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Yes, tommorow is another very tough day for us. The world markets are CRASHING! They are in uncontrolled freefall! This is turning out to be mayhem.
Why aren't these clowns in our government doing something, they are the ones who said everything is going to be fine.
Nikkei down almost 10%
Indonesia has halted trading after spiraling 10%
I'm generally an optimist and it's not the end of the world but BAD BAD BAD times ahead!!!
Philip, I am speaking about the American people most of whom have portfolios comprised of mutual funds and stocks.
I don't own any stocks either, I liquidated everything last October at the VERY top of the market and haven't lost a dime. By some good fortune I also switched jobs at the exact same time and got the opportunity to rollover my 401k to an IRA which I left in cash reserves uninvested because the market seemed like a bubble. Fortunately my hunches turned out in my favor
BUT, if the markets keep imploding like this we may not have a JOB pretty soon!
Philip, I am speaking about the American people most of whom have portfolios comprised of mutual funds and stocks.
I don't own any stocks either, I liquidated everything last October at the VERY top of the market and haven't lost a dime. By some good fortune I also switched jobs at the exact same time and got the opportunity to rollover my 401k to an IRA which I left in cash reserves uninvested because the market seemed like a bubble. Fortunately my hunches turned out in my favor
BUT, if the markets keep imploding like this we may not have a JOB pretty soon!
Not from what I follow -- only half or less have "portfolios comprised of mutual funds and stocks."
That says around half, and it is the not the half I tend to have too much concern for.
Not too worried about the job thing either -- this mess has been called out for years in advance. Shifted towards energy and food a couple years after studying Peak Oil. I figure I will wind up feeding some 100 others if things go really South.
Even if energy and bs bank accounting had not taken the stock market down, it would have collapsed as soon as boomers tried to retire on this crap, anyway.
It is just like water seeking its own level. In truth it is worthless, and just becoming what it is.
What do you think the government should do? The equity markets are too big for the government to fix. Like housing the equity markets will correct to their fundamental value. Stocks won't fall forever as at some point the dividends will look rather attractive.
The sad (or funny....depending how you look at it) is that a lot of people over 50 are heavily invested in the stock market. Even mainstream finance does not recommend this....yet they did it hoping for riches. Anyhow, a lot of people are going to have to learn the hard way that a risk free 9% a year return does not exist.
What do you think the government should do? The equity markets are too big for the government to fix. Like housing the equity markets will correct to their fundamental value. Stocks won't fall forever as at some point the dividends will look rather attractive.
The sad (or funny....depending how you look at it) is that a lot of people over 50 are heavily invested in the stock market. Even mainstream finance does not recommend this....yet they did it hoping for riches. Anyhow, a lot of people are going to have to learn the hard way that a risk free 9% a year return does not exist.
The G started this mess with the whole 401K, Keogh and all the rest of the "retirement / investment" rot that was used as a taxation backdoor to get the working slobs to mindlessly turn over their money to the brokers -- sort of like GW's wet dream fantasy about jacking Social Security and sending it to the stock market and brokers. [Can you imagine if the idiots had pulled that scam? Let me hear again about the wonders of the free market and uber capitalism]
Get the G (and the working slobs) out of "investing" in wantabe bling bling wigger mindset corporate d-bags, and let the chips -- blue chips, included -- fall where they may.
Does anyone here really think the typical CEO gives a rat's @ss beyond their next set of stock options? Let the options and CEOs assume their true value.
btw, as far as returns on money -- I routinely give returns of around 20% annual to folks that put money into my business operations, and never place them at undue risk.
The G started this mess with the whole 401K, Keogh and all the rest of the "retirement / investment" rot that was used as a taxation backdoor to get the working slobs to mindlessly turn over their money to the brokers -- sort of like GW's wet dream fantasy about jacking Social Security and sending it to the stock market and brokers.
Yeah, the social security system is in much better shape? There is nothing wrong with 401(k) etc, the problem is people are investing in get rich schemes. They are doing things that even mainstream financial advisers would not recommend. But at the end of the day, I would much rather save my for my retirement then let the government do it for me. They after all haven't done a very good job. The problem is not 401(k), etc its that people are too heavily invested in stocks. You don't need to own a single stock in your 401(k).
Quote:
Originally Posted by Philip T
btw, as far as returns on money -- I routinely give returns of around 20% annual to folks that put money into my business operations, and never place them at undue risk.
Yes, because investing in your business is some how different than investing in publicly traded companies on the stock exchanges......
Quote:
Originally Posted by Philip T
Does anyone here really think the typical CEO gives a rat's @ss beyond their next set of stock options? Let the options and CEOs assume their true value.
And in what sense are the CEO not getting their true value? Nobody forces a company to pay its CEO millions. Should we start to regulate CEO pay? Should we regulate how much profit you can make in your business?
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