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Old 08-23-2015, 09:10 PM   #1
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Is our economy on the verge of collapse once again?

Any informative thoughts out there? Are you prepared?

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Old 08-23-2015, 09:47 PM   #2
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Your guess is as good as anyone's at this point! Just protect what you have the best way you know how and pray!

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Old 08-24-2015, 07:28 AM   #3
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We're well overdue for a "correction". Just don't do anything out of fear - grab onto something and hang on for the ride!
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Old 08-24-2015, 07:52 AM   #4
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I don't think anyone knows for sure, but it isn't all about the USA. Lots of other factors driving the market (China, Greece, etc). I can't see it going way south but who knows.

I agree, grab onto something and ride it out. I think I'll just stop reading the news.
Jim J
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Old 08-24-2015, 08:02 AM   #5
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On of the personalities on the new this morning asked if we should be panicking. Never a good idea to panic and you can't take a loss if you don't sell. As usual, however, it looks like the US is the best place to be. Good luck to all.
Marty and Denise chased by Casey our GR
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Old 08-24-2015, 08:17 AM   #6
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They're predicting gas dropping below $2.00 by Christmas. It's down to $2.35 here. When we left S. Texas in March, I paid $1.94. Maybe $1,00 a gallon is in the future! Let the market float. Eddie Elk
1998 Pace Arrow Vision 36' w/460, '98 Saturn SW2, FMCA #388823, Gateway Getaways RV Club
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Old 08-24-2015, 08:23 AM   #7
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Ronald Regan once was quoted "The markets go up, the markets go down" and he was right. We WERE due for a correction - happens all the time in various degrees.....keep your stocks (mutual funds for us) well diversified, keep some cash around to last you 3-9 months and don't worry too much. We have been in the markets with our 401Ks and IRA;s since the 70's and we know that it is scary but until banks can pay interest again, there is really no other place to put your investments to help you keep pace with inflation. Some folks are very lucky and have good pensions to add to their social security....we just have our IRA's and 401K's......so we have appropriate diversification for our age, risk tolerance and lifestyle and ride it out. But we DID pay $1.90 for gas in SC last week - some rainbows in these market storms!!!!
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Old 08-24-2015, 08:23 AM   #8
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Not a good idea to try to grab a falling knife, just sayin.
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Old 08-24-2015, 08:50 AM   #9
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Don't take on any debt! The economy is in trouble. Where we live business's are closing people are out of work.
Bankruptcy's are up and there is no end in site. Our area is dependent on the oil industry. Because our idiot Government decided that oil would carry us through for ever.
I am so glad I don't depend on Government but I do feel for the young families that are struggling.
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Old 08-24-2015, 08:53 AM   #10
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This last spring while talking with the agent that handles our investments, he made a comment about a 'market adjustment' and to be ready for it to happen. We made some 'minor tweaks' to our accounts and intend to hold on for what ever happens. There is little that us 'normal' folks can do but sit back watch and pray!
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Old 08-24-2015, 09:00 AM   #11
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I just talked to an investment consultant who tried get me to invest in annuities that were tied to the index. I politely declined since I told him I didn't know where the market was going and he didn't either. I'm glad I stepped away.
Jim J
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Old 08-24-2015, 09:01 AM   #12
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Agree that if you don't sell it is not a realized loss. sureon paper it seems you are down in value, but just like after 2008-2009, it will recover. Question is how long and how far will it go down before it starts the climb back up. Most of the current drop is due to China and other global markets being down, the US markets are mostly a reaction top that.

So as others said, just ride it out and do not make bad decisions to sell if you do not have to.
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. 44 ft, Cummins ISX15 450 hp, 10 speed, twin screw
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Old 08-24-2015, 09:02 AM   #13
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The last time the market dropped like a rock a client of mine called in a panic and asked me what he should do. He didn't need to cash out and he was almost exclusively in mutual funds. I told him I'm not a broker but unless you need to cash out right now then just stop looking at the news.

One of my clients who has been incredibly successful in the market was moaning that he had "lost" over $300,000. I asked him if he had "lost" that amount from what he had put in. He told me that he "lost" it from its high. Well, then he really didn't lose anything because he was still way up from what he invested. My guess is that is the situation most folks are in.
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Old 08-24-2015, 09:07 AM   #14
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We never really had a recovery. The news people love this president and have covered for him. There are more people unemployed in this country than ever in history. The jobs that are being filled are low level, low paying jobs. The worst is yet to come.

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