my life. I have failed to convince any of them of Ron Paul's wisdom, or even to consider parts of his message. I wanted them to protect their assets from the coming storm, and eventually to support the defense of the constitution. I admit that I have never been much of a salesman, but I can see why those of us promoting Ron Paul's message have a hard time converting a majority of Americans. I can't even convince my family.