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MAIN STREET WISDOM Rob answered the poll - What's your dream job? I'd do a business TV show with Sandra Smith and Shibani Joshi. ;-) Rob Art answered the poll - What's your dream job? Being a philanthropist and being able to significantly support new battery technology, urban farming, clean energy production, education, small theater companies, and water use and clean water development in 3rd world countries. Know where I can apply for a job like that? Buying lottery tickets doesn't seem to be working out. Art Jim answered the poll - What's your dream job? If I could quit my job my dream job I would be working all over the world helping people and communities. Going into an area immediately following a natural disaster would be personally challenging and rewarding while helping the community get back on their feet. Next summer I have an opportunity to build a church in Mozambique and build an orphanage in Kenya. I expect to be unemployed and unable to afford my expenses to participate on these missions for my church (over the last 10 years I've participated in Africa and Peru in building 3 churches, and orphanage and homes for AIDS orphans as well as a project to a missionary training center). If I was working and had some time off I'd attend one of these projects. If I didn't need to work I'd work both projects and many more. Have a great day and a Merry Christmas Charlie. Sincerely, Jim Frank answered the poll What would be a good nickname for John Corzine? Jon "The Jersey Bomber" Corzine Bob answered the poll What would be a good nickname for John Corzine? A name for Jon Corzine is Jon" The Mattoff Trainer" Corzine Jeffrey answered the poll What would be a good nickname for John Corzine? Bum. Mark answered the poll What would be a good nickname for John Corzine? I would add Jon "Busted Banker" Corizone to the list. Deniece answered the poll What would be a good nickname for John Corzine? I was going to vote, but I like this one best, John "Not a Joke, Not a Joke" Corzine. John answered the poll How long is your typical vacation? I love your articles read them every day. I have worked in many different roles from grease monkey to electrician to now an executive at a fortune 500 company. 23 years there now, multiple international assignments, rack up 150,000 miles flown each year. yes I am part of the 1%. Have 20 paid days vacation per year. Lucky if I get to take a week at a time, mostly a long weekend here or there. Absolutely absurd & frankly negligent that this president could think of wasting my taxes on his 17 day vacation when inciting such ill will. This is a joke. Also never use all my vacation – end up forfeiting it at the end of the year, no pay just lost. In Chicago for meetings today through Saturday in meetings, get home Sat night around 10:30 then on a plane to Lima on Sunday at 6:30 – yes part of the "privileged set". Good luck and Merry Christmas Mark answered the poll How long is your typical vacation? Hi Mr. Payne, If you think about it, obama is the homeless President. He has no "Western White House" to go to. All previous Presidents in our lifetime, (with exception of Clinton), had a "HOME" to go to. Obama has no root system. No place to go back to for sanctuary, so his "Vacations" are because he is a "visitor in his own land". The man has no heritage and the legacy he leaves behind will be two versions of opposite poles. Good column, his speech form KC the other day reeks of Germany 1937. Mark Rebecca answered the poll How long is your typical vacation? We are farmers in the middle of the United States. We have been married 48 years and we have been on two long vacations, an eight day Hawaii trip and an eleven day Montana trip. We go on short two day trips occasionally. Only fat cats can go to Hawaii on a 17 day trip. But Obama is going on our dime, rather our trillions!!! Aron answered the poll How long is your typical vacation? Charles, At our Engineering firm we have a flexible schedule allowing us to take a couple days off whenever we feel like it, due to the nature of the construction industry and the possibility of an inspector shutting down a project over what they perceive to be a major crisis (typically a minor issue). In the 10 years I have been here I have taken a full-week vacation twice, and the owner has never taken more than Th/Fr-Mon/Tues weekend-straddling vacation. He does this every 2-3 months. Hope this proves informative. Chris answered the poll How long is your typical vacation? I take a Friday here and there for a 3-day weekend and to not lose my vacation time; however, I have 2 weeks that I never use. Who can afford to be gone that long and it's only going to be that much higher on my desk when I get back? I guess it shows that the Anointed One must not have much to do since he vacations and goes golfing so much. Chris James answered the poll How long is your typical vacation? You are so right on, I appreciate your comments, questions and have been a paid suscriber to your services for several years. I have turned 65 recently, so will be transitioning (slowing down) in the next few years, but I have not had a vacation or holiday in 39 years that did not cost me and only me. From owning a one Doctor office to a small group of physicians to now