Her advice in the fall was for investors to take their savings out of the stock market unless they were young and in it for the long term. Even so, she wasn't keen on stocks much. Within days after her visit to Larry King, the stock market took a serious dip. When folks like Suze speak, ordinary people listen. They quote the expert and believe the person absolutely. That's particularly true since Suze Orman is as much entertainer with sizzle and spice, but not everything nice, as her advice may have in part set off some of the blizzard.
Folks like Suze Orman are in a central position to help or harm. Rather than speaking calmly and carefully, she becomes as much actress, using explosive terms "underwater" describing homes with voice inflections that bring the listener to an emotional pitch. She worries, frightens, and disturbs viewers telling them how absolutely dire everything is and how they have to move that minute. That strong statement in dramatic tones cannot help but raise a thermostat that is already high enough to cause a lot of people to sweat enough.
Orman gives random surveys about what she finds when she walks around, talks about losses, food stamps, bread lines---all of which is true, but the tone is what is of concern. She says "she doesn't see any light at the end of the tunnel" and that folks need to play like they are in a depression and put every single penny away.
Well I guess Orman doesn't understand the fundamentals of an economy, and that's without any money coming into the retail and service sectors, the economy will collapse even worse. That's one of the reasons that Barack Obama is asking for a bail out. Folks aren't spending so cars aren't selling, clothes aren't going off shelves.
But Suze Orman is there on Larry King Live to sell her books and her ideas. People show up to clamor for her help, spend their money on getting her written advice, and thereby continue Suze Orman in her designer clothes with high-top collars and silky looks and extravagant, exuberant lifestyle.
Suze Orman's advice book
is now a #1 bestseller, so the woman knows how to market herself. What folks may not understand is that Orman is to finance as Anne Coutler is to politics, full of emotional hype to get attention with pat answers meant to disturb, incite and get attention.
Orman just irritating. She's a certified financial planner, the type who can charge for advice.
Orman was "outed" in 2007
because she made more remarks about life than money. She admitted to having only 4% of her net worth in stocks and remarked that she could afford to lose those because her total net worth is $25 million. She also talked about her relationship with a female partner and referred to herself as a "55-year-old virgin."
With blonde drama behind the wheel, I'm not sure I'll get in the Orman car and go over the cliff. Nor do I want her to continue to lead the people behind her to drive in the same direction when she has a landing pad, and the country does not.