Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
One really, really, really bad day in a couple of bad years means the worst is yet to come... you could easily say when the DOW drops down to 10k and say well at least its not zero so its not so bad... perspective is key... what is your perspective telling you about the future? Bad things coming and people best be prepared for it instead of thinking "its not so bad" and when it gets bad, they can't adapt fast enough because they weren't prepared...
My perspective is telling me it will take a few years to get out of this correction that globally we were due for. China's growth was unsustainable. Buy some stocks now on the cheap and hold them long term. You always need to have a good percentage of your portfolio liquid. I've never been comfortable with more than 70% of it in stocks.
If you are looking for short term return, wall street is nothing better than going to Vegas and letting it ride.
Its funny but I bet a lot of the people who are overly scared about wall street haven't even taken care of their own home finances. Carrying second mortgages or being upside down on an ARM, no emergency fund, owing thousands on a 20% credit card etc. These are the first things to fix to become prepared for economic hard times, not selling your 401K.
What is going on ?? They are literally panicking on CNN. Oil at 139/barrel, DOWN is down more than 300 points. We are headed for disaster in this country
CNN loves panic. More people tune in for it.
I don't care what the DOW does. I make my money in the markets, up or down. Agreed, people with their money invested in RE cycles are about to be cut in half. But it's just another cycle. Those over 40 remember the last few cycles. Hold on tight and don't buy RE yet unless you can afford to throw that money away.
I don't recommend selling the 401k... I would consider maxing them out... this is a good time to buy SOME stocks... some are still overpriced, some are good deals, and some are just plain stupid (i.e. companies that are going to go bankrupt soon)... problem is nobody is panicking and by panicking, I mean managing their debts and income responsibly... people are going out and creating more debt for themselves when they should be saving and paying down debts.. their perspective is that there will be no recession and are willing to risk it... the risk? Their entire future... these people are idiots and will be the same ones I see in the future on television asking for handouts...
Originally Posted by myrc60 Thank you America for putting another BUSH in office. Osama set out to destroy America and he's doing a really good job of it. If you had not elected another BUSH this would not be happening IMO. In November we have another chance to keep the Republican's out of the White House; but will we do it?
Yes We Can!! And Yes We WILL!
I don't recommend selling the 401k... I would consider maxing them out... this is a good time to buy SOME stocks... some are still overpriced, some are good deals, and some are just plain stupid (i.e. companies that are going to go bankrupt soon)... problem is nobody is panicking and by panicking, I mean managing their debts and income responsibly... people are going out and creating more debt for themselves when they should be saving and paying down debts.. their perspective is that there will be no recession and are willing to risk it... the risk? Their entire future... these people are idiots and will be the same ones I see in the future on television asking for handouts...
I agree. Actually ,since I have a 20 year horizon, I'm buying more stock as I was almost 70% in cash after taking some money off the table selling some stock on their way up in 06-07. Dollar cost averaging helps smooth out some of the fluctuation of price.
People are acting like they will just get bailed out of their problems. They don't acknowledge that actions have consequences.
The Dow is not worrisome unless it starts to drop like a rock. Oil bothers me because the trend has been up, up, up. Yep, it might drop $10/barrel next week but over the next two it might go up $12--a net gain of $2.
What's really bothering me is that unemployment figure. THAT'S not going to turn in a week or two.
Well Hoover is in office but we will be fine anyway.
If this were the Great Depression, the crash of '29 would have been in January, and we would now be mid-1930 or so. By mid-1930, the stock market had risen back to early 1929 levels (as stocks reached 2007 levels in mid-May) and the people thought it would just be a short recession that was nearing its end. Wrong they were as people are wrong this time. A vote for McCain is a vote for Hoover. I am going to hold my nose on the social issues (which I am passionately conservative about) and vote Obama this time around. This country will not survive 4 more years Bush-McCain-Hoover policies.
If this were the Great Depression, the crash of '29 would have been in January, and we would now be mid-1930 or so. By mid-1930, the stock market had risen back to early 1929 levels (as stocks reached 2007 levels in mid-May) and the people thought it would just be a short recession that was nearing its end. Wrong they were as people are wrong this time. A vote for McCain is a vote for Hoover. I am going to hold my nose on the social issues (which I am passionately conservative about) and vote Obama this time around. This country will not survive 4 more years Bush-McCain-Hoover policies.
Wouldn't Obama's plan to raise the capital gains tax make stocks even less appealing and make commodities continue to rise, thereby furthering inflation?
Location: Jonquil City (aka Smyrna) Georgia- by Atlanta
16,259 posts, read 24,772,368 times
Reputation: 3587
Quote:
Originally Posted by NChomesomeday
The Dow is not worrisome unless it starts to drop like a rock. Oil bothers me because the trend has been up, up, up. Yep, it might drop $10/barrel next week but over the next two it might go up $12--a net gain of $2.
What's really bothering me is that unemployment figure. THAT'S not going to turn in a week or two.
The unemployment figure is not that bad. First of all it is June and June means WHAT? It means millions of people walking out of college with that degree and looking for jobs. Of course the number is going to spike but it is NOT because of any loss of jobs. In fact it was reported yesterday I think that we GAINED jobs last month. It is just because we have a temporary glut of college graduates and teenagers looking for employment. In the coming months, the numbers will look alot better.
The Dow is not worrisome unless it starts to drop like a rock. Oil bothers me because the trend has been up, up, up. Yep, it might drop $10/barrel next week but over the next two it might go up $12--a net gain of $2.
What's really bothering me is that unemployment figure. THAT'S not going to turn in a week or two.
The unemployment is being effected in that alot of people like married women are now seeking to get in the work force now that gas and other things have gone up plus housing problems.That and the recent graduates from college and high schools.More people that could afford not to work want a little relief and financial breathing room.Might even be some retireee that depend on the market for retirement earnings going to work.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