working in a multispecialty clinic, I have always had to make choices between paying for a vacation in more than one way. Of course there is the expense of motels, travel, etc, but there has always been the larger costs of lost income and the expenses of the office continues and increases. Our politicians have no idea, no clue. Thanks for the discussion. James Cynthia answered the poll How long is your typical vacation? Dear charles, I enjoy watching you on fox business and miss your insight when you are not there. I am retired from an airline for which I worked for over 25 years. When I started I was given pro-rated according to the number of days that were available for me to work any given year. The longer you worked there, the more time you received. I think the most I received was 3 five day periods which could be taken in any combination of days........ I considered myself fortunate to be able to have that much time. I did work as a flight attendant an average of 20 to 22 days a month during the best years. Keep preaching.....hard work makes for great companies and a great nation. Sincerely Cyndi Justin made a good point While preparing for his speech in Kansas, President Obama should brush up on his history. When Teddy Roosevelt was President, the United States did not even have an income tax. But I doubt President Obama will mention that in his speech. Claire responds to our poll - Is taxing the rich more the solution to fixing our economy? I don't see how taxing the rich will uplift the poor. The rich DO create employment, even those who do not own or operate businesses will frequently hire domestic workers, landscapers, etc., and will purchase luxury items thus creating jobs for those who manufacture the items, transport the items, sell the products or services, etc. ,etc. Being currently unemployed and having been to a job hunting workshop just this morning, it was evident that many were at this workshop to solely receive job hunting credits to satisfy the job application quota for unemployment compensation benefits and were, obviously, not interested in finding work. Some left the workshop early, after asking if their signing in qualified them for satisfying the requirement equivalent to 5 job searches, and some mentioned they "attend" such workshops very frequently in lieu of job hunting! As always, today's article is RIGHT ON! Please consider running for President of the U.S. to spread the word. Many thanks for sharing your tremendous insight. George responds to our poll - Is taxing the rich more the solution to fixing our economy? NO, it is not. "Is taxing the rich more...just a way to make people that aren't rich feel better?" Yes. I always enjoy your writing and am a big fan of your political posture - keep up the good work. Norm responds to our poll - Is taxing the rich more the solution to fixing our economy? No, it's not a way to fix the economy. Yes, it's a way to make people feel better. George responds to our poll - Is taxing the rich more the solution to fixing our economy? I voted "no" meaning that I it is just a way to make people that aren't rich feel better but I am not sure if my meaning will be properly conveyed.Best regards. I really enjoy your daily commentary via email. Deb responds to our poll - Is taxing the rich more the solution to fixing our economy? Increasing taxes on the rich is NOT the answer. I completely agree with your outlook and values. Randy responds to our poll - Is taxing the rich more the solution to fixing our economy? NO - I don't believe taxing the rich more is the solution to fixing our economy. I do believe that those of us who have prospered have an ethical responsibility to help our communities through philanthropy or creating opportunities for those less fortunate, but that is not the same as being forced to surrender your wealth to "equalize" the earning gap. YES - I think that "taxing the rich more" has the affect of making some "people that aren't rich feel better", but I also think this push to "tax the rich more" has a much more insidious intent. While I agree that a lot of the members of the liberal left have a desire to help the poor, I think the "architects" of this "tax the rich more" movement are really using that idea to focus the poor's anger for political purposes. You might consider this a euphemism for "class warfare by the poor against the rich", but I think the real strategy behind this is class warfare by the uber-rich against the American middle class. America has been the bastion of the middle classes dream to bootstrap themselves from poverty to wealth and pull their communities with them. While there are cases of the poor becoming rich all over the world, America has been the easiest place to accomplish that because of the Republics protections under the law. I think the American upwardly mobile middle class is a threat to the political and financial power of the uber-rich, and America's "poor" are being recruited (duped) into becoming the weapon of choice against that middle class. Colleen of Texas writes Dear Charles, I read your newsletters daily. We are retired and on a fixed income. Three years ago we pulled all the money out of the stock market and put it into silver. We realized we shouldn't have all our money in one basket. But, watching the stock market we