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Old 12-10-2008, 05:09 PM
 
Location: Forests of Maine
33,343 posts, read 54,743,218 times
Reputation: 23963

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I served in the Navy from 76 to 83, attended college 83 to 87, and went back into the Navy in 87.

I had a few job offers during that period of time, however I valued the 20-year pension more. Which was the reason why I went back into the Navy.

I bought a rental property in Southern California, and one in Scotland during this period of time.

This 'crash' did not effect me, that I am aware of.

Certainly nothing of the nature to compare with 1929.

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Old 12-10-2008, 05:21 PM
 
Location: Virginia (soon Ellsworth)
653 posts, read 1,797,227 times
Reputation: 328
forest, if you went in the market in after oct 87 you would doing very well, that just right after the quick crash in oct 1987.


Quote:
Originally Posted by forest beekeeper View Post
I served in the Navy from 76 to 83, attended college 83 to 87, and went back into the Navy in 87.

I had a few job offers during that period of time, however I valued the 20-year pension more. Which was the reason why I went back into the Navy.

I bought a rental property in Southern California, and one in Scotland during this period of time.

This 'crash' did not effect me, that I am aware of.

Certainly nothing of the nature to compare with 1929.

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Old 12-10-2008, 05:50 PM
 
Location: In a van, down by the river.... LOL
21,347 posts, read 7,948,611 times
Reputation: 33323
'87 doesn't compare to '29, but it was a deep, stiff bang for many folks. The 70's were far more intense as far as crappy economics than 87, but again, a total joke compared to 29. THIS economic period is so far a joke compared to 29. I refuse to buy into the OH WHOA is us mentality. It just makes the problem grow. Look how fast everything freakin' tanked once the guvment came out with their DIRE warnings!!!! Everyone ran for the dam* hills! TOTAL overreaction and panic. I half wonder if it's all a conspiracy for social change. Wouldn't surprise me at the ripe, cynical age of 51.99%. lol I mean really.... wth did they think would happen as soon as they came on the air waves with alarm bells ringing like that? They knew exactly what would happen, that's what. We were slowing down bit by bit until then, then chit hit the fan and total panic has ensued since then. No one knows whether to chit or get off the pot!
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Old 12-10-2008, 06:53 PM
 
8,767 posts, read 17,393,519 times
Reputation: 3510
Quote:
Originally Posted by CoastalMaine View Post
'87 doesn't compare to '29, but it was a deep, stiff bang for many folks. The 70's were far more intense as far as crappy economics than 87, but again, a total joke compared to 29. THIS economic period is so far a joke compared to 29. I refuse to buy into the OH WHOA is us mentality. It just makes the problem grow. Look how fast everything freakin' tanked once the guvment came out with their DIRE warnings!!!! Everyone ran for the dam* hills! TOTAL overreaction and panic. I half wonder if it's all a conspiracy for social change. Wouldn't surprise me at the ripe, cynical age of 51.99%. lol I mean really.... wth did they think would happen as soon as they came on the air waves with alarm bells ringing like that? They knew exactly what would happen, that's what. We were slowing down bit by bit until then, then chit hit the fan and total panic has ensued since then. No one knows whether to chit or get off the pot!
This downfall is a long overdue correction. Too many people have been living off the labor of too few for too long. You can't peddle bu77shlt for ever and make a living off the profits. There has to be a certain tangibility to the market or it is nothing but air. Take the dot com frenzy of the 90's...nothing but air. How many IDIOTS lost their shirts throwing money at that load of snake oil?? Deservedly so. The old saying that if it seems too good to be true.....There were a great many who never heard that addage.

Just the day to day volitility of the market should be enough to keep anyone with a brain from investing in the stock market today.
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Old 12-10-2008, 07:31 PM
 
Location: In a van, down by the river.... LOL
21,347 posts, read 7,948,611 times
Reputation: 33323
Quote:
Originally Posted by Maineah View Post
This downfall is a long overdue correction. Too many people have been living off the labor of too few for too long. You can't peddle bu77shlt for ever and make a living off the profits. There has to be a certain tangibility to the market or it is nothing but air. Take the dot com frenzy of the 90's...nothing but air. How many IDIOTS lost their shirts throwing money at that load of snake oil?? Deservedly so. The old saying that if it seems too good to be true.....There were a great many who never heard that addage.

