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Old 09-29-2008, 12:21 PM
 
Location: DFW, TX
2,935 posts, read 6,114,503 times
Reputation: 571

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Quote:
Originally Posted by CatManDoo View Post
But we don't need it to pass...nah...we'll be fine....nothing to see here...
No... we don't need it to pass. The market needs to correct itself and factor risk into decisions rather than reducing risk factors due to government bailouts.

If you gave your child $5 for lunch and they spent it on video games, what action would reduce the risk of them repeating that behavior? Giving them another $5 to buy lunch, or letting them go hungry and learning fiscal responsibility?
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Old 09-29-2008, 12:25 PM
 
485 posts, read 1,657,777 times
Reputation: 384
Just in: Party leaders are going around the House of Representatives and threatening the Congressmen who voted no with loss of committee assignments, fundraising and influence. Votes will be changing by tommorrow.
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Old 09-29-2008, 12:26 PM
 
Location: Dublin, OH
2,363 posts, read 3,411,046 times
Reputation: 1473
Who cares, Wall Street wants us to bail them out, and Congress didn't give to them. Great job by Congress today. First time I've been happy w/ them in a long time.
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Old 09-29-2008, 12:27 PM
 
Location: Dublin, OH
2,363 posts, read 3,411,046 times
Reputation: 1473
Quote:
Originally Posted by Refugee56 View Post
Just in: Party leaders are going around the House of Representatives and threatening the Congressmen who voted no with loss of committee assignments, fundraising and influence. Votes will be changing by tommorrow.
Maybe those that voted against this, will change the leadership then. I'd like to see a full out uprising on Capitol Hill.
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Old 09-29-2008, 12:30 PM
 
438 posts, read 719,407 times
Reputation: 271
Good, now we should vote for a presidential candidate who was/is against a bailout (Hint: neither Obama or McCain.)
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Old 09-29-2008, 12:31 PM
 
Location: GIlbert, AZ
3,022 posts, read 4,510,853 times
Reputation: 2052
Quote:
Originally Posted by ohioaninsc View Post
Who cares, Wall Street wants us to bail them out, and Congress didn't give to them. Great job by Congress today. First time I've been happy w/ them in a long time.
So am I. But my quesiton for you money gurus? Isnt this huge correction good for me in the near future if I want to start investing. Once everying gets as bad as it can get, it can only go up right? I sold my home last year (for profit), cashed in my IRAs (lost my 10 percent penalty), and I am just sitting on the sidelines. Had I not cashed out, my net worth would only be worth 26 percent of what it was 8 months ago.
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Old 09-29-2008, 12:32 PM
LML
 
Location: Wisconsin
7,109 posts, read 8,097,509 times
Reputation: 5160
Quote:
Originally Posted by SuSuSushi View Post
If you're depending on SS to carry you through your retirement, then you didn't plan very well.

Well, in light of these past couple of weeks, that is not a very sensible response. I'm one of those who DID plan...carefully. I just retired 3 months ago and, supposedly, had enough in savings and investments to make my retirement comfortable as long as I was prudent. Guess what, I just watched my retirement money go up in smoke....despite my careful planning ...because of the greed and mismanagment of others. So today I am thankful that my SS was not invested in the stock market because it is about the only thing untouched.
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Old 09-29-2008, 12:35 PM
 
Location: DFW, TX
2,935 posts, read 6,114,503 times
Reputation: 571
Quote:
Originally Posted by Foreverking View Post
So am I. But my quesiton for you money gurus? Isnt this huge correction good for me in the near future if I want to start investing. Once everying gets as bad as it can get, it can only go up right? I sold my home last year (for profit), cashed in my IRAs (lost my 10 percent penalty), and I am just sitting on the sidelines. Had I not cashed out, my net worth would only be worth 26 percent of what it was 8 months ago.
A correction is needed, but even more important is reflection on why our economy is weak in the first place. So before you jump into the market, you should understand its long term prospects.
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Old 09-29-2008, 12:38 PM
 
Location: DFW, TX
2,935 posts, read 6,114,503 times
Reputation: 571
Quote:
Originally Posted by LML View Post
Well, in light of these past couple of weeks, that is not a very sensible response. I'm one of those who DID plan...carefully. I just retired 3 months ago and, supposedly, had enough in savings and investments to make my retirement comfortable as long as I was prudent. Guess what, I just watched my retirement money go up in smoke....despite my careful planning ...because of the greed and mismanagment of others. So today I am thankful that my SS was not invested in the stock market because it is about the only thing untouched.
So you sold all of your investments within the last 3 months?

Your SS income will not be affected by inflation?

Your SS income isn't dependent upon the contributions of those working today?
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Old 09-29-2008, 12:38 PM
 
Location: Far Western KY
1,833 posts, read 5,858,843 times
Reputation: 848
Crash??? It's down 4%, that's hardly a crash ... you must not play the market, A crash is 25% like in 1987 or 50% like 1929.

It's buy time ... there's money in them-there panicked traders.
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