anticipate a stock crash, as in the 29 crash, and are trying to keep our heads above water. Meantime we get very angry when we are told there is no inflation! These people do not go to the grocery store! The idea of leaving the food and gasoline off of the Fed numbers is the silliest thing. But, economists can make the numbers say anything by choice of input. Would we buy right now? Heavens NO! We just pray we do not see the violence many speak of as coming. I was a child in the thirties, but I remember the dignity of men who came to our door asking to mow or any other job for a sandwich. Mother never turned any of them away. She finally said something to one man about how many stopped at our house. He told her our house was "marked". He took her to the curb and there was a yellow line running down the curb. He volunteered to remove it. Mother told him no. My Dad had a job and this was the least they could do. This is the attitude I look for in people. Maybe one day I will invest again. But, I thank you for your very informative letters. Jeff responds to poll, Are you buying for a potential Santa Claus rally? After an 8% move up in only 3 days, you sound giddy with expectations of another monster move up in the near term. I know that you remember September of 2008 when the Fed came to the rescue with $700B. And, the market looked like it was bottoming that month...and the next month...and the next. Until it finally cratered down to the lows in March 2009. I appreciate your enthusiasm, but, Charles...I'm keeping my powder dry. This is another head fake. Jeff Ray of Astoria, OR, responds to poll are American’s tough enough to slow down spending? I voted 'no' but the answer lies in the age group you are referring to. Regardless of the clamor from AARP, 'older' Americans (say past 40) could and would accept a lower standard of living--temporarily--to 'fix' the problem. But a fix is not possible with the current group of spineless twits in Congress. And there is nothing temporary about fixing a $15 Trillion hole. The debt will outlive even the youngest of the 'older' group. Younger Americans will have none of it. They're too used to living on credit and have an entitlement mentality. Why save when you can have what you want now! Keep on pushing your views on the various Fox shows--you've got the right mind set. David of Omaha, NE responds to poll are American’s tough enough to slow down spending? Dear Mr. Payne, This morning I read your commentary and was amazed at the question you were asking your readers. While the question itself has merit, the fact that the question even needed to be asked is what I find so disturbing. Every year I sit down and watch “Band of Brothers”. Easy company 101st airborne. These guys were tough. Normandy, Holland, Bastogne, Foy, and the list goes on. They suffered one of the highest casualty rates of any company in WWII. In the movie they talk to the survivors. Each one of them would do it all over again. It is an amazing testament to the men of that generation, the citizens, and the country as a whole. It shames me to even think that we as a nation could not do that again. The nation rationed food. They grew victory gardens. They rounded up scrap metal for the war effort. They sacrificed all of this at the same time they were coming out of a depression. WOW! Today I am a 42 year old man that has worked every crappy job to pay my way through college and provide a better life for my children. Everything I have is directly related to what they built. I am an X generation. We will pull this country back together. My children will be the ones who employee the Y generation. The Y generation is a testament of the Baby boomers. It appears that every other generation will be the future of our country. The boomers need to go quietly into the night. Their philosophies are a classic example of a failure of thought. We have the strength to be the best again. We have the ability to be the best again. What we need now are true men and women, like Easy Company, that will lead with purpose. Fight for what is right and necessary. Sacrifice selflessly for their fellow Americans. Take the fight to those that would seek to enslave us with mediocrity, because they view political correctness and feel good policies as a right to be taken not earned. In conclusion we are the United States of America. There is nothing we cannot do. Our fighting spirit and sacrifice is our history. It is our culture. It is time for the people of this country who have for so long focused on making their lives and the lives of their children better to look up and take part in the change we need. Or others will attempt to take it away from us. We need leaders at every level. So the question to ask is not are we tough enough but, are we willing to be the leaders our country is so desperately starving for? “All that's necessary for the forces of evil to win in the world is for enough good men to do nothing”~ Edmund Burke MacGregor (Mac) of Franklin, TN responds to poll are Americans tough enough to slow down spending? Charles, The American people are tough enough, the politicians are not tough enough or honest enough. Both parties are overrun with disgusting elected officials who have little integrity. They use insider trading information, have a separate medical