Just the day to day volitility of the market should be enough to keep anyone with a brain from investing in the stock market today.
Everything in economics is cyclical, but to have the market tank at the same time as the loan debacle is a heavy load on a lot of innocent people. And the huge tanking occurred mainly after the government came out with the doom and gloom predictions. Everything was humming along and then POP went the weasel!
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Old 12-10-2008, 07:54 PM
 
8,767 posts, read 17,393,519 times
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Quote:
Originally Posted by CoastalMaine View Post
Everything in economics is cyclical, but to have the market tank at the same time as the loan debacle is a heavy load on a lot of innocent people. And the huge tanking occurred mainly after the government came out with the doom and gloom predictions. Everything was humming along and then POP went the weasel!
The people are NOT innocent. They try to make big money BETTING on the rise and fall of certain stocks. Their want for easy money or extended wealth by BETTING on a company's performance is nothing more than white collar gambling. Their BROKERS or, bookies as they would be called in the real world, get a commission or, kick back as it should be called, to steer their "clients" in the right direction. There is no differene between the stock market and betting on horses except for the perception of time involved. You bet and lose it's nobody's fault but your own. Stock certificates value is so fluid as to be of little value at all. Start a company and invest in people then you have something worthwhile. Throw your money into someone else's business at your own risk. If it doesn't work out??? Don't come crying to the money in the mattress crowd to bail you out of your stupidity!
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Old 12-10-2008, 08:12 PM
 
Location: In a van, down by the river.... LOL
21,347 posts, read 7,948,611 times
Reputation: 33323
People w/ 401's weren't betting on anything. Too many peopl just let their broker handle stuff and it tanked so fast no one knew what to do next. They're the ones I'm referring to. The people who thought tying a retirement fund to the stock market must be a good idea because the guvment said so. Now they're schrod. Not me. I don't drink the koolaid. I don't play the stock market.
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Old 12-10-2008, 08:14 PM
 
8,767 posts, read 17,393,519 times
Reputation: 3510
Quote:
Originally Posted by CoastalMaine View Post
People w/ 401's weren't betting on anything. Too many peopl just let their broker handle stuff and it tanked so fast no one knew what to do next. They're the ones I'm referring to. The people who thought tying a retirement fund to the stock market must be a good idea because the guvment said so. Now they're schrod. Not me. I don't drink the koolaid. I don't play the stock market.
Most 401 k's have options . People could invest in bonds and other safe investmnents or let it roll in the market. Many chose to let it roll. THERE WERE RISKS! They lost!!! Chit happens to gamblers! If they were not paying attention that's their problem! That's where the money to put the market over 14000 came from...uneducated gamblers!! Boo Hoo they lost their retirement....They were idiots!
You're right about that the government was all over private investments, damn government!
Perhaps many were enticed into the market because the government was all over private investment and in that they were wrong. But they did not TELL people to invest they suggested it as an alternative to zero growth social security. The stock market is a fool's paradise. You might get lucky on an IPO or two but if you think you're going to be fortunate over the long haul I have some sub prime housing deals you should take a look at! I hope people smarten up finally and invest locally to rebuild the collapsed infrastructure and manufactiuring base of this now hollow country

Last edited by Maineah; 12-10-2008 at 08:30 PM..
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Old 12-10-2008, 08:28 PM
 
Location: Hidin' out on the Mexican border;about to move to the Canadian border
732 posts, read 1,244,615 times
Reputation: 304
Talk to any of your friends who are federal employees and ask them about how their 401K's are doing. Many feds participate, with the government making a partial contribution. They have control of them, but it suddenly became very limited a few months before everything started to tank. It's risky, but in the long run, it's a lot better retirement than they would have if they relied on social security.
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Old 12-10-2008, 08:43 PM
 
8,767 posts, read 17,393,519 times
Reputation: 3510
Quote:
Originally Posted by Casper1212 View Post
Talk to any of your friends who are federal employees and ask them about how their 401K's are doing. Many feds participate, with the government making a partial contribution. They have control of them, but it suddenly became very limited a few months before everything started to tank. It's risky, but in the long run, it's a lot better retirement than they would have if they relied on social security.
Whenever you let someone else control YOUR money you are a fool.
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