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Sheri, I highly respect you for becoming a nurse. The medical field is pretty recession proof. I don't agree with leveraging yourself in speculative investments. You kind of focus on the upside if you are correct. I try to look at all the possibilities. If you are correct you will clean up. If you are wrong and stock prices slump another 50%? It might be unlikely but it is possible.
I haven't insulted you personally once. I didn't call you asinine, I called your actions asinine. People do asinine things regardless of intelligence all the time.
Ridiculous ... it's insulting either way.
Especially coming from someone who's having trouble qualifying for a mortgage.
Tell you what ... why don't you get your own financial house in order before insulting people about theirs. I can tell you this ... I haven't had any trouble qualifying for a mortgage even in this tight credit environment and even with VA's tougher debt to income ratios.
Sheri, I highly respect you for becoming a nurse. The medical field is pretty recession proof. I don't agree with leveraging yourself in speculative investments. You kind of focus on the upside if you are correct. I try to look at all the possibilities. If you are correct you will clean up. If you are wrong and stock prices slump another 50%? It might be unlikely but it is possible.
Stock prices slump another 50 percent? Not at all. There's been a ton of bad news in the last week and yet, the market is holding up pretty well. I'm convinced now more than ever that this is the bottom.
To me getting into stocks at 14K was speculative. The mid 8000's is a much safer bet since it's basically a bargain.
Stock prices slump another 50 percent? Not at all. There's been a ton of bad news in the last week and yet, the market is holding up pretty well. I'm convinced now more than ever that this is the bottom.
To me getting into stocks at 14K was speculative. The mid 8000's is a much safer bet since it's basically a bargain.
I am glad that you make time in your perfect life to debate those you obviously look down upon as being "lesser" than you here. Very noble indeed.
You only have to look so far as Japan over the past 20 years and the Nikkei and see what is within the realm of possibility. The Nikkei peaked at almost 39,000 back in 1989. It crashed initially to about 20,000, rallied back to 26,000 and has never been anywhere near there since. The Nikkei dropped almost 50% from 39K to 20K and has dropped another 60% since then. And, they have not even had a depression. Just a slowdown they cannot shake, why? Here is one take on it:
A unique aspect that contributed to the severity and longevity of the Japanese deflation was a cultural issue: the Japanese government intervened and did not allow structurally defunct companies to go bankrupt, thus tampering with the nucleus of capitalism (and Darwinism as well), creative destruction.
Sounds familiar? And this article was written in April of 2008, well before the stock market crash and the bailout began.
It is not wise to discount scenarios that have played out in recent history.
Tell you what ... why don't you get your own financial house in order before insulting people about theirs. I can tell you this ... I haven't had any trouble qualifying for a mortgage even in this tight credit environment and even with VA's tougher debt to income ratios.
Its funny that you are trying to dig up just about anything to try to insult me , because god forbid I think what you did investment wise was a poor choice.
You are just becoming belligerent at this point.... Nothing in that thread would suggest that I'm having trouble qualifying for a mortgage, I can qualify just fine. And I stated multiple times I'm likely to apply for it by myself. I'm concerned about getting a crappy rate if my wife is on the application because of something she did before we were married. Hence, why the question was regarding how they combine credit scores not "would I qualify".
Also, I would like to state again. That I haven't called you any names, rather
I suggested that what you did was foolish investment wise. You need to separate attacks on ideas you happen to hold and yourself. People on a forum aren't going to tip-toe around your sensibilities.
Nothing in that thread would suggest that I'm having trouble qualifying for a mortgage, I can qualify just fine. And I stated multiple times I'm likely to apply for it by myself. I'm concerned about getting a crappy rate if my wife is on the application because of something she did before we were married. Hence, why the question was regarding how they combine credit scores not "would I qualify".
Nice try but you made it clear that you can't qualify with your income alone ... you need hers but her credit sucks. Hence the Catch 22. Normally I wouldn't care to even mention it but I do have a problem when you turn around and call my financial decisions "asinine."
You've got to admit ... it's rather absurd.
Anyway, getting back to the markets ... the Dow was down this morning but now it's slightly in the green. Of course, that could turn by the end of the day but ...
It is not wise to discount scenarios that have played out in recent history.
There is also events in our own history. Although most think "It can't happen again", a lot of the conditions that happened before and during the 20's and 30's match today's conditions. The DOW went down 90% from peak over 3 years during the depression. A 50% haircut from today's prices would actually be an improvement over the depression era crash (Around 68% decline from peak).
Nice try but you made it clear that you can't qualify with your income alone ...
No I didn't. I quote myself "Regardless, most likely I will just put the mortgage in my name. But there are a few areas we're looking at where my verifiable income alone won't cut it." Note, I said ahem....verifiable income because well I'm largely self-employed and I can't easily document all my income because I shelter it for tax purposes.
Its just really odd that you are trying to make something out of a thread that is completely irrelevant to this one by misrepresenting what I'm saying in that thread! Its crazy. Seriously.
Also, I really don't care what you mention. It doesn't hurt my feelings, its the high level of belligerence that is annoying. I mean even if I had a credit score of 300, it wouldn't make your actions any less risky.
Quote:
Originally Posted by sheri257
I'm seeing a lot of stabilization patterns here.
I'm seeing a short lived bull that is already losing steam. The media has been all over "getting in the market" lately, apparently not too many people are buying into it.
By the way, look at the DOW during the depression. You'll see these "patterns" multiple times after the initial October crash..
I mean even if I had a credit score of 300, it wouldn't make your actions any less risky.
Yeah but, I doubt most people would take financial advice from someone with a credit score of 300 ... at least I wouldn't. That's about as bad as it gets ... paying no bills at all.
I guess you guys must really believe this is going to be a depression because that's the only way the market is going to go down anymore than it already has.
The market has already been down 45 percent ... that's an additional 15 percent from 2002-2003 ... which doesn't sound like much but it's actually 50 percent more than the last bear correction.
Bottom line: the bad news is already priced in. Now that gas prices are way down ... we're already in the recovery period.
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