insurance program and have despicable retirement benefits. They hold the voters to high standards while they fleece the Treasury. We have a blueprint for recovery to the North - Canada. Our politicians do not have the guts to follow Canada's example, because they fear they will not be re-elected. Bill Wanamaker says I’m a subscriber to your service and like to read your daily comments. I’d like to respond to today’s comments on a police state. My first career was that of a deputy in the Los Angeles County Sheriff’s Department. And yes, I do share your concern about a police state. I believe that any society that does not understand what a police state is and what it looks and feels like is prone to a police state or other form of despotism. On the street, my philosophy was that my best defensive weapon was good manners. It served me well. I can tell you from experience however David, that good manners are wasted on mobs, and that is what this Occupy Wall Street has become, and it was merely a mob-seed from day one. Any sign of weakness, or anything short of overwhelming force and the willingness to use it results in mob attacks, including the mob’s lethal forces that “don’t look so bad” on TV. This includes rocks, bottles, cloaked knives and razor blades, and sticks, etc. Mobs play the “gotcha game” well. They apply these lethal weapons, which when done on an individual basis result in the suspect being arrested and convicted. But in a mob setting, and done in mass, or in a cloaked fashion, what happens? Weak-kneed bureaucrats extend the park permit (oh yah, they don’t have one, they don’t need it because they are not tea party people) and roll out another wagon of free food for them to digest and poop in street for you to step in on your way to work. BOTTOM LINE Any society that does not conduct itself in a manner that commands respect, will be trounced upon. It is shameful that so many small businesses in NYC and elsewhere, are suffering dearly because the institutions of the would-be civil society are not sufficiently connected with the sound principles of governance to know when enough is enough, and exactly when an assembly begins to trespass upon the rights of persons safely to walk on the streets they paid for with their taxes and not step in Occupier poop, both literally and figuratively. WHAT WE NEED 1. Statesmen [including Mayors] who master the principles of the Civil Society; 2. A public who are intellectually capable of identifying such statesmen and then electing them; 3. And most importantly, schools that hire teachers who understand 1 & 2, and will teach reading, writing, history, arithmetic, the classics, and the tenets of American Exceptionalism. We got here because no employer in their right mind would hire the Occupiers of the 1960s. So employers who were demonstrably not in their right minds, i.e. public (government) schools, did hire the 1960s occupiers, and those Occupiers increasingly occupy the ranks of teachers who are poisoning the minds of subsequent generations. This results in YOU paying for the police overtime, park cleanup, and the food that occupiers eat and leave on the streets you paid for, now to step in. Spencer from Alabama responds to poll, Are Americans lazy or is the work ethic as solid as ever Ease up my friend. It's not so bad down here. Come on down and I'll show you around. You are all too correct about Uniontown and much of America that has and is learning to do nothing and being paid for it. I'll tell you a true story of a friend who was teaching her 7th grade public school class about occupations in today's world. A young boy not paying attention to the class was asked why. He replied he didn't need to know about the stuff she was talking about. She asked about the work he planned to do after school. His reply was he would get his check out of his mail box and if he needed extra money he would catch some fish and sell them. This young boy has been trapped by us, you and me and all of America, in a life of something for nothing. A hopeless situation? Not really. Remember what he said about the need for extra money. He knew at his young age that he could work for what he needed. He also knew he didn't have to work to live. We will never improve America, or Uniontown, until we are willing to cut off support to those who can work. When we do, those who are not working today will find away to raise their own support and those who are working will get to keep more of what they are earning. Have a great day you hard working man, Spencer Tom responds to Charles' question have you lost faith in investing? I have not lost faith in investing. We need to experience the bad as well as the good. We are quick to complain and blame every one or anything for our greed and expectations of returns in the stock market. We can not begin to understand the good times we had, if we do not experience the not so good times. It is easy to make money when the market is moving up. We need to revaluate our goals and be patient as the market will turn when it is ready. I enjoy your WStreet Market Commentary Thanks Tom Doug in Tampa writes; In 1979 I was a project manager for a motivational seminar business in San Francisco making $20,000. Net worth $0. Shortly thereafter I started with a new CA hair-cutting franchise system. In 2001 my business income peaked at $600,000. After 20 years in the business, we had 50 retail stores and about 500 employees. We paid millions in corporate and payroll taxes over these years. In 2004 we sold the last of our businesses back to the parent company, net worth about $3mm. I am the grateful son of loving, middle-class parents: an aeronautical engineer father and devoted mother who made sure I got a good education. My only privilege was God's gift of life and my loving, well educated, competent parents. The rest I earned. Notably, mentors and friends have assisted me along the way. Without their substantial assistance and guidance, I would not have achieved the success I have enjoyed. Perhaps the message should really be how very important it is to be a good mother and father. And, for children to honor and respect their parents. (I have heard it said, 'If boys don't have a loving, bonded relationship with a principled father, they don't develop empathy, and this dysfunction becomes permanent.' Feral children who arrive back in society after the age of about 8 cannot break the language code and therefore cannot join humanity as we understand it. This begs the question of children's values and principles being hard wired by the time they are about 10. Our parents are pivotal. For children lacking two loving, well educated parents, the future is tough. The welfare state has shattered families, the 'left' stokes anarchy, narcissism and the politics of envy. The government school system is toxic and these 'children' are now bearing children. How do we boot strap 'parenting' in this destructive environment?) Next year I am 65. We have elected to not start another business in the US due to onerous taxation and regulation. I am syndicating a farming project in South America where we will relocate as our home base next summer. As always, I appreciate your competent, diligent work and ethical approach. All the best Doug Bell Tampa "Socialism works great until you run out of other people's money." It is theft, and as such, people endorsing this are criminals with slick justifications for stealing from their fellow citizens. This larcenous thinking has severely damaged peoples' critical thinking and problem solving ability. Increasingly unable to hire ethical, competent employees, we sold. Gary responds to Charles' question have you lost faith in investing? Dear Mr Payne, I have been contributing to a 401k plan for the past 26 years with varying company match percentages and making the maximum contributions for about the past 12 of those years. I am embarrassed to say I don't know what, if any, real growth my account has had over all those years. Yes the balance grows as I and my current employer continue to contribute but real earnings growth is not even close to the 8 - 10 percent everyone said would happen. OK so my investment choices, limited though they were, were mine and they haven't done as well as I had hoped. I have lost money over the last 10 years. That I do know. Nevertheless my 401k balance is fairly substantial at age 54 and now I worry only of preserving the principle. I am unable to go to cash in my 401k plan and meanwhile the market is controlled by trading algorithms and hedge funds which scares me to death. To be honest, the wild swings lately in the DJIA has me in a near panic. My company's 401k plan does not allow for in service withdrawal or rollover so I'm actually contemplating changing jobs, if only to get my hands on my 401k to roll into a self-directed IRA for the opportunity to buy physical gold and real estate. If all goes south, at least I'll have somewhere I can move into and maybe a little bling to go with it. I do trade in the market with a small amount of after tax money and do just as well there as I do in Vegas. Short answer is I am definitely short on faith in investing. Gary -Houston Sandra responds to Charles' question have you lost your faith in investing? OK so they don't want you to mention God yet every successful business in American was built on Godly principles. Sure the big shots don't going around saying this is a God thing but the principles they apply come straight from the Bible! Don't get me started... What I want to say is without HOPE the people parish and what we as a country have to continue to do is have hope! If we stop investing and stop taking risk we will loose for sure! As Edmund Burke said: "All that is needed for evil to triumph is for good men to do nothing"! There is nowhere else to go and get ahead so we had better hold fast to our foundation. Sandra Tullahoma, TN 37388 George responds to Charles' question have you lost faith in investing? Hell no! Today is a good day to buy. Give it a couple more days, a couple weeks, a couple months, after we have stopped obsessing on all those European jackass dandies, our holdings should be looking good. Stay with it! George Rochester, NY Kate responds to Charles' question have you lost faith in investing? The answer is "yes". I only started investing last December (2010), and each month was only able to invest $500. Well, the market started crashing, over and over. Not to mention the 5% fee I had to pay ING (big mistake) per share. I pulled out because I realized after much research that this was an astronomically high fee, but after that it was hard to get back in since I had already lost hundreds of dollars (after only a few months of investing!). I know that it is always better to invest for the long run, and history tells us it will go up again. I believe this is true, but I have no faith that it will be any time soon. "Any time soon" is also an understatement. Sometimes I think it could be tens of years until we get back on our feet, we (our country) are so lost that the lack of trust as a whole, I believe, will keep us down for much longer than we need to be. I cannot handle the idea of losing the small amount of money I have, so I will continue to save until I feel safe to invest again. Who knows how long that will be. Thanks, Katie Jim in SC responds to Charles' question have you lost faith in investing? I have not lost faith in investing. I still believe there are very good businesses in key industries across the board that will continue to earn profits and grow shareholder value well into the future. Will they suffer setbacks when the whole economy tanks yes, and if they fall too far my protective stops will kick in to limit my downside. What many people call investing today is really gambling. They are taking a chance on a company rising to the sky over night and cashing in with a windfall. They have lost faith because the market has educated them very harshly as to what the reality of investing is not about. The stock market is an opportunity for individuals and institutions to put aside money into companies and industries that represent their best chance to grow with the ebb and flow of that particular business. It is not a bet on when and how a company will take off on the charts. Most people today that have lost faith in the markets are probably the same one's who mortgaged their futures to the belief that real estate always goes up and that deficits do not matter. My faith is anchored in the Lord Jesus Christ and my belief that as long as I am alive, He has a purpose for my life and he will provide what is necessary for me to carry out His will for my life. Our Nation was founded on Divine Establishment Principles and we, as a nation, will suffer for turning our backs on those principles. History is littered with nations who used the establishment principles to grow only to fall when they reach a pinnacle of success which they took all the credit for achieving. Most of these nations had similar things in common: 1. They stopped being what they were, i.e., Rome was founded as a Republic, as well as, Greece and became democracies. 2. They spent more than they took in 3. They wasted the cream of their youth on foreign wars 4. They taxed the earners in order to provide for the nonearners. Sound familiar. Longer than I wanted to go, sorry for the soap box, but you asked about my faith and beliefs which I fell obligated to express in the hopes of turning some one around one soul at a time. Jim George writes in response to Charles' question have you lost faith in investing? AMERICA. . . . . . . . I have blessed and protected you for 200 plus years with your faith based constitution and behavior, but lately you have deviated with laws and practices that are VERY DISTURBING. The stench of corruption, pride, greed, promiscuity, irresponsible financing, abortion, divorce, irreverence, moral decay and your attitude of "In your face Lord" has reached my nostrils. BEWARE: My "slow to anger" has faded. . . . . . . . . . . . GOD Mark in Camas, WA has this to say in response to Charles' question if you lost faith in investing Dear Charles, Faith in investing is a question that for myself comes down to looking at the longer term even as we get hammered and then buoyed up with the daily ebb and flow of the news and its effect on the markets. What I find annoying are the daily headlines on the Europe Crisis. It is like every day the headlines are the market is up on reduced fears then the next day it is down because of increased fears. At some point this becomes old news which I am surprised the markets haven't begun to yawn at. This is not to say that the crisis is not real but that rather it took more than a day to create and it will take more than a day to correct. If you put the crisis in perspective according to your morning report, Americans will spend more than $800 billion dollars on gas alone this year. That nearly equals the European crisis and yet it is not assumed that it will sink the economy. This is where faith in the markets comes into play. Faith is looking at the direction of the overall effort to correct the underlying economics and not looking for a magic bullet to suddenly solve the problems. Out of the disarray in the market is the fact that in either direction it creates movement and that creates the opportunity to make money. Faith is being in the markets to take advantage of the movement hopefully 51% on the up side. An economist who's name I didn't get talking about the Washington State economy finished his remarks by saying that "Americans should turn off their TVs and go about their business". Faith is looking around and seeing the local activity in stores and restaurants, movie theaters, and traffic perhaps realizing that not everything is negative. Keeping the faith, Yours truly, Mark Dave has this to say in response to Charles' question if you lost faith in investing Dear Charles, Love to see you and hear your insights. I have not lost faith in investing because I have never placed my faith in investing. My faith is in the One who guides and directs us all. My investing is based on the skills and wisdom that God has provided me. It is a tool. In the end, just ask Steve Jobs, all the money in the world cannot prevent the inevitable……….death. My trust is in the Lord but while I am here on earth, I will use the tools he has blessed me with to help family and others in need. You Rock. God Bless, Dave Laus Albert Einstein: "Great spirits have always found violent opposition from mediocrities. The latter cannot understand it when a man does not thoughtlessly submit to hereditary prejudices but honestly and courageously uses his intelligence." Henry in Texas has this to say in response to Charles' question about if you lost faith in investing Charles, It’s not that I have lost faith in investing because you can always find something to buy. What is hard to determine is the mind set of the market day to day. One day it looks at one thing to determine the direction of not only the market but also individual stocks then the next day it is something else. I can’t tell you how many times I have purchased a stock and gotten what the previous day was great news only to have the market crater the stock. That’s what has been frustrating. Yours truly, Harry P.S. Keep up the great work on FOX. Harry R Craig Bernard of Texas says Mr. Payne, I have not lost faith in investing. I have lost faith in the mgmt. companies who churn out a 2% fee no matter if the market is up or down. They don’t care as long as the “little guy” keeps pouring his hard earned 401k & investment money into the market each and every month because that’s what they are “supposed” to do. We just take the ride up and down and hope that over time we can come out better that stuffing that money in our mattress. I am college educated (my wife has her Master’s in education as well). We are the first in both our families to graduate from college. I have a better than average job and a nice house in the DFW area. Guess what …. No one ever GAVE me a darn thing. Hard work got my wife and I where we are today. NOT the government or anyone else….. My kids will work harder and smarter and will do BETTER than me. That is all we can hope for as I keep putting my $16,500 in my 401k each year is hopes of a bright future. Cheers …. Craig Bernard Mark Swenson of Camas, WA writes Dear Charles, Faith in investing is a question that for myself comes down to looking at the longer term even as we get hammered and then buoyed up with the daily ebb and flow of the news and its effect on the markets. What I find annoying are the daily headlines on the Europe Crisis. It is like every day the headlines are the market is up on reduced fears then the next day it is down because of increased fears. At some point this becomes old news which I am surprised the markets haven't begun to yawn at. This is not to say that the crisis is not real but that rather it took more than a day to create and it will take more than a day to correct. If you put the crisis in perspective according to your morning report, Americans will spend more than $800 billion dollars on gas alone this year. That nearly equals the European crisis and yet it is not assumed that it will sink the economy. This is where faith in the markets comes into play. Faith is looking at the direction of the overall effort to correct the underlying economics and not looking for a magic bullet to suddenly solve the problems. Out of the disarray in the market is the fact that in either direction it creates movement and that creates the opportunity to make money. Faith is being in the markets to take advantage of the movement hopefully 51% on the up side. An economist who's name I didn't get talking about the Washington State economy finished his remarks by saying that "Americans should turn off their TVs and go about their business". Faith is looking around and seeing the local activity in stores and restaurants, movie theaters, and traffic perhaps realizing that not everything is negative. Keeping the faith, Yours truly, Mark Swenson Camas, WA Judy Kempf says Charles, No, I haven't lost faith. As Ayn Rand says: "Faith” designates blind acceptance of a certain ideational content, acceptance induced by feeling in the absence of evidence or proof." I don't do faith. I have lost confidence in investing due to facts in reality. I see the government spending and debt, the manipulation of the market, the endless regulations. I see this country moving in the direction of Europe and I see what has happened there. I see the massive underwater pensions and mortgages and Obamacare and unemployment figures. I also have no idea of what I don't see...what manipulations are happening behind the scenes. I've saved and invested my whole life. I did all the right, moral things and now I have no idea what to do to financially protect my life. But faith has nothing to do with it and reality has everything to do with it. With great respect for you, Judy Kempf Tom a fan writes Charles - I saw your impassioned point of view on Fox News at the Occupy protests this morning. Nicely done! I am sure you have thought of this, but my reaction to