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08-23-2015, 09:10 PM
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#1
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Senior Member
Join Date: Jan 2009
Posts: 488
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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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2005 Newell p2000i
Detroit /allison
2010 Avalanche
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08-23-2015, 09:47 PM
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#2
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Senior Member
Fleetwood Owners Club
Join Date: Apr 2012
Location: Tucson, AZ
Posts: 167
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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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Harold & Laura Buck
2000 Fleetwood Flair
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08-24-2015, 07:28 AM
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#3
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Moderator Emeritus
Jayco Owners Club RV Trip Wizard
Join Date: Oct 2009
Location: Poinciana FL
Posts: 7,781
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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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Jay and Peggy Monroe
"Can't take it with you, not leaving any behind"
2024 Jayco White Hawk 26FK
2024 Ford Expedition
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08-24-2015, 07:52 AM
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#4
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Senior Member
Monaco Owners Club
Join Date: Jun 2014
Posts: 14,602
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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.
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Jim J
2002 Monaco Windsor 38 PKD Cummins ISC 350 8.3L
2005 Jeep Grand Cherokee w/5.7 Hemi
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08-24-2015, 08:02 AM
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#5
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Senior Member
Freightliner Owners Club
Join Date: Dec 2014
Location: Chicago Area
Posts: 248
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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.
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Marty and Denise chased by Casey our GR
2020 4369 DSDP with '15 Jeep Grand Cherokee
'06 Monaco Knight 40 PDQ that served us well
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08-24-2015, 08:17 AM
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#6
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Senior Member
Fleetwood Owners Club
Join Date: May 2011
Location: summer-Cuba Mo./winter Somewhere in South TX.
Posts: 480
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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
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1998 Pace Arrow Vision 36' w/460, '03 Honda CRV, FMCA #388823, Gateway Getaways RV Club
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08-24-2015, 08:23 AM
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#7
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Member
Join Date: Mar 2015
Posts: 65
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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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SAVGirl
2014 Winnebago VISTA 35F, DH and Boston Terrier Fur Baby 'Bella'
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08-24-2015, 08:23 AM
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#8
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Senior Member
Join Date: May 2014
Posts: 428
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Not a good idea to try to grab a falling knife, just sayin.
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2017 London Aire 4519
2021 Wrangler Rubicon JLU
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08-24-2015, 08:50 AM
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#9
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Registered User
Triple E Owners Club Ford Super Duty Owner
Join Date: Apr 2013
Posts: 1,745
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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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08-24-2015, 08:53 AM
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#10
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Senior Member
Join Date: Mar 2012
Location: Palmer Ak
Posts: 1,136
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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!
__________________
2009 38' Diplomat
CSM- retired, wife as co-pilot
Reka & Ali providing security (our 2 labs)
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08-24-2015, 09:00 AM
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#11
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Senior Member
Monaco Owners Club
Join Date: Jun 2014
Posts: 14,602
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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.
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Jim J
2002 Monaco Windsor 38 PKD Cummins ISC 350 8.3L
2005 Jeep Grand Cherokee w/5.7 Hemi
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08-24-2015, 09:01 AM
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#12
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Senior Member
Join Date: Aug 2013
Location: Cincinnati, OH
Posts: 849
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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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2017 Renegade Verona 36 VSB
2005 Kenworth Showhauler truck conversion. sold .
I used to have a handle on life, but it broke
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08-24-2015, 09:02 AM
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#13
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Senior Member
Join Date: Apr 2010
Location: Western NY
Posts: 3,809
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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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2018.5 Entegra Aspire 44R-Sold, 2019 Chevy Blazer-Sold. 2022 Genesis GV-80.
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08-24-2015, 09:07 AM
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#14
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Senior Member
Ford Super Duty Owner
Join Date: Dec 2009
Location: Mcdonough, Ga.
Posts: 5,932
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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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1998 Pace Arrow 35 ft. F53 Ford V10 2014 Honda CRV toad
32 years mechanic at Delta Air Lines 15 year motorhome service manager. 3 popups....2 travel trailers....5 motorhomes....loved them all.
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