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Old 08-08-2011, 05:04 AM   #15
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We close on our house next week. Why anyone is buying a house in this economy is beyond me but I am not asking any questions, "just show me the money". Realtor who is a long time friend said he thinks the housing market will continue to decline for probably another five years. Certainly another three. Thinking of keep the house check in cash for a while. Most likely until after the 2012 elections and the repercussions from whoever wins. We seem to be getting dragged down with various world economies.
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Old 08-08-2011, 08:54 PM   #16
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... Thinking of keep the house check in cash for a while.
After the day the markets had today , I think that's a VERY good idea. A practice I'm going to follow as more of my stocks stop out.

L--
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Old 08-08-2011, 09:05 PM   #17
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The market will be back, might take a while, but it will be back, always comes back.
Dream on.....

Current financial events have been steadily predicted by a vast array of financial experts, but Pollyanna types continually ignore the broader picture of disastrous and unrecoverable world-wide economic policies that have gutted and ruined large segments of world societies - and are rapidly and steadily turning OURS into a 3rd world type - the vanishing middle class!

You can "whistle a happy tune" all you like - but many of us may soon be doing so on empty stomachs!

YUP - the stock market ALWAYS comes around - and so does Santa Claus...

We ain't seen NOTHING yet - tomorrow, TODAY will be "the good old days"...

And believe me, being one of the "I told you so" minority gives ME no satisfaction...:(

.
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Old 08-08-2011, 09:58 PM   #18
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Dream on..... You can "whistle a happy tune" all you like - but many of us may soon be doing so on empty stomachs!
YUP - the stock market ALWAYS comes around - and so does Santa Claus...
We ain't seen NOTHING yet - tomorrow, TODAY will be "the good old days"... And believe me, being one of the "I told you so" minority gives ME no satisfaction...:(.
Oh, come on Gary... don't be such a naysayer! Gotta have faith, dude!
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Old 08-08-2011, 10:11 PM   #19
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Retired 11 years ago. Sweated bullets for three years after I retired. Company stock had tanked and that is where all of it was. Slowly it went up to 400% of old price and I got it all out and put it in a fixed fund and that is where it has stayed. No more checking prices every day.
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Old 08-08-2011, 10:15 PM   #20
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Within my 401K I have a money market option, Last week i moved it all into the MM I can leave it there as long as I want then can move it back to mutual funds but my
bi- weekly payroll dedution and 6% company match it still buying while stocks are cheap. Works for me
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Old 08-09-2011, 10:32 AM   #21
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Oh, come on Gary... don't be such a naysayer! Gotta have faith, dude!
LESEE now - USA credit rating downgraded, increasing efforts at a "World Bank" and abandoning the dollar as the world reserve currency (prelude to rampant USA inflation!) - Asia and other offshore countries owning America's debt amounting to more $$$ than our annual Gross Product. The failed housing market, and no more "normal" reserve funds available for additional "Stimulus" (that was a miserable failure anyway!) - and now talks of merely "printing more (worthless!) dollars" to pay debts - which serves only to devalue current dollars and erode our credit ratings even further. Dried up unemployment benefits so more unemployed have NO funds available to support them or their families - and banks are still holding so many homes in default that THEY are in increasing jeopardy of failure.

I could go on and on - there's a FAR larger world-wide economic catastrophe moving like a train wreck in slow motion that is TOTALLY unstoppable and inescapable - sure, there probably WILL be a USA in the next 10 years - but it WON'T be the one we saw 10 years ago - and MANY of us will NOT like what we will be seeing and experiencing!

Burying our heads in the sand and wishing on a star - or similar forms of denial only place individuals and their families at greater risk - and the results won't be pretty!

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Old 08-09-2011, 11:34 AM   #22
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If you had purchased $1,000 of shares in Delta Airlines one year ago,
you would have $49.00 today! If you purchased $1,000 of shares in AIG, you would have $33.00. If you purchased $1,000 of shares in Lehman Brothers, you would have $0.00 today.
But, if you purchased $1,000 worth of beer, drank all the beer, turned in the aluminum cans for recycling, you would have $214.00.
Therefore the best current investment plan is to drink heavily & recycle.
It is called the 401-Keg Plan
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Old 08-09-2011, 01:08 PM   #23
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...If you purchased $1,000 worth of beer, drank all the beer, turned in the aluminum cans for recycling, you would have $214.00.
Therefore the best current investment plan is to drink heavily & recycle.
It is called the 401-Keg Plan
How does that work with Wild Turkey bottles?
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Old 08-09-2011, 01:47 PM   #24
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banks are still holding so many homes in default that THEY are in increasing jeopardy of failure.
The major banks with their failing home loans are currently being bailed out with help from the feds via fannie mae and freddie mac, even more so then the general public knows. That is why fannie and freddie keep asking congress for billions of dollars every quarter with no end in sight. This assistance is not offered to small banks, that is why you will find so many small bank failures every week now. The new threat to big banks is commercial property foreclosures. With fewer small businesses, fewer retail spaces are being rented. These commercial loans are not backed by the fed at this time, and will cause big bank profits to dwindle.
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Old 08-09-2011, 04:11 PM   #25
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How does that work with Wild Turkey bottles?
That plan is reserved for those with very large potfolios.... and I'm sure it works quite well.

When my parents were young the future looked very doubtful because the world was at war...

When I was a grade school kid we regularly practiced nuclear attack drills buy diving under our desks while being told to not look at the flash. Not a bright future for a 7 year old.

When I was a teenager, my folks were convinced that the world was going to hell in a hand basket because the hippies were taking over and had no respect for our country.

Since then we have gone through several financial disasters which left most wondering what had happened to our country and if it would ever be the same.

I think the answer has always been that no, it won't be the same but it will still be the best in the world. The global economy has let the genie out of the bottle and there's no getting it back inside. The playing field has been leveled and I don't think that bodes well for our middle class. I'm certainly no financial expert but I can be counted along with those who think the crash of the past few days just might be a good wake up call to all Americans that we (USA) just can't keep doing what we're doing anymore and need to take some dramatic action. Strategies we've used in the past to influence foreign governments aren't working anymore and we're in need of serious change concerning how we manage foreign affairs, foreign aid, and our needs here at home.

JMHO.

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Old 08-09-2011, 05:15 PM   #26
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It can only go up now. We buy low and sell high, have for years and it'll be the same this time. Optimism always trumps pessimism, always.
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Old 08-09-2011, 05:27 PM   #27
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my folks were convinced that the world was going to hell in a hand basket because the hippies were taking over and had no respect for our country.

Your parents were (are) correct.
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Old 08-09-2011, 07:44 PM   #28
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Well Gary, guess the end of the world has not arrived just yet and we do not all have to go out and jump off the nearest building. Seems wall street boys are coming back, got a lot of nervous nellies to sell on the down market creating themselves a buying opportunity. oh well, keep preaching the sky is falling and you MIGHT be right some day. just my opinion.
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