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the same time Kim and I are buying a $17 million apartment house in Tulsa,
Oklahoma . . . and we are excited about it. Are we on the same planet?”

The New Capitalism

On August 9 and 10, 2007, as investors lost billions of dollars, the U.S.
Federal Reserve Bank was injecting billions of dollars into the banking
system, doing its best to stop the panic in the real estate, stock, and bond

markets. This injection of capital is an example of how the new capitalism
operates, an economic system built on debt and manipulation by central
bankers playing games with the world’s money supply. It’s almost like you
and I using a credit card to pay our credit card bills.

Later that week, I was asked to be a guest on two television and three
radio programs to comment on the crash. The hosts wanted to know what I
thought about it, as well as what I thought about the Federal Reserve
injecting cash into a crashing market, and whether the Federal Reserve

Bank should save the market by lowering interest rates. In all of my
interviews I said, “I don’t like the central banks’ manipulating the markets.
I don’t feel the government should bail out the rich hedge funds and
financial institutions, shielding them from their own greedy mistakes.” I

also said, “I do feel for the little guy. In one day, millions of hardworking
people, people who do not play games with money, watched their homes
decline in value in the real estate market, their savings decline in value in
the bond market, and their retirement portfolio decline in value in the stock

market.”
When asked if I was continuing to invest, I said, “Yes.” When asked if I
thought it was risky to be investing in crashing markets, I replied, “There is
always risk.” I then completed my thoughts by saying, “The ups and downs

of markets do not affect why I invest or what I invest in.”

Two Points of View

Although the question was not asked, I thought a better question might be,
What is the difference between the financial planner who was negative on