Elizabeth Warren's argument is this: Fire departments, ambulances, schools and highway projects would not have the funding they need without the tax dollars paid by corporations and their employees. Teachers and other government employees take in tax dollars as income and pay back a portion as taxes, merely recycling tax revenues. Only private sector taxpayers, like corporations and their employees, inject new dollars into government coffers. Without Corporations, there would be no schools, fire departments, ambulances, and highways. Without the tax deductions ("loopholes") that "the wealthiest one percent" take advantage of, there would be far fewer food banks, homeless shelters, or other charitable non-profits that rely on tax-deductible donations. Best, Tom Desjardin A fan Kevin of New York writes Charles, Thank you for providing a voice for those of us who actually contribute to society. I found myself cheering wildly when you were speaking reality to the individuals that lack any sense of responsibility for their respective situations. I too came from humble beginnings, served in the military, worked several jobs while completing my education and enjoy a very rewarding career. I am one of those evil people that make over $ 200k a year to provide my family a lifestyle I could only have dreamed of. Many believe the wealthy just roll out of bed one day and " tada" they are wealthy. One question for the so called occupiers. What the hell have they done in their lives to "earn" success ? For those of us working each day and getting robbed by the entitlement class, thank you and please don't let up! Kevin Jim writes on October 16, 2011 Greetings to you. I am a Commoner. I saw you on Fox News down on Wall Street. I am at the bottom end of the monetary chain, but please Mr. Payne, "DON'T" let "ANYBODY" from those Pinheads down on Wall Street back you into a corner. "I" am there with you and for you!!! I thank you a great deal for standing tall for allllllllllllllllllllll of us that believe in Capitalism. Please stand tall for this Commoner that thinks "VERY" highly of you as a person, that has worked hard in his life, and has some wits to him. God's Blessings. Robert writes: I'm a fan of FOX news and capitalism. Thanks for having the balls to be in and around the idiots protesting Wall Street. I'm currently between jobs and doing pretty good trading. If it wasn't there, I wouldn't be able to finally be home, make some money, and spend some quality time with my kids. Those union slugs and "activists" need to recognize that motivation, education (not necessarily from a classroom) and having some cojones can make you successful. Jim Terry of Ontario Canada Good Morning Charles, Your commentary this morning was excellent. I appreciate your common sense. I had a look for your blog to post my appreciation but couldn’t find it. Keep up your excellent work. God bless, Jim Andrew J Shand of California Your correct, Mr. Jobs could not have made it without investors from Wall St, however, the Wall St protesters are railing against the corrupt practices of corporations who lobby/influence government to enact policies that are detrimental to the general populace. Capitalism is best defined as: "a market system with no interference by States" By any stretch of the imagination, we cannot say there has been no interference by the States. In essence, what we have now is Financial Capitalism, which is the final stage of capitalism, ending in financial instability, depression and political transformation, the likes of which we are witnessing on Wall St and other parts of the World. You have my blessing to post on your website. I enjoy 99% of what you write, and look forward to your daily wisdom. Regards, Andrew J Shand Daliah Amar from NYC This morning passing all those Occupy Wallstreet protester sleeping in the park, I was fuming. They were sleeping, and I was going to work. I thought to myself that I when I was 23 I had already worked for 3 years full time at ATT, had a daughter, and was a union worker. It wasn’t enough for me. Most of my peers had been in their jobs 20-30 years. They loved their 2-15 minute breaks, their 45 minute lunch break, and time and half overtime, if they worked even a minute over, double time for Sunday, and double and half for holidays. Nope, it wasn’t enough for me. So I busted my a-- to get promoted and work my way up the corporate ladder. I was not home at 430 or 5. Actually, I worked most days 12-14 hours minimum. I traveled a lot. And, along the way, I became a single mother with no child support and no help from anyone. I wasn’t entitled to anything other than hard work. These people are sitting around blaming everyone for everything that they don’t have rather than making something with their lives. Instead of protesting, go to work. Instead of sleeping while I am on my way to work, get up and get a job. I cant stand all this loathing, righteous crap. I have no pity for them. I don’t have a college degree, only a technical diploma. I don’t owe anyone anything other than my own resolve and sheer determination to give my daughter a better life. Elizabeth Warren and those darn protestors can kiss my derriere….and in case they need it simplified for them they can kiss my dairy